Are Home Prices Rising or Falling in Lincoln Square, Chicago?
Lincoln Square, a neighborhood in Chicago, IL, is a fast-rising housing market. Here's a look at what's behind the numbers and what it means for you.
The National Picture
In the three months ending August 2026, the median U.S. home sold for $399,000, a 2% increase from a year earlier. Affordability has improved at the national level: the typical household earns about $88,000 and now spends roughly 34% of income on housing, down from about 36% last year. Meanwhile, about 20% of active listings have seen a price drop, there are four months of supply, and the median home goes under contract in 50 days.
Home Prices in the Chicago Area
The median home in the Chicago metro sells for about $394,000. Across the metro, a typical household earns around $99,000 per year and directs roughly 35% of that income toward housing costs. That share has barely shifted from a year ago, so while the national picture has brightened slightly, Chicago-area affordability has stayed put.
A Steep Climb in Home Values
Lincoln Square's median sale price jumped 16% year over year to $637,000. Sellers here are in a strong position: about 63% of homes sold above asking, and the typical sale closed at nearly 105% of list price. Just 9% of listings have had a price cut, and homes sell in a median of 39 days. Nearby Lake View also posted double-digit gains at 11%, but Lincoln Square's pace has been even faster.
Why Are Prices Rising in Lincoln Square?
Buyer demand has surged ahead of new supply. New listings rose 24% and active inventory grew 26%, but pending sales climbed 19% — enough to keep the market tight at 1.6 months of supply. More homes are hitting the market, yet buyers are absorbing them quickly. That dynamic has kept sellers in the driver's seat and pushed prices sharply higher.
| Neighborhood | Median Price | Price YoY | Price Drops | Months of Supply |
|---|---|---|---|---|
| Lincoln Square ★ | $637,192 | 15.9% | 8.5% | 1.6 |
| Lake View | $610,705 | 11.2% | 8.6% | 1.7 |
| North Shore | $764,631 | 3.5% | 16.0% | 2.1 |
| Central Chicago | $439,788 | 4.7% | 16.4% | 2.5 |
| North Side | $719,653 | 12.4% | 9.1% | 1.6 |
| Downtown Chicago | $439,788 | 6.0% | 17.0% | 2.6 |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending August 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
Categories
Recent Posts
