Cities with the fastest-growing home prices in the Chicago metro area
Written by:
August 29, 2023
Volodymyr Kyrylyuk // Shutterstock
Cities with the fastest-growing home prices in the Chicago metro area
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was a record $351,423 in August, 1.3% higher than the year before.
Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the fastest-growing home prices in the Chicago-Naperville-Elgin, IL-IN-WI metro area using data from Zillow. Cities are ranked by their one-year price change as of August 2023. Data was available for 350 cities and towns.
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Stacker
#30. New Lenox, IL
- 1-year price change: +$20,087 (+5.3%)
- 5-year price change: +$112,076 (+38.7%)
- Typical home value: $401,997 (#74 most expensive city in metro)
- 5-year price change: +$112,076 (+38.7%)
- Typical home value: $401,997 (#74 most expensive city in metro)
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#29. Deerfield, IL
- 1-year price change: +$20,384 (+4.1%)
- 5-year price change: +$81,097 (+18.4%)
- Typical home value: $521,953 (#39 most expensive city in metro)
- 5-year price change: +$81,097 (+18.4%)
- Typical home value: $521,953 (#39 most expensive city in metro)
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#28. Deer Park, IL
- 1-year price change: +$20,910 (+3.3%)
- 5-year price change: +$143,222 (+27.8%)
- Typical home value: $657,711 (#22 most expensive city in metro)
- 5-year price change: +$143,222 (+27.8%)
- Typical home value: $657,711 (#22 most expensive city in metro)
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#27. Mokena, IL
- 1-year price change: +$20,971 (+5.4%)
- 5-year price change: +$114,653 (+38.9%)
- Typical home value: $409,200 (#68 most expensive city in metro)
- 5-year price change: +$114,653 (+38.9%)
- Typical home value: $409,200 (#68 most expensive city in metro)
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Stacker
#26. Lake Bluff, IL
- 1-year price change: +$21,077 (+4.1%)
- 5-year price change: +$100,037 (+23.2%)
- Typical home value: $531,437 (#35 most expensive city in metro)
- 5-year price change: +$100,037 (+23.2%)
- Typical home value: $531,437 (#35 most expensive city in metro)
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Stacker
#25. Lake in the Hills, IL
- 1-year price change: +$21,426 (+7.0%)
- 5-year price change: +$107,402 (+48.9%)
- Typical home value: $327,211 (#145 most expensive city in metro)
- 5-year price change: +$107,402 (+48.9%)
- Typical home value: $327,211 (#145 most expensive city in metro)
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Stacker
#24. Cortland, IL
- 1-year price change: +$22,095 (+9.7%)
- 5-year price change: +$79,074 (+46.2%)
- Typical home value: $250,234 (#250 most expensive city in metro)
- 5-year price change: +$79,074 (+46.2%)
- Typical home value: $250,234 (#250 most expensive city in metro)
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Stacker
#23. Village of Lakewood, IL
- 1-year price change: +$22,107 (+4.5%)
- 5-year price change: +$159,108 (+45.3%)
- Typical home value: $510,391 (#41 most expensive city in metro)
- 5-year price change: +$159,108 (+45.3%)
- Typical home value: $510,391 (#41 most expensive city in metro)
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Stacker
#22. Hawthorn Woods, IL
- 1-year price change: +$22,127 (+3.6%)
- 5-year price change: +$138,192 (+27.8%)
- Typical home value: $635,128 (#25 most expensive city in metro)
- 5-year price change: +$138,192 (+27.8%)
- Typical home value: $635,128 (#25 most expensive city in metro)
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#21. Vernon Hills, IL
- 1-year price change: +$22,726 (+6.3%)
- 5-year price change: +$75,769 (+24.7%)
- Typical home value: $382,008 (#88 most expensive city in metro)
- 5-year price change: +$75,769 (+24.7%)
- Typical home value: $382,008 (#88 most expensive city in metro)
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Stacker
#20. Sugar Grove, IL
- 1-year price change: +$23,163 (+6.2%)
- 5-year price change: +$112,363 (+39.9%)
- Typical home value: $394,138 (#81 most expensive city in metro)
- 5-year price change: +$112,363 (+39.9%)
- Typical home value: $394,138 (#81 most expensive city in metro)
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#19. Naperville, IL
- 1-year price change: +$23,773 (+4.7%)
- 5-year price change: +$134,620 (+34.1%)
- Typical home value: $529,248 (#37 most expensive city in metro)
- 5-year price change: +$134,620 (+34.1%)
- Typical home value: $529,248 (#37 most expensive city in metro)
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Stacker
#18. Trout Valley, IL
- 1-year price change: +$24,196 (+5.2%)
- 5-year price change: +$159,648 (+47.9%)
- Typical home value: $492,625 (#47 most expensive city in metro)
- 5-year price change: +$159,648 (+47.9%)
- Typical home value: $492,625 (#47 most expensive city in metro)
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#17. Old Mill Creek, IL
- 1-year price change: +$25,014 (+5.4%)
- 5-year price change: +$129,594 (+36.3%)
- Typical home value: $487,054 (#48 most expensive city in metro)
- 5-year price change: +$129,594 (+36.3%)
- Typical home value: $487,054 (#48 most expensive city in metro)
