ZIP 60016 Housing Market Report
Chicago Metro
Report period: August 2026
60016 Monthly Market Update – August 2026
ZIP 60016 · Last updated Aug 11, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$349,000
−0.3%
Median DOM (Sales)
7
0.0%
New Listings (Sales)
61
−47.4%
Median Rent
$1,950
0.0%
Median DOM (Rental)
29
+3.6%
Total Rental Listings
94
−7.8%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (1 DOM)
- Fastest renting: Single Family (16 DOM)
- Strongest bedroom: 7 Beds ($1,595,000 median)
Sales Market Overview
Median Price
$349,000
−0.3%
Median DOM
7
0.0%
New Listings
61
−47.4%
Inventory
237
−4.8%
- Average Price: $368,779
- Median Price: $349,000
- Price Range: $105,000 – $1,595,000
- Price per Sq Ft (Avg/Median): $252 / $237
- Square Footage (Avg/Median): 1,578 / 1,325
- Square Footage Range: 640 – 8,460
- Days on Market (Avg/Median): 25 / 7
- Days on Market Range: 1 – 355
- New Listings: 61
- Total Listings: 237
Sales by Property Type
Condo
Avg/Median Price$250,856 / $235,000Range$130,000 – $445,000Price per Sq Ft$225 / $224Sq Ft1,135 / 1,100DOM24 / 8New32Total117
Land
Avg/Median Price$356,569 / $329,000Range$105,000 – $649,000Price per Sq Ft—Sq Ft—DOM165 / 122New1Total8
Single Family
Avg/Median Price$529,928 / $461,900Range$205,000 – $1,595,000Price per Sq Ft$289 / $283Sq Ft2,097 / 1,766DOM21 / 5New17Total76
Townhouse
Avg/Median Price$414,539 / $419,900Range$275,000 – $539,990Price per Sq Ft$249 / $257Sq Ft1,700 / 1,734DOM11 / 1New11Total36
Sales by Bedroom Count
1 Beds
Avg:$182,679Median:$175,000Range:$130,000 – $275,000PSF:$213 / $207Sq Ft:886 / 900DOM:32 / 6New:8Total:24
2 Beds
Avg:$289,247Median:$275,000Range:$150,000 – $650,000PSF:$235 / $229Sq Ft:1,321 / 1,200DOM:18 / 6New:28Total:107
3 Beds
Avg:$436,791Median:$439,000Range:$229,900 – $650,000PSF:$287 / $275Sq Ft:1,660 / 1,532DOM:21 / 8New:17Total:66
4 Beds
Avg:$590,670Median:$520,000Range:$390,000 – $1,099,000PSF:$261 / $241Sq Ft:2,276 / 2,200DOM:21 / 5New:7Total:27
5 Beds
Avg:$664,333Median:$469,000Range:$399,000 – $1,125,000PSF:$219 / $222Sq Ft:2,908 / 2,216DOM:15 / 2New:0Total:3
6 Beds
Avg:$850,000Median:$850,000Range:$850,000 – $850,000PSF:$283 / $283Sq Ft:3,000 / 3,000DOM:110 / 110New:0Total:1
7 Beds
Avg:$1,595,000Median:$1,595,000Range:$1,595,000 – $1,595,000PSF:$200 / $200Sq Ft:7,983 / 7,983DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $182,679 | $175,000 | $130,000 – $275,000 | $213 / $207 | 886 / 900 | 32 / 6 | 8 | 24 |
| 2 Beds | $289,247 | $275,000 | $150,000 – $650,000 | $235 / $229 | 1,321 / 1,200 | 18 / 6 | 28 | 107 |
| 3 Beds | $436,791 | $439,000 | $229,900 – $650,000 | $287 / $275 | 1,660 / 1,532 | 21 / 8 | 17 | 66 |
| 4 Beds | $590,670 | $520,000 | $390,000 – $1,099,000 | $261 / $241 | 2,276 / 2,200 | 21 / 5 | 7 | 27 |
| 5 Beds | $664,333 | $469,000 | $399,000 – $1,125,000 | $219 / $222 | 2,908 / 2,216 | 15 / 2 | 0 | 3 |
| 6 Beds | $850,000 | $850,000 | $850,000 – $850,000 | $283 / $283 | 3,000 / 3,000 | 110 / 110 | 0 | 1 |
| 7 Beds | $1,595,000 | $1,595,000 | $1,595,000 – $1,595,000 | $200 / $200 | 7,983 / 7,983 | 1 / 1 | 0 | 1 |
Rental Market Overview
Median Rent
$1,950
0.0%
Median DOM
29
+3.6%
New Listings
