Chicago FHA Loan Rates, Closing Costs & Stats

Chicago-Naperville-Elgin, IL-IN-WI

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Chicago's 258 lenders originated 16,899 FHA loans during 2024. The total origination value was $4,731,615,000, with an average FHA loan value of $279,994.

    Chicago FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Chicago averaged 0.51% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Chicago's average FHA mortgage closing costs are $8,996.

    The average rate for the prior week (2025-06-27) was 6.89% and one month ago for the week of 2025-05-30, the average rate was 6.67%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.18%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Chicago FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Chicago level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,272 6.36% $11,702
    UNITED WHOLESALE MORTGAGE, LLC 1,263 6.35% $13,520
    LOANDEPOT.COM, LLC 1,005 6.79% $12,849
    CROSSCOUNTRY MORTGAGE, LLC 808 6.60% $12,940
    GUARANTEED RATE, INC. 691 6.51% $11,571
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 670 6.80% $12,383
    FREEDOM MORTGAGE CORPORATION 485 6.50% $12,509
    PENNYMAC LOAN SERVICES, LLC 450 6.12% $10,217
    AMERICAN PACIFIC MORTGAGE CORPORATION 401 6.72% $13,177
    GUILD MORTGAGE COMPANY 313 6.77% $12,087
    NEWREZ LLC 264 6.49% $11,084
    DHI MORTGAGE COMPANY, LTD. 256 5.37% $8,920
    BROKER SOLUTIONS, INC. 202 6.84% $12,616
    AMERICAN FINANCIAL NETWORK, INC. 201 6.77% $11,769
    TOWNE MORTGAGE COMPANY 197 6.66% $13,096
    The Federal Savings Bank 192 6.68% $13,179
    Barrington Bank & Trust Company, N.A. 180 6.86% $11,557
    Ixonia Bank 173 6.79% $11,872
    EAGLE HOME MORTGAGE, LLC 166 5.06% $10,992
    JPMorgan Chase Bank 161 6.42% $6,128
    Mr. Cooper ( Nationstar Mortgage ) 159 6.51% $12,990
    COMPASS MORTGAGE, INC. 153 6.63% $15,263
    The Huntington National Bank 146 6.53% $11,805
    Equity Prime Mortgage LLC 145 7.00% $13,392
    MUTUAL OF OMAHA MORTGAGE, INC. 143 6.56% $15,113
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 135 6.83% $11,173
    Carrington Mortgage Services, LLC 133 6.40% $12,741
    BAY EQUITY LLC 132 6.63% $13,024
    DIRECT MORTGAGE LOANS, LLC 120 6.64% $12,735
    HOMESIDE FINANCIAL, LLC 115 6.83% $12,520
    UNION HOME MORTGAGE CORP. 112 6.75% $11,833
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 110 6.53% $11,595
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 108 6.65% $11,456
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 100 6.56% $10,969
    Flagstar Bank, FSB 92 6.38% $9,711
    VILLAGE CAPITAL MORTGAGE 92 6.56% $6,923
    LEADERONE FINANCIAL CORPORATION 90 6.71% $11,041
    LAKEVIEW LOAN SERVICING, LLC 87 6.42% $9,125
    Key Mortgage Services, Inc. 84 6.44% $12,076
    NVR Mortgage Finance, Inc. 83 6.20% $12,539
    PLAZA HOME MORTGAGE, INC. 79 6.99% $11,680
    AMERISAVE MORTGAGE CORPORATION 78 6.09% $15,162
