Calumet City, Illinois Real Estate & Housing Market

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Calumet City Housing Information

Index	Calumet City	Illinois	National
Median home price	$101,500	$174,800	$184,700
Median rent asked	$929	$925	$949
Avg. people per household	2.6	2.6	2.6
Owner occupied households	56.3%	66.0%	63.6%
Renter occupied households	43.7%	34.0%	36.4%

A general summary of the real estate market in Calumet City, IL is listed above. Properties in Calumet City, IL average a cost of $101,500, which is 42% lower than the median home price for real estate located in Illinois. This means that the region of Calumet City, IL is, on average, more affordable when compared to the remainder of Illinois. Since tenants living in Calumet City, IL will pay an average of $929, the median rental cost is equal to in Illinois. 56.3% of people in Calumet City, IL own their own homes, and an average of 2.6 people inhabit each property. Calumet City, IL has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Calumet City Home Affordability

When starting your search for real estate in Calumet City, IL, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Calumet City, IL costs $101,500 while each household has an average income of $40,845. Consequently, the ratio of home price to household income is 2.5x; this ratio is 16% lower than the average in Illinois. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Calumet City, IL. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Calumet City, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Dixmoor, IL	3,614	$44,200	76%
Ford Heights, IL	2,775	$58,800	68%
Gary, IN	77,858	$65,400	65%
Sauk Village, IL	10,541	$69,100	63%
Phoenix, IL	2,042	$71,600	61%
Calumet City, IL	37,112	$101,500	45%

Cities with similar population

City, State	Population	Home Price	National Avg.
La Presa, CA	37,110	$315,700	71%
Monrovia, CA	37,090	$583,300	216%
Greenfield, WI	37,070	$170,600	8%
Lincoln Park, MI	37,155	$60,500	67%
Braintree Town, MA	37,066	$385,400	109%
Calumet City, IL	37,112	$101,500	45%

Source: The Calumet City, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).