Foreclosure Homes in Homewood, IL

Current Market Conditions in Homewood, IL

The real estate market in Homewood has seen a steady increase in demand over the past few years. Home values have appreciated significantly, driven by the area's desirable location, excellent school system, and attractive homes. The market is currently balanced, with a healthy mix of buyers and sellers, making it an inviting environment for those looking to invest in property.

New construction and renovations have become key trends in Homewood, as homeowners look to modernize older properties while still preserving the area's historic charm. Rental properties are also gaining traction, particularly among young professionals seeking affordable options in close proximity to Chicago.

Rent Prices In Homewood, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Homewood, IL, is on a rollercoaster ride. The average rent price in Homewood, IL, is $1,624.00. Indeed, when looking to rent in Homewood, IL, you can expect to pay as little as $800.00 or as much as $3,020.00, with the average rent median estimated to be $1,660.00. The good news is that finding an affordable and desirable property to rent in Homewood, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.