    Paramount Residential Mortgage Group, Inc. 75 6.68% $12,407
    CARDINAL FINANCIAL 72 6.46% $12,666
    SUN WEST MORTGAGE COMPANY, INC. 69 6.28% $13,710
    OCMBC, INC. 66 6.76% $14,066
    GREENSTATE CREDIT UNION 62 6.17% $9,850
    GUARANTEED RATE AFFINITY, LLC 60 6.72% $12,708
    PLANET HOME LENDING, LLC 59 6.18% $8,697
    M/I FINANCIAL, LLC 59 5.60% $19,073
    BMO Harris Bank 57 6.66% $10,964
    GENEVA FINANCIAL, LLC 55 7.11% $13,562
    MICHIGAN MUTUAL, INC. 55 6.80% $12,319
    MOVEMENT MORTGAGE, LLC 54 6.61% $13,042
    American Mortgage & Equity Consultants, Inc. 53 6.92% $13,185
    Mortgage Research Center, LLC 52 6.73% $7,984
    AmeriHome Mortgage Company, LLC 52 6.46% $8,177
    Nations Lending Corporation 51 6.76% $12,684
    U.S. Bank 50 6.55% $9,654
    CALCON MUTUAL MORTGAGE LLC 49 6.84% $12,604
    Associated Bank 48 6.28% $10,453
    Prosperity Home Mortgage, LLC 48 6.28% $12,948
    FIRST COMMUNITY MORTGAGE, INC. 47 6.92% $10,463
    Lakeview Community Capital, LLC 46 6.44% $8,061
    Century Mortgage Company DBA Century Lending Company 46 6.50% $13,082
    MLD MORTGAGE INC. 44 6.48% $12,509
    MID AMERICA MORTGAGE, INC. 42 6.89% $10,930
    CIBC Bank USA 42 6.37% $11,829
    Fifth Third Bank 40 6.51% $7,208
    POINT Mortgage 39 6.75% $11,112
    CMG MORTGAGE, INC. 36 6.82% $11,911
    RUOFF MORTGAGE COMPANY, INC. 35 6.85% $6,490
    CIBM Bank 33 6.56% $10,302
    PROPER RATE, LLC 33 6.60% $11,318
    Pacor Mortgage Corp 33 6.61% $11,513
    PRIMELENDING, A PLAINSCAPITAL COMPANY 32 6.86% $12,779
    University Bank 32 5.79% $11,950
    SUCCESS MORTGAGE PARTNERS, INC. 31 6.55% $13,266
    ENDEAVOR CAPITAL, LLC. 31 6.38% $9,814
    The Loan Store, Inc. 31 6.40% $13,462
    ZILLOW HOME LOANS, LLC 30 6.49% $11,714
    THE MORTGAGE LINK, INC. 30 6.72% $22,318
    NORWICH COMMERCIAL GROUP, INC. 29 6.35% $13,456
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 27 6.42% $14,223
    HOMEBRIDGE FINANCIAL SERVICES, INC. 23 6.73% $9,203
    Plains Commerce Bank 21 6.61% $14,890
    Cornerstone First Mortgage, Inc 20 6.79% $10,530
    MORTGAGE SOLUTIONS OF COLORADO, LLC 19 6.90% $13,583
    T2 FINANCIAL LLC 19 6.81% $12,487
    THE ANDERSON FINANCIAL GROUP, INC. 18 6.60% $9,285
    PRIMARY RESIDENTIAL MORTGAGE, INC. 18 6.73% $11,071
    AMERICAN FINANCING CORPORATION 18 5.73% $12,561
    AMERICAN FINANCIAL RESOURCES, INC. 18 6.91% $16,619
    NATIONS RELIABLE LENDING, LLC 17 6.68% $12,570
    AmRes Corporation 17 6.56% $14,561
    Bank of England 16 6.63% $11,614
    Sierra Pacific Mortgage Company, Inc. 16 6.49% $12,044
    PANORAMA MORTGAGE GROUP, LLC 16 6.55% $15,533
    Bank Five Nine 16 6.53% $7,325
    VERITAS FUNDING, LLC 15 6.27% $16,203
    PREMIER MORTGAGE RESOURCES, L.L.C. 15 6.98% $12,152
    LAND HOME FINANCIAL SERVICES, INC. 15 6.79% $13,073
    SECURITYNATIONAL MORTGAGE COMPANY 15 6.79% $11,348
    PNC Bank 15 6.75% $9,086
