The median home in Homewood, Illinois is valued at $235,946, up 2.4% year over year. Typical monthly rent is $2,049, producing a price-to-rent ratio of 9.6x — below the national average of 18x. Homewood is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Chicago-Naperville-Elgin, IL-IN-WI stress score, crash risk, and 12-month forecast →

Home Value$235,946

+2.4%

Rent$2,049/mo

AFFORDABILITY

Enter your income for Homewood.

Income (annual)

Down Payment

$47,189 on $235,946

Stretch — 28.5% of income

Above 28% but manageable with cuts.

PITI$1,782

P/I28.5%

Afford$232K

Gap-$4K

P&I $1,193Tax $438Ins $150

Buying $267/mo cheaper ($2,049 rent)6.50% 30yr, 20% down, county tax + IL ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Illinois

Compare Homewood with other housing markets across Illinois.

Kenilworth$1927K Winnetka$1731K Glencoe$1507K Bannockburn$1222K Golf$1186K Hinsdale$1182K Lake Forest$1136K South Barrington$1077K

Full Chicago-Naperville-Elgin, IL-IN-WI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Chicago-Naperville-Elgin, IL-IN-WI metro.

View Chicago-Naperville-Elgin, IL-IN-WI metro →

HOMEWOOD, IL