3
Inventory
94
−7.8%
- Average Rent: $2,241
- Median Rent: $1,950
- Rent Range: $800 – $9,960
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,135 / 1,000
- Square Footage Range: 450 – 3,800
- Days on Market (Avg/Median): 62 / 29
- Days on Market Range: 2 – 335
- New Listings: 3
- Total Listings: 94
Rentals by Property Type
Apartment
$1,950
Median DOM: 47
Inventory: 51
MoM: 0.0%
Condo
$1,800
Median DOM: 17
Inventory: 24
MoM: 0.0%
Single Family
$1,900
Median DOM: 16
Inventory: 15
MoM: 0.0%
Townhouse
$3,199
Median DOM: 113
Inventory: 3
MoM: 0.0%
Apartment
Avg/Median Rent$2,161 / $1,950Range$1,200 – $8,534Rent per Sq Ft$2 / $2Sq Ft959 / 900DOM79 / 47New2Total51
Condo
Avg/Median Rent$2,018 / $1,800Range$1,400 – $3,000Rent per Sq Ft$2 / $2Sq Ft1,079 / 1,000DOM46 / 17New1Total24
Multi-Family
Avg/Median Rent$2,550 / $2,550Range$2,550 – $2,550Rent per Sq Ft$1 / $1Sq Ft2,000 / 2,000DOM19 / 19New0Total1
Single Family
Avg/Median Rent$2,218 / $1,900Range$800 – $3,850Rent per Sq Ft$2 / $2Sq Ft1,633 / 1,500DOM22 / 16New0Total15
Townhouse
Avg/Median Rent$5,386 / $3,199Range$3,000 – $9,960Rent per Sq Ft$2 / $2Sq Ft1,775 / 1,775DOM160 / 113New0Total3
Rentals by Bedroom Count
Studio
Avg:$1,522Median:$1,519Range:$1,200 – $1,846PSF:$3 / $3Sq Ft:538 / 556DOM:61 / 18New:0Total:4
1 Beds
Avg:$1,727Median:$1,695Range:$800 – $2,455PSF:$2 / $2Sq Ft:930 / 764DOM:73 / 21New:0Total:29
2 Beds
Avg:$2,125Median:$1,950Range:$1,650 – $3,068PSF:$2 / $2Sq Ft:1,099 / 1,000DOM:52 / 29New:3Total:47
3 Beds
Avg:$3,370Median:$2,800Range:$2,150 – $8,534PSF:$2 / $2Sq Ft:1,649 / 1,550DOM:59 / 32New:0Total:11
4 Beds
Avg:$5,835Median:$3,850Range:$3,695 – $9,960PSF:$1 / $1Sq Ft:3,013 / 2,226DOM:108 / 9New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,522 | $1,519 | $1,200 – $1,846 | $3 / $3 | 538 / 556 | 61 / 18 | 0 | 4 |
| 1 Beds | $1,727 | $1,695 | $800 – $2,455 | $2 / $2 | 930 / 764 | 73 / 21 | 0 | 29 |
| 2 Beds | $2,125 | $1,950 | $1,650 – $3,068 | $2 / $2 | 1,099 / 1,000 | 52 / 29 | 3 | 47 |
| 3 Beds | $3,370 | $2,800 | $2,150 – $8,534 | $2 / $2 | 1,649 / 1,550 | 59 / 32 | 0 | 11 |
| 4 Beds | $5,835 | $3,850 | $3,695 – $9,960 | $1 / $1 | 3,013 / 2,226 | 108 / 9 | 0 | 3 |
6-Month Sales Trend
Mar 2026
Median Price:$324,900Median DOM:15New:85Total:200
Apr 2026
Median Price:$330,000Median DOM:14New:84Total:221
May 2026
Median Price:$340,000Median DOM:10New:101Total:239
Jun 2026
Median Price:$349,900Median DOM:9New:101Total:236
Jul 2026
Median Price:$349,900Median DOM:7New:116Total:249
Aug 2026
Median Price:$349,000Median DOM:7New:61Total:237
6-Month Rental Trend
Mar 2026
Median Rent:$1,850Median DOM:49New:26Total:135
Apr 2026
Median Rent:$1,950Median DOM:35New:39Total:147
May 2026
Median Rent:$1,950Median DOM:38New:28Total:140
Jun 2026
Median Rent:$1,950Median DOM:29New:31Total:131
Jul 2026
Median Rent:$1,950Median DOM:28New:19Total:102
Aug 2026
Median Rent:$1,950Median DOM:29New:3Total:94
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market were unchanged, signaling steady buyer activity. Rental pricing remained stable, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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