    ROYAL UNITED MORTGAGE LLC 14 6.76% $10,690
    GATEWAY MORTGAGE CORPORATION 14 6.86% $6,647
    PHH Mortgage Corporation 14 6.38% $12,629
    Flanagan State Bank 14 6.68% $10,691
    Home State Bank 13 6.88% $9,578
    GMFS LLC 13 6.81% $10,531
    FIRST STATE MORTGAGE SERVICES, LLC 13 6.61% $11,106
    Centier Bank 13 6.48% $6,766
    NBKC BANK 13 6.09% $12,620
    STOCKTON MORTGAGE CORPORATION 13 6.37% $14,351
    UNITED HOME LOANS, INC. 13 6.49% $9,958
    Bank of America 12 6.40% $7,311
    RAPID MORTGAGE COMPANY 12 6.95% $15,418
    Servion, Inc. 12 6.61% $10,380
    FIRST ALLIANCE HOME MORTGAGE, LLC 12 5.32% $18,030
    First National Bank of Omaha 12 6.68% $8,979
    CANOPY MORTGAGE, LLC 12 6.39% $11,092
    Old National Bank 12 6.25% $8,276
    ALAMEDA MORTGAGE CORPORATION 11 6.91% $9,749
    EMM LOANS LLC 11 6.07% $15,002
    Marquette Bank 11 6.30% $9,080
    MEMBER FIRST MORTGAGE, LLC 11 6.65% $10,384
    NATIONWIDE MORTGAGE BANKERS, INC. 10 6.80% $14,114
    AFFORDABLE MORTGAGE ADVISORS, LLC. 10 6.66% $12,548
    Wells Fargo Bank 10 6.20% $10,433
    JMAC LENDING, INC. 10 6.74% $15,656
    LADERA LENDING, INC. 10 6.46% $9,918
    Waterstone Mortgage Corporation 10 6.64% $14,059
    Citibank 10 6.20% $11,005
    CROWN MORTGAGE COMPANY 9 6.72% $15,352
    S1L, Inc. 9 6.81% $10,561
    GVC MORTGAGE, INC. 9 6.89% $9,264
    Old Second National Bank 9 6.22% $10,000
    M&T Bank 9 6.31% $8,360
    LIBERTY HOME MORTGAGE CORPORATION 8 6.75% $12,590
    Mortgage Assurance Inc. 8 6.63% $9,179
    RELIANCE FIRST CAPITAL, LLC 8 6.67% $10,895
    First Financial Bank 8 6.28% $8,652
    Texana Bank 7 6.32% $13,558
    FIRST COLONY MORTGAGE CORPORATION 7 6.48% $10,211
    Hometown Equity Mortgage, LLC 7 6.70% $11,632
    Horizon Bank 7 6.55% $7,752
    NFM, INC. 7 7.11% $15,645
    OCEANSIDE MORTGAGE COMPANY 7 6.13% $4,210
    POLARIS HOME FUNDING CORP. 7 6.57% $10,576
    RESIDENTIAL BANCORP 7 6.32% $12,429
    SUMMIT FUNDING, INC. 7 6.41% $14,606
    PENTAGON FEDERAL CREDIT UNION 6 5.79% $13,026
    INSPIRE HOME LOANS INC. 6 5.23% $9,285
    MYCUMORTGAGE, LLC 6 6.75% $11,650
    PULTE MORTGAGE LLC 6 5.90% $10,720
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 6 6.60% $12,539
    EVERETT FINANCIAL, INC. 6 6.42% $16,790
    OPEN MORTGAGE, LLC 6 6.60% $17,385
    Ameris Bank 6 6.52% $9,174
    First Merchants Bank 6 6.65% $7,941
    Allied First Bank,sb 6 6.81% $10,293
    ONY GLO, INC. 5 6.43% $11,114
    Magnolia Bank 5 6.33% $11,478
    US MORTGAGE CORPORATION 5 6.73% $12,072
    LOANPAL, LLC 5 5.43% $12,204
    ALLIANT CREDIT UNION 5 6.20% $9,579
    ROSS MORTGAGE CORPORATION 5 6.43% $12,550
    TOP FLITE FINANCIAL, INC. 5 6.85% $12,651
    BAYSHORE MORTGAGE FUNDING, LLC 5 6.93% $10,337
    Citizens Bank 5 6.38% $6,888
    NATIONS DIRECT MORTGAGE, LLC 4 6.81% $14,812
    TOTAL MORTGAGE SERVICES, LLC 4 6.91% $12,694
    TJC Mortgage, Inc. 4 5.75% $21,729
    Truist 4 6.44% $9,645
