Where home prices are falling in the Chicago area
Home values, 1-year change, September 2026 · Zillow ZHVI (Sep 2026) · updated 2026-11-15
Home values fell over the past year in 18 of the 352 ZIP codes in the Chicago area with figures; the median change was +4.9%.
The largest fall was 7.5% in ZIP code 60602 (Loop, Chicago, IL), and the tenth-largest was 2.5% in ZIP code 60418 (Crestwood, IL).
Home values rose 5.0% across the Chicago area and rose 1.2% nationally over the same 12 months.
Where home prices are falling in the Chicago area: the 18
| Rank | ZIP code | Home values, 1-year change | Typical home value | Rents, 1-year change |
|---|---|---|---|---|
| 1 | 60602Loop, Chicago, IL | −7.5% | $297,000 | – |
| 2 | 46409Gary, IN | −7.1% | $74,450 | – |
| 3 | 46402Gary, IN | −6.1% | $61,313 | – |
| 4 | 60649South Shore, Chicago, IL | −4.0% | $143,000 | +2.6% |
| 5 | 46312East Chicago, IN | −3.7% | $130,000 | +3.5% |
| 6 | 46327Hammond, IN | −3.2% | $156,000 | – |
| 7 | 60433Joliet, IL | −2.9% | $212,000 | – |
| 8 | 46408Gary, IN | −2.8% | $108,000 | +8.0% |
| 9 | 60432Joliet, IL | −2.8% | $208,000 | – |
| 10 | 60418Crestwood, IL | −2.5% | $189,000 | – |
| 11 | 60424Reddick, IL | −2.1% | $235,000 | – |
| 12 | 60409Calumet City, IL | −1.6% | $155,000 | +1.0% |
| 13 | 46407Gary, IN | −1.5% | $57,428 | – |
| 14 | 60475Steger, IL | −1.5% | $174,000 | – |
| 15 | 60601Loop, Chicago, IL | −1.4% | $389,000 | +4.6% |
| 16 | 60605Near South Side, Chicago, IL | −1.2% | $343,000 | +5.4% |
| 17 | 46403Gary, IN | −0.6% | $150,000 | – |
| 18 | 60616Douglas, Chicago, IL | −0.4% | $338,000 | +3.8% |
- Under +3.0%
- +3.0% to +4.0%
- +4.0% to +6.0%
- +6.0% to +7.0%
- +7.0% or more
- Not ranked
More rankings for the Chicago area
- Cheapest ZIP codes
- Most expensive ZIP codes
- Where home prices are rising fastest
- Cheapest rent by ZIP code
- Highest rent by ZIP code
- Where rents are falling
- Where rents are rising fastest
- Richest ZIP codes (household income)
- Cheapest suburbs
- Most expensive suburbs
- Richest suburbs (household income)
- Largest suburbs (population)
- Chicago metro area: all figures
Where home prices are falling in other metro areas
- New York, NY
- Los Angeles, CA
- Dallas, TX
- Houston, TX
- Atlanta, GA
- Washington, DC
- Miami, FL
- Philadelphia, PA
- Phoenix, AZ
- Boston, MA
- Riverside, CA
- San Francisco, CA
- Detroit, MI
- Seattle, WA
- Minneapolis, MN
- Tampa, FL
- San Diego, CA
- Denver, CO
- Orlando, FL
- Charlotte, NC
- Baltimore, MD
- St. Louis, MO
- San Antonio, TX
- Austin, TX
- Portland, OR
- Sacramento, CA
- Pittsburgh, PA
- Las Vegas, NV
- Cincinnati, OH
- Kansas City, MO
- Columbus, OH
- Indianapolis, IN
- Nashville, TN
- Cleveland, OH
- San Jose, CA
- Virginia Beach, VA
- Jacksonville, FL
- Raleigh, NC
- Oklahoma City, OK
- Louisville, KY
- Memphis, TN
- Salt Lake City, UT
- Fresno, CA
- Birmingham, AL
Source and method
Home values, 1-year change: Zillow ZHVI (Sep 2026); figures for September 2026. ZIP codes with at least 1,000 residents and a published figure are ranked (352 of them in the Chicago area). This page lists only the 18 where the figure fell. The metro area is the Chicago-Naperville-Elgin, IL-IN metropolitan statistical area. Place names for ZIP codes are the neighborhood or city the ZIP code mostly covers. Compiled by Home Economics.
Zillow's "typical" home value and rent are index values for the middle of the market (the Zillow Home Value Index and Observed Rent Index), not median sale prices or asking rents. One-year changes are over the 12 months to September 2026. Income and population come from the Census Bureau's American Community Survey and carry sampling error, most of all in small places.