All Reports Housing Affordability Chicago MSA • May 2026 • All

Housing Affordability

Home price and typical payment compared to income

 Quick Summary

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Housing AffordabilityChicago MSAMay 2026

Affordability

Payment as a Percent of Income

Based on 3-mo. median sale price
May 2026
28.9%
Year-over-year change
+5%
Compared to 27.7% last year
Difference from state
-19%
Compared to 35.8% in Indiana
View source and notes...

Last update: June 7, 2026, 4:13 a.m. Source: IAR Data Warehouse / American Community Survey Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average. Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Affordable Listings

Pct. of listings in last 90 days affordable to household earning $75K
May 2026
34.2%
Year-over-year change
-5%
Compared to 36.0% last year
Difference from state
-7%
Compared to 36.9% in Indiana
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Data Warehouse Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average. Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Demographics

Median Household Income

Adjusted to current dollars
January 2025
$88,011
Year-over-year change
+9%
Compared to $80,689 last year
Difference from state
+26%
Compared to $69,976 in Indiana
View source and notes...

Last update: June 7, 2026, 4:13 a.m. Source: American Community Survey and Bureau of Labor Statistics Employment Cost Index Data notes: The most recent income measure from the American Community Survey is adjusted by two-year change in the Employment Cost Index to adjust to current dollars. Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Market Momentum

Price

Median Monthly Payment

For median-priced home
May 2026
$2,122
Year-over-year change
+5%
Compared to $2,028 last year
Difference from state
+2%
Compared to $2,085 in Indiana
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Datawarehouse Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average. Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Median Sale Price

3-Month Rolling Median
May 2026
$279,900
Year-over-year change
+8%
Compared to $259,900 last year
Difference from state
+2%
Compared to $275,000 in Indiana
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Data Warehouse Data notes: - Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Sales

Closed Sales by Price

12-month rolling total
All properties, May 2026
7,988
+5%
Under $250K
3,277
-6%
At Least $250K
4,711
+14%
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Supply

New Listings by Price

12-month rolling total
All properties, May 2026
10,645
+4%
Under $250K
4,136
-3%
At Least $250K
6,509
+10%
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.

Inventory by Price

Average daily inventory in latest month
All properties, May 2026
1,777
+1%
Under $250K
565
+5%
At Least $250K
1,212
-1%
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None Geography notes: Metropolitan Statistical Areas are defined by the U.S. Census Bureau after each decennial census. They are made up of one or more counties and contain an urbanized area with at least 50,000 people. Learn more here: https://www.census.gov/programs-surveys/metro-micro/about.html. Chicago MSA includes Jasper County, Lake County, Newton County, Porter County.