Multi-family Foreclosures in Homewood, IL

Current Market Conditions in Homewood, IL

Homewood's real estate market has shown stability along with a gradual increase in home values over the past year. The suburb continues to attract buyers looking for affordable housing options coupled with a strong community vibe. Market activity is steady, with homes typically selling within a few weeks of being listed, indicating solid demand.

In recent months, Homewood’s housing inventory has been experiencing a slight uptick, offering a broader range of options for prospective buyers. Despite a modest rise in interest rates, home affordability in the area remains favorable compared to neighboring suburbs, making it an appealing market for first-time buyers and those looking to settle into a family-friendly environment.

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.