    BETTER MORTGAGE CORPORATION 4 5.81% $9,704
    Home Mortgage Alliance Corp 4 7.19% $12,137
    MLB RESIDENTIAL LENDING, LLC 4 6.41% $13,815
    DAS Acquisition Company, LLC 4 7.31% $15,048
    Loan Simple, Inc. 3 7.08% $14,577
    Commerce Home Mortgage, Inc. 3 6.54% $15,631
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 6.88% $10,209
    CHURCHILL MORTGAGE CORPORATION 3 6.50% $12,345
    TEACHERS CREDIT UNION 3 6.00% $7,985
    Paramount Bank 3 6.63% $12,748
    BECKAM FUNDING CORP. 3 6.83% $16,637
    The Union Bank Company 3 5.83% $9,860
    THOMPSON KANE & COMPANY, LLC 3 6.29% $11,494
    TruHome Solutions, LLC 3 6.25% $10,404
    AXIA FINANCIAL, LLC 3 6.54% $10,536
    NEXERA HOLDING LLC 3 5.63% $7,784
    ALLIED MORTGAGE GROUP, INC. 3 6.33% $4,841
    MJW Financial LLC 3 6.71% $11,279
    EUSTIS AND AMERICAN MORTGAGE COMPANY 3 6.79% $7,192
    Midland States Bank 3 6.58% $10,924
    Northpointe Bank 3 6.17% $13,797
    Regions Bank 3 7.08% $7,453
    North American Savings Bank, F.S.B. 2 6.13% $8,980
    HALLMARK HOME MORTGAGE, LLC 2 6.63% $11,126
    First Federal Bank 2 6.56% $10,205
    Peoples Bank 2 6.18% $6,565
    DIRECT MORTGAGE, CORP. 2 5.56% $15,635
    DEVELOPER'S MORTGAGE COMPANY 2 6.25% $14,866
    HOMESTEAD FUNDING CORP. 2 6.06% $9,600
    DELMAR FINANCIAL COMPANY 2 6.06% $12,600
    FLAT BRANCH MORTGAGE, INC. 2 6.69% $12,465
    SENTE MORTGAGE, INC. 2 6.19% $15,709
    Residential Mortgage Solutions, Inc. 2 5.50% $12,025
    Florida Capital Bank 2 6.00% $11,349
    VAN DYK MORTGAGE CORPORATION 2 7.13% $12,228
    Gateway First Bank 2 5.75% $10,956
    NexBank 2 6.69% $13,092
    NEW DAY FINANCIAL, LLC 2 7.06% $6,795
    NETWORK CAPITAL FUNDING CORPORATION 2 6.25% $12,280
    SOUTHWEST FUNDING, LP 1 7.75% $12,353
    LENOX FINANCIAL MORTGAGE CORPORATION 1 6.25% $21,526
    JLB CORPORATION 1 5.75% $9,915
    HOMEXPRESS MORTGAGE CORP. 1 7.25% $10,091
    NEW FED MORTGAGE, CORP. 1 6.25% $10,826
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.13% $14,218
    V.I.P. MORTGAGE, INC. 1 5.63% $12,534
    NORTHWEST BANK OF ROCKFORD 1 6.25% $11,343
    HighTechLending Inc 1 6.63% $6,947
    Granite Community Bank 1 6.75% $13,583
    GERSHMAN INVESTMENT CORP. 1 6.63% $12,013
    ON Q FINANCIAL, INC. 1 7.75% $18,746
    FORUM Credit Union 1 6.75% $9,118
    First State Bank of St. Charles, Missouri 1 6.25% $7,648
    First Community Bank 1 6.13% $16,128
    Fidelity Bank 1 7.00% $6,401
    FBC MORTGAGE, LLC 1 6.75% $8,944
    ENVOY MORTGAGE, LTD 1 6.63% $10,911
    Encompass Lending Group, LP 1 6.63% $23,572
    EMBRACE HOME LOANS, INC. 1 6.63% $7,962
    Republic Bank & Trust Company 1 6.63% $9,213
    WISCONSIN MORTGAGE CORPORATION 1 5.75% $7,033
    DATA MORTGAGE, INC. 1 6.25% $7,894
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.25% $11,274
    CONTOUR MORTGAGE CORPORATION 1 6.75% $11,015
    CITYWIDE HOME LOANS, LLC 1 6.50% $23,289
    SIRVA MORTGAGE, INC. 1 7.25% $10,290
