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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Chicago Ridge, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Chicago Ridge, IL Housing Market Trends

With 13,971 people, 5,251 houses or apartments, and a median cost of homes of $279,121, Chicago Ridge real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Chicago Ridge, accounting for 55.58% of the village's housing units. Other types of housing that are prevalent in Chicago Ridge include single-family detached homes ( 37.66%), duplexes, homes converted to apartments or other small apartment buildings ( 4.16%), and a few row houses and other attached homes ( 2.60%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.

People in Chicago Ridge primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Chicago Ridge has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Chicago Ridge built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Chicago Ridge built between 1940-1969 ( 44.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.46%). There's also some housing in Chicago Ridge built before 1939 ( 2.39%).

Chicago Ridge Home Appreciation Rates

Appreciation rates for homes in Chicago Ridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.34%, which ranks in the top 50% nationwide. This equates to an annual average Chicago Ridge house appreciation rate of 6.42%.

Over the last year, Chicago Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Chicago Ridge's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chicago Ridge were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Chicago Ridge's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$279,121

Chicago Ridge, IL Home Prices
> $1,267,000
$950,001 - $1,267,000
$634,001 - $950,000
$507,001 - $634,000
$380,001 - $507,000
$253,001 - $380,000
$127,001 - $253,000
$63,001 - $127,000
$0 - $63,000
1.5%
1.5%
0.2%
0.2%
2.3%
2.3%
3.2%
3.2%
6.1%
6.1%
47.8%
47.8%
31.5%
31.5%
6.8%
6.8%
0.6%
0.6%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

5,251

Chicago Ridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,895 / per month

Homeownership Rate

Owners
Renters
56.2%
56.2%
43.8%
43.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.8%
7.8%
92.2%
92.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.5%
4.5%
48.9%
48.9%
44.2%
44.2%
2.4%
2.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
37.7%
37.7%
2.6%
2.6%
4.2%
4.2%
55.6%
55.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
17.9%
17.9%
42.1%
42.1%
27.9%
27.9%
9.0%
9.0%
2.2%
2.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Chicago Ridge

Zip Codes in Chicago Ridge, IL