Cities with the most expensive homes in Chicago metro area

Written by:
April 19, 2023
Volodymyr Kyrylyuk // Shutterstock

Cities with the most expensive homes in Chicago metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of April 4, 2023, the 30-year fixed mortgage rate sits at 6.3%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by 4.4% to $328,604.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Chicago using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of February 2023. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 349 cities and towns in Chicago. Charts for each city show the monthly typical home value since January 2018.

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#30. Clarendon Hills, IL

- Typical home value: $509,602
- 1-year price change: +5.0%
- 5-year price change: +21.3%

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#29. Northbrook, IL

- Typical home value: $518,821
- 1-year price change: +3.6%
- 5-year price change: +17.0%

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#28. Campton Hills, IL

- Typical home value: $527,842
- 1-year price change: +4.9%
- 5-year price change: +33.0%

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#27. Lincolnshire, IL

- Typical home value: $555,511
- 1-year price change: +5.9%
- 5-year price change: +15.6%

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#26. River Forest, IL

- Typical home value: $564,648
- 1-year price change: +4.0%
- 5-year price change: +22.6%

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#25. Hawthorn Woods, IL

- Typical home value: $580,181
- 1-year price change: +7.0%
- 5-year price change: +21.6%

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#24. Wayne, IL

- Typical home value: $581,254
- 1-year price change: +6.4%
- 5-year price change: +27.5%

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#23. Deer Park, IL

- Typical home value: $586,949
- 1-year price change: +4.8%
- 5-year price change: +18.1%

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#22. Highland Park, IL

- Typical home value: $587,972
- 1-year price change: +7.6%
- 5-year price change: +22.3%

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#21. Inverness, IL

- Typical home value: $627,169
- 1-year price change: +4.0%
- 5-year price change: +16.0%

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#20. Northfield, IL

- Typical home value: $628,373
- 1-year price change: +4.3%
- 5-year price change: +12.9%

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#19. Western Springs, IL

- Typical home value: $638,600
- 1-year price change: +5.0%
- 5-year price change: +23.2%

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#18. Burr Ridge, IL

- Typical home value: $647,500
- 1-year price change: +2.4%
- 5-year price change: +17.3%

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#17. Kildeer, IL

- Typical home value: $685,320
- 1-year price change: +4.8%
- 5-year price change: +18.6%

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#16. North Barrington, IL

- Typical home value: $689,493
- 1-year price change: +6.9%
- 5-year price change: +26.3%

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#15. Wilmette, IL

- Typical home value: $703,275
- 1-year price change: +4.9%
- 5-year price change: +22.3%

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#14. Oak Brook, IL

- Typical home value: $711,984
- 1-year price change: +5.4%
- 5-year price change: +18.7%

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#13. Long Grove, IL

- Typical home value: $723,318
- 1-year price change: +7.0%
- 5-year price change: +21.5%

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#12. Mettawa, IL

- Typical home value: $724,394
- 1-year price change: +7.3%
- 5-year price change: +25.5%

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#11. Riverwoods, IL

- Typical home value: $743,508
- 1-year price change: +5.7%
- 5-year price change: +13.5%

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#10. Barrington Hills, IL

- Typical home value: $798,441
- 1-year price change: +6.2%
- 5-year price change: +25.7%

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#9. Dune Acres, IN

- Typical home value: $799,659
- 1-year price change: +2.8%
- 5-year price change: +30.0%

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#8. South Barrington, IL

- Typical home value: $882,491
- 1-year price change: +6.0%
- 5-year price change: +19.4%

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#7. Golf, IL

- Typical home value: $889,836
- 1-year price change: +3.0%
- 5-year price change: +31.0%

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#6. Hinsdale, IL

- Typical home value: $906,472
- 1-year price change: +5.9%
- 5-year price change: +7.6%

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#5. Lake Forest, IL

- Typical home value: $922,645
- 1-year price change: +8.3%
- 5-year price change: +21.5%

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#4. Bannockburn, IL

- Typical home value: $943,979
- 1-year price change: +7.6%
- 5-year price change: +19.3%

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#3. Glencoe, IL

- Typical home value: $1,107,029
- 1-year price change: +9.0%
- 5-year price change: +35.7%

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#2. Winnetka, IL

- Typical home value: $1,312,647
- 1-year price change: +8.4%
- 5-year price change: +33.0%

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#1. Kenilworth, IL

- Typical home value: $1,473,288
- 1-year price change: +5.3%
- 5-year price change: +29.4%

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