New Construction
New construction is concentrated in the outer suburban ring in Joliet, Elgin, Oswego, and Plainfield, where homes are available from $320,000 to $550,000 in developing corridors.
Chicago, Illinois · New Homes
New homes in Chicago.
Chicago is the dominant Midwest metro, with more Fortune 500 headquarters than any city outside New York and Los Angeles, creating an enormous corporate employment base that anchors housing demand across a vast suburban footprint stretching from Naperville to Waukegan.
New construction is concentrated in the outer suburban ring in Joliet, Elgin, Oswego, and Plainfield, where homes are available from $320,000 to $550,000 in developing corridors.
At a glance
Chicago market snapshot
Median Home Price
$330,000
Median Rent
$1,550
Market Trend
Stable
Cost of Living Index
105
Why Chicago
What makes Chicago different
Why People Move Here
Major corporate headquarters concentration and world-class cultural institutions and affordability in suburban markets and central U.S. location
Schools
Naperville Community Unit School District 203 consistently ranks among Illinois top-performing large districts, driving enormous demand in western suburb corridor making Naperville one of the most consistently valuable suburban markets in Midwest.
Top Neighborhoods
Naperville, Aurora, Schaumburg, Oak Park, Evanston, Arlington Heights, Joliet, and Elgin
Major Employers
Boeing global headquarters and United Airlines world headquarters at O'Hare and Walgreens Boots Alliance in Deerfield and Caterpillar in Deerfield, Kraft Heinz, and Hyatt Hotels global headquarters
Who's building
Top builders active in Chicago
Reach Chicago buyers
Builders: feature your communities in front of Chicago buyers — learn about advertising ↗
Want to own this market? Ask about our Chicago domains — see available domains ↗
Common questions
Chicago FAQ
Is Chicago a good place to buy a home?
Chicago offers exceptional corporate employment diversity and significant suburban affordability and world-class cultural amenities, though Illinois property taxes among highest in country.
What is the median home price in Chicago?
The median home price in Chicago is approximately $330,000 with significant variation from inner suburb prices above $600,000 to outer ring communities well below $350,000.
Which Chicago suburbs have the most new construction?
Joliet, Elgin, Oswego, Plainfield, and Bolingbrook lead Chicago metro in new construction with builders offering communities along major interstate corridors.
Is Chicago good for real estate investors?
Chicago offers strong long-term rental demand from corporate employment base and large university population, though high property taxes require careful underwriting.
What is driving Chicago housing stability?
Fortune 500 headquarters and O'Hare economic activity and University of Chicago and Northwestern and vast diverse employment base maintain steady Chicago housing demand.
Search Chicago new homes
Look up homes in Chicago
Search new construction and resale in Chicago and connect with a licensed professional.
Search Chicago homes ↗Get connected
Find your Chicago new home
Tell us your area, budget, and timeline and we'll point you to communities that fit.
Get connected in ChicagoExplore more
Where to go next
See this month's builder incentives in Chicago
Tell us what you're looking for — buy, sell, both, invest, rent, or you're an agent, builder, vendor, or advertiser. Include where you want to buy or sell and your address if relevant, and we'll route you to the right resource.
Buyer · Seller · Both · Investor · Renter · Agent/Broker · New Home Builder · Vendor/Service Pro · Advertiser · Other