    City Lending Inc. 1 7.75% $13,029
    AHL FUNDING 1 6.63% $26,527
    Sunflower Bank 1 7.75% $12,128
    Capital Bank 1 7.75% $25,382
    Busey Bank 1 5.50% $9,960
    The Central Trust Bank 1 5.63% $12,564
    Bethpage Federal Credit Union 1 6.38% $5,353
    Bell Bank 1 6.25% $9,515
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 7.00% $5,949
    Axos Bank 1 5.75% $8,801
    Union Savings Bank 1 6.25% $5,556
    UNITED MORTGAGE CORP 1 7.13% $10,274
    A + MORTGAGE SERVICES, INC. 1 6.63% $11,278
    AMERITRUST MORTGAGE CORPORATION 1 7.88% $20,409
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.63% $9,666
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 6.13% $11,675
    MORTGAGEONE, INC. 1 7.00% $13,521
    Midwest Mortgage Associates Corporation 1 6.63% $6,367

    The top Chicago FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,272 FHA loans originated. Their average total fees are $11,702, which is $1,818 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Chicago FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($6,128), RUOFF MORTGAGE COMPANY, INC. ($6,490), GATEWAY MORTGAGE CORPORATION ($6,647), Centier Bank ($6,766) and VILLAGE CAPITAL MORTGAGE ($6,923).

    The lowest rate Chicago FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.06%), FIRST ALLIANCE HOME MORTGAGE, LLC (5.32%), DHI MORTGAGE COMPANY, LTD. (5.37%), M/I FINANCIAL, LLC (5.60%) and AMERICAN FINANCING CORPORATION (5.73%).

    Chicago FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI COOK 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DEKALB 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DUPAGE 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI GRUNDY 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KANE 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENDALL 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI MCHENRY 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI WILL 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI JASPER 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI NEWTON 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI PORTER 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENOSHA 2022 $420,680 $538,650 $651,050 $809,150
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI COOK 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DEKALB 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI DUPAGE 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI GRUNDY 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KANE 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENDALL 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI MCHENRY 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI WILL 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI JASPER 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI NEWTON 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI PORTER 2023 $472,030 $604,400 $730,525 $907,900
    CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENOSHA 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chicago (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $288,700 (6.0%) $452,383 (4.3%) 1.07 27,019
    2018-02-01 $304,500 (6.1%) $471,391 (4.0%) 1.11 27,524
    2018-03-01 $325,000 (8.4%) $490,665 (4.9%) 1.14 29,305
    2018-04-01 $334,900 (7.3%) $494,784 (4.0%) 1.14 31,116
    2018-05-01 $335,000 (4.7%) $492,310 (3.1%) 1.12 33,181
    2018-06-01 $333,995 (4.4%) $484,353 (2.0%) 1.11 35,804
    2018-07-01 $327,000 (2.9%) $473,493 (0.9%) 1.09 37,861
    2018-08-01 $319,900 (4.0%) $462,089 (1.0%) 1.07 38,939
    2018-09-01 $317,000 (5.7%) $455,361 (0.7%) 1.07 39,631
    2018-10-01 $311,450 (3.8%) $450,517 (-0.8%) 1.05 39,337
    2018-11-01 $302,000 (1.7%) $447,125 (-0.8%) 1.02 37,019
    2018-12-01 $296,850 (2.4%) $439,278 (-1.2%) 1.02 32,322
    2019-01-01 $296,950 (2.9%) $442,525 (-2.2%) 1.03 29,475
    2019-02-01 $312,300 (2.6%) $464,293 (-1.5%) 1.06 29,818
    2019-03-01 $327,571 (0.8%) $478,426 (-2.5%) 1.07 31,821
    2019-04-01 $339,250 (1.3%) $486,079 (-1.8%) 1.08 33,866
    2019-05-01 $339,900 (1.5%) $482,549 (-2.0%) 1.06 36,232
    2019-06-01 $338,450 (1.3%) $477,556 (-1.4%) 1.06 38,296
    2019-07-01 $331,450 (1.4%) $470,195 (-0.7%) 1.04 39,704
    2019-08-01 $325,155 (1.6%) $461,247 (-0.2%) 1.03 40,118
    2019-09-01 $319,386 (0.8%) $454,617 (-0.2%) 1.02 40,033
    2019-10-01 $314,945 (1.1%) $449,911 (-0.1%) 1.02 39,754
    2019-11-01 $306,950 (1.6%) $444,237 (-0.7%) 1.01 36,265
    2019-12-01 $299,400 (0.9%) $440,601 (0.3%) 1.00 31,134
    2020-01-01 $299,450 (0.8%) $443,832 (0.3%) 1.00 28,367
    2020-02-01 $319,000 (2.2%) $466,426 (0.5%) 1.04 28,915
    2020-03-01 $326,550 (-0.3%) $475,570 (-0.6%) 1.02 29,490
    2020-04-01 $324,900 (-4.2%) $465,809 (-4.2%) 1.02 28,034
    2020-05-01 $329,900 (-2.9%) $477,805 (-1.0%) 1.00 28,100
    2020-06-01 $339,000 (0.2%) $489,639 (2.5%) 1.00 28,012
    2020-07-01 $344,000 (3.8%) $497,445 (5.8%) 1.00 27,048
    2020-08-01 $346,350 (6.5%) $502,586 (9.0%) 0.99 26,677
    2020-09-01 $347,000 (8.7%) $505,515 (11.2%) 0.99 26,852
    2020-10-01 $340,000 (8.0%) $500,832 (11.3%) 0.97 26,905
    2020-11-01 $334,500 (9.0%) $498,102 (12.1%) 0.98 24,409
    2020-12-01 $325,000 (8.6%) $495,332 (12.4%) 0.97 20,674
    2021-01-01 $325,000 (8.5%) $505,448 (13.9%) 0.97 17,802
    2021-02-01 $339,996 (6.6%) $544,070 (16.7%) 0.99 15,859
    2021-03-01 $349,900 (7.2%) $552,140 (16.1%) 0.99 15,575
    2021-04-01 $349,950 (7.7%) $552,512 (18.6%) 0.95 16,203
    2021-05-01 $350,000 (6.1%) $549,011 (14.9%) 0.93 17,076
    2021-06-01 $350,000 (3.2%) $537,537 (9.8%) 0.92 19,235
    2021-07-01 $349,900 (1.7%) $521,806 (4.9%) 0.92 21,317
    2021-08-01 $339,495 (-2.0%) $500,342 (-0.5%) 0.91 22,220
    2021-09-01 $330,000 (-4.9%) $491,049 (-2.9%) 0.88 22,144
    2021-10-01 $329,000 (-3.2%) $487,604 (-2.6%) 0.88 21,486