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#16. Highland Park, IL
- 1-year price change: +$25,473 (+4.2%)
- 5-year price change: +$132,329 (+26.2%)
- Typical home value: $636,746 (#24 most expensive city in metro)
- 5-year price change: +$132,329 (+26.2%)
- Typical home value: $636,746 (#24 most expensive city in metro)
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Stacker
#15. Sleepy Hollow, IL
- 1-year price change: +$25,800 (+6.6%)
- 5-year price change: +$121,336 (+41.2%)
- Typical home value: $415,735 (#65 most expensive city in metro)
- 5-year price change: +$121,336 (+41.2%)
- Typical home value: $415,735 (#65 most expensive city in metro)
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#14. Frankfort, IL
- 1-year price change: +$26,198 (+6.3%)
- 5-year price change: +$125,815 (+39.8%)
- Typical home value: $441,574 (#58 most expensive city in metro)
- 5-year price change: +$125,815 (+39.8%)
- Typical home value: $441,574 (#58 most expensive city in metro)
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#13. Mettawa, IL
- 1-year price change: +$26,657 (+3.4%)
- 5-year price change: +$171,609 (+27.0%)
- Typical home value: $807,799 (#13 most expensive city in metro)
- 5-year price change: +$171,609 (+27.0%)
- Typical home value: $807,799 (#13 most expensive city in metro)
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#12. Oak Brook, IL
- 1-year price change: +$29,885 (+3.7%)
- 5-year price change: +$145,236 (+21.1%)
- Typical home value: $831,936 (#12 most expensive city in metro)
- 5-year price change: +$145,236 (+21.1%)
- Typical home value: $831,936 (#12 most expensive city in metro)
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#11. Riverwoods, IL
- 1-year price change: +$29,906 (+3.7%)
- 5-year price change: +$144,309 (+21.0%)
- Typical home value: $832,888 (#11 most expensive city in metro)
- 5-year price change: +$144,309 (+21.0%)
- Typical home value: $832,888 (#11 most expensive city in metro)
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#10. Lincolnshire, IL
- 1-year price change: +$30,601 (+5.1%)
- 5-year price change: +$110,063 (+21.2%)
- Typical home value: $628,072 (#26 most expensive city in metro)
- 5-year price change: +$110,063 (+21.2%)
- Typical home value: $628,072 (#26 most expensive city in metro)
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#9. North Barrington, IL
- 1-year price change: +$31,032 (+4.3%)
- 5-year price change: +$172,244 (+29.4%)
- Typical home value: $758,028 (#16 most expensive city in metro)
- 5-year price change: +$172,244 (+29.4%)
- Typical home value: $758,028 (#16 most expensive city in metro)
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#8. South Barrington, IL
- 1-year price change: +$34,554 (+3.7%)
- 5-year price change: +$182,284 (+23.4%)
- Typical home value: $960,200 (#8 most expensive city in metro)
- 5-year price change: +$182,284 (+23.4%)
- Typical home value: $960,200 (#8 most expensive city in metro)
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#7. Glencoe, IL
- 1-year price change: +$36,252 (+3.0%)
- 5-year price change: +$305,690 (+32.9%)
- Typical home value: $1,235,221 (#3 most expensive city in metro)
- 5-year price change: +$305,690 (+32.9%)
- Typical home value: $1,235,221 (#3 most expensive city in metro)
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#6. Lake Forest, IL
- 1-year price change: +$36,324 (+3.7%)
- 5-year price change: +$192,097 (+23.5%)
- Typical home value: $1,009,954 (#5 most expensive city in metro)
- 5-year price change: +$192,097 (+23.5%)
- Typical home value: $1,009,954 (#5 most expensive city in metro)
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#5. Indian Creek, IL
- 1-year price change: +$38,369 (+8.3%)
- 5-year price change: +$122,398 (+32.2%)
- Typical home value: $502,770 (#43 most expensive city in metro)
- 5-year price change: +$122,398 (+32.2%)
- Typical home value: $502,770 (#43 most expensive city in metro)
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#4. Long Grove, IL
- 1-year price change: +$38,768 (+5.0%)
- 5-year price change: +$175,039 (+27.7%)
- Typical home value: $806,908 (#14 most expensive city in metro)
- 5-year price change: +$175,039 (+27.7%)
- Typical home value: $806,908 (#14 most expensive city in metro)
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#3. Winnetka, IL
- 1-year price change: +$45,184 (+3.2%)
- 5-year price change: +$383,265 (+35.9%)
- Typical home value: $1,450,451 (#2 most expensive city in metro)
- 5-year price change: +$383,265 (+35.9%)
- Typical home value: $1,450,451 (#2 most expensive city in metro)
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#2. Bannockburn, IL
- 1-year price change: +$61,582 (+6.3%)
- 5-year price change: +$205,794 (+24.7%)
- Typical home value: $1,038,539 (#4 most expensive city in metro)
- 5-year price change: +$205,794 (+24.7%)
- Typical home value: $1,038,539 (#4 most expensive city in metro)
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#1. Kenilworth, IL
- 1-year price change: +$77,058 (+4.9%)
- 5-year price change: +$478,419 (+40.8%)
- Typical home value: $1,651,158 (#1 most expensive city in metro)
- 5-year price change: +$478,419 (+40.8%)
- Typical home value: $1,651,158 (#1 most expensive city in metro)
