Foreclosure Homes in Morton Grove, IL

Current Market Conditions in Morton Grove, IL

The Morton Grove real estate market has been showing steady growth over the past year, with home values up approximately 5%. Demand for homes remains high, driven by the area's reputation for quality schools and community-oriented living. Current listings indicate a variety of price points suitable for first-time buyers as well as move-up buyers.

A noticeable trend is the increase in multi-family units being developed, catering to the growing population and changing demographic. This flexibility in housing types presents an opportunity for investors looking to tap into rental income.

Overall, Morton Grove's property market is competitive, with homes typically selling quickly, often at or above asking prices.

Rent Prices In Morton Grove, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Morton Grove, IL, is on a rollercoaster ride. The average rent price in Morton Grove, IL, is $2,209.00. Indeed, when looking to rent in Morton Grove, IL, you can expect to pay as little as $1,140.00 or as much as $4,320.00, with the average rent median estimated to be $2,110.00. The good news is that finding an affordable and desirable property to rent in Morton Grove, 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.