    2021-11-01 $322,400 (-3.6%) $485,721 (-2.5%) 0.86 18,712
    2021-12-01 $312,500 (-3.9%) $480,195 (-3.1%) 0.85 15,355
    2022-01-01 $314,500 (-3.2%) $492,440 (-2.6%) 0.85 12,564
    2022-02-01 $324,500 (-4.6%) $517,338 (-4.9%) 0.84 11,457
    2022-03-01 $332,500 (-5.0%) $526,309 (-4.7%) 0.83 11,868
    2022-04-01 $349,900 (0.0%) $534,868 (-3.2%) 0.83 12,067
    2022-05-01 $355,375 (1.5%) $538,395 (-1.9%) 0.81 14,480
    2022-06-01 $359,950 (2.8%) $532,521 (-0.9%) 0.80 16,656
    2022-07-01 $350,000 (0.0%) $515,494 (-1.2%) 0.79 19,291
    2022-08-01 $349,875 (3.1%) $509,289 (1.8%) 0.81 19,478
    2022-09-01 $340,000 (3.0%) $503,762 (2.6%) 0.79 19,384
    2022-10-01 $339,900 (3.3%) $499,744 (2.5%) 0.80 19,411
    2022-11-01 $329,950 (2.3%) $492,242 (1.3%) 0.79 18,653
    2022-12-01 $322,938 (3.3%) $482,288 (0.4%) 0.80 15,983
    2023-01-01 $327,450 (4.1%) $493,642 (0.2%) 0.81 14,035
    2023-02-01 $337,500 (4.0%) $519,123 (0.4%) 0.81 12,692
    2023-03-01 $352,450 (6.0%) $546,041 (3.8%) 0.83 12,065
    2023-04-01 $369,000 (5.5%) $569,789 (6.5%) 0.86 11,604
    2023-05-01 $377,150 (6.1%) $594,429 (10.4%) 0.86 11,885
    2023-06-01 $382,500 (6.3%) $592,009 (11.2%) 0.86 12,817
    2023-07-01 $389,000 (11.1%) $590,305 (14.5%) 0.88 13,667
    2023-08-01 $384,950 (10.0%) $581,283 (14.1%) 0.88 14,106
    2023-09-01 $377,000 (10.9%) $568,437 (12.8%) 0.88 14,689
    2023-10-01 $371,950 (9.4%) $562,710 (12.6%) 0.88 15,119
    2023-11-01 $360,000 (9.1%) $550,718 (11.9%) 0.86 14,971
    2023-12-01 $350,000 (8.4%) $536,637 (11.3%) 0.85 13,067
    2024-01-01 $351,190 (7.3%) $549,940 (11.4%) 0.86 11,461
    2024-02-01 $359,950 (6.7%) $575,673 (10.9%) 0.87 10,969
    2024-03-01 $374,990 (6.4%) $596,249 (9.2%) 0.88 11,106
    2024-04-01 $389,450 (5.5%) $609,529 (7.0%) 0.91 11,593
    2024-05-01 $394,950 (4.7%) $623,747 (4.9%) 0.90 12,295
    2024-06-01 $395,000 (3.3%) $603,861 (2.0%) 0.90 13,522
    2024-07-01 $394,500 (1.4%) $585,038 (-0.9%) 0.90 14,906
    2024-08-01 $385,000 (0.0%) $567,463 (-2.4%) 0.90 15,706
    2024-09-01 $379,900 (0.8%) $554,881 (-2.4%) 0.89 16,735
    2024-10-01 $371,500 (-0.1%) $542,967 (-3.5%) 0.87 17,050
    2024-11-01 $359,900 (0.0%) $530,896 (-3.6%) 0.86 16,518
    2024-12-01 $347,450 (-0.7%) $517,358 (-3.6%) 0.86 13,880
    2025-01-01 $343,498 (-2.2%) $519,117 (-5.6%) 0.86 12,423
    2025-02-01 $349,450 (-2.9%) $539,603 (-6.3%) 0.85 11,960
    2025-03-01 $360,000 (-4.0%) $549,178 (-7.9%) 0.85 12,282
    2025-04-01 $372,450 (-4.4%) $559,903 (-8.1%) 0.86 12,919
    2025-05-01 $379,900 (-3.8%) $561,415 (-10.0%) 0.86 14,082
    Chicago's median listing price for 2025-05-01 was $379,900, a difference of $-15,050 (-3.8%) versus the prior year and $7,450 versus the prior month.

    Chicago's median listing price comes in at 86% of the national average.

    Chicago's average listing price for 2025-05-01 was $561,415, a difference of $-62,332 (-10.0%) versus the prior year and $1,512 versus the prior month.

    For the 2025-05-01 period, Chicago had 14,082 MLS listings, a difference of 1,163 listings (9%) versus the prior month and 1,787 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chicago (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,898 sqft
    2018-02-01 54 days 1,955 sqft
    2018-03-01 43 days 2,000 sqft
    2018-04-01 40 days 2,022 sqft
    2018-05-01 40 days 2,027 sqft
    2018-06-01 42 days 2,021 sqft
    2018-07-01 45 days 2,000 sqft
    2018-08-01 47 days 1,986 sqft
    2018-09-01 50 days 1,971 sqft
    2018-10-01 51 days 1,938 sqft
    2018-11-01 56 days 1,904 sqft
    2018-12-01 67 days 1,870 sqft
    2019-01-01 73 days 1,866 sqft
    2019-02-01 55 days 1,908 sqft
    2019-03-01 43 days 1,966 sqft
    2019-04-01 39 days 2,000 sqft
    2019-05-01 40 days 2,000 sqft
    2019-06-01 43 days 2,000 sqft
    2019-07-01 45 days 2,000 sqft
    2019-08-01 48 days 1,972 sqft
    2019-09-01 51 days 1,941 sqft
    2019-10-01 54 days 1,918 sqft
    2019-11-01 61 days 1,900 sqft
    2019-12-01 74 days 1,870 sqft
    2020-01-01 76 days 1,863 sqft
    2020-02-01 45 days 1,918 sqft
    2020-03-01 43 days 1,959 sqft
    2020-04-01 52 days 1,929 sqft
    2020-05-01 60 days 1,950 sqft
    2020-06-01 45 days 1,939 sqft
    2020-07-01 41 days 1,906 sqft
    2020-08-01 40 days 1,872 sqft
    2020-09-01 40 days 1,807 sqft
    2020-10-01 44 days 1,792 sqft
    2020-11-01 50 days 1,731 sqft
    2020-12-01 59 days 1,700 sqft
    2021-01-01 64 days 1,682 sqft
    2021-02-01 45 days 1,680 sqft
    2021-03-01 40 days 1,676 sqft
    2021-04-01 33 days 1,693 sqft
    2021-05-01 33 days 1,702 sqft
    2021-06-01 32 days 1,728 sqft
    2021-07-01 34 days 1,728 sqft
    2021-08-01 36 days 1,703 sqft
    2021-09-01 38 days 1,690 sqft
    2021-10-01 40 days 1,669 sqft
    2021-11-01 45 days 1,641 sqft
    2021-12-01 53 days 1,602 sqft
    2022-01-01 59 days 1,600 sqft
    2022-02-01 39 days 1,600 sqft
    2022-03-01 34 days 1,620 sqft
    2022-04-01 31 days 1,653 sqft
    2022-05-01 29 days 1,700 sqft
    2022-06-01 30 days 1,718 sqft
    2022-07-01 32 days 1,728 sqft
    2022-08-01 36 days 1,717 sqft
    2022-09-01 40 days 1,703 sqft
    2022-10-01 40 days 1,705 sqft
    2022-11-01 44 days 1,702 sqft
    2022-12-01 54 days 1,694 sqft
    2023-01-01 60 days 1,700 sqft
    2023-02-01 44 days 1,702 sqft
    2023-03-01 40 days 1,743 sqft
    2023-04-01 38 days 1,782 sqft
    2023-05-01 34 days 1,800 sqft
    2023-06-01 35 days 1,800 sqft
    2023-07-01 36 days 1,813 sqft
    2023-08-01 36 days 1,802 sqft
    2023-09-01 37 days 1,800 sqft
    2023-10-01 37 days 1,794 sqft
    2023-11-01 42 days 1,779 sqft
    2023-12-01 51 days 1,759 sqft
    2024-01-01 56 days 1,759 sqft
    2024-02-01 40 days 1,765 sqft
    2024-03-01 34 days 1,800 sqft
    2024-04-01 34 days 1,800 sqft
    2024-05-01 29 days 1,840 sqft
    2024-06-01 32 days 1,825 sqft
    2024-07-01 33 days 1,824 sqft
    2024-08-01 36 days 1,800 sqft
    2024-09-01 36 days 1,794 sqft
    2024-10-01 37 days 1,772 sqft
    2024-11-01 43 days 1,750 sqft
    2024-12-01 51 days 1,713 sqft
    2025-01-01 57 days 1,698 sqft
    2025-02-01 43 days 1,705 sqft
    2025-03-01 36 days 1,711 sqft
    2025-04-01 33 days 1,734 sqft
    2025-05-01 32 days 1,756 sqft
    Chicago's median listing age (time on market) for 2025-05-01 was 32 days. This is 10% longer than the same period one year ago.

    Chicago's median square footage for active listings during the 2025-05-01 period was 1,756 sqft. One year prior, the average listing was 1,840 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).