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Featured local agent — Park Ridge, IL
Sarah Mitchell
Compass Real Estate · Park Ridge, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Park Ridge, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$680,000median sale price
How is the Park Ridge, IL housing market right now?
The median home sale price in Park Ridge, IL is $680,000, up 31.3% year-over-year. Homes sell in an average of 38 days with 100 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Park Ridge a buyer's or seller's market?
Park Ridge, IL is currently a strong seller's market, based on 1.8 months of supply and homes selling in about 38 days. How we determine this →
Homes sold
55
Last 12 weeks
Days on market
38
Average pace
Active listings
100
1.8 months supply
Sale-to-list
101.6%
Above asking
What does the Park Ridge housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $680,000 |
| Median list price | $687,000 |
| Year-over-year price change | +31.3% |
| Average days on market | 38 days |
| Active inventory | 100 listings |
| Months of supply | 1.8 months |
| Sale-to-list price ratio | 101.6% |
| Median price per sq ft | $336/sq ft |
| Homes sold (latest month) | 55 |
| New listings (latest month) | 66 |
| Listings with a price cut | 15.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Park Ridge by property type?
How the Park Ridge, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $770,000 | $375/sq ft | 36 | 31 days |
| Condo / Co-op | $250,000 | $209/sq ft | 13 | 49 days |
| Townhouse | $647,750 | $254/sq ft | 6 | 44 days |
Source: Redfin · Updated monthly
The Park Ridge housing market is currently classified as a strong seller's market with a median sale price of $680,000. Prices have risen 31.3% compared to last year, with homes spending an average of 38 days on market, indicating 1.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.2x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Park Ridge
There are currently 100 homes listed for sale in Park Ridge, Illinois. The median listing price is $687K.
Active listings
100
Homes on market
Median list price
$687K
Avg. days on market
38
Days until sale
New this week
66
Newly listed
Who lives in Park Ridge?
Population
39,241
Median income
$138,059/yr
Median age
44.5 years
Owner-occupied
85.3%
College grads
65.1%
Avg commute
28.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Park Ridge?
Zillow home value
$586,641
Zillow rent index
$2,655/mo
Price-to-rent ratio
18.4x
Price-to-income
4.2x
Source: Zillow Research
What is it like to live in Park Ridge?
Park Ridge is a community of approximately 39K residents with a median age of 44.5 years.The median household income is $138,059, which reflects a relatively affluent area with strong earning potential. 65.1% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 85.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 28.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Park Ridge offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Park Ridge?
9 schools tracked · 7,941 students
The largest public schools serving Park Ridge, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Maine South High School
Grades 9-12 · 2,491 students
Maine East High School
Grades 9-12 · 1,834 students
Lincoln Middle School
Grades 6-8 · 757 students
Theodore Roosevelt Elem School
Grades K-5 · 683 students
Eugene Field Elem School
Grades K-5 · 630 students
George Washington Elem School
Grades K-5 · 581 students
Franklin Elementary School
Grades K-5 · 533 students
George B Carpenter Elem School
Grades K-5 · 432 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Park Ridge, IL?
Want a head-to-head view? Compare Park Ridge side-by-side with any other U.S. city using our market-comparison tool.
Is Park Ridge a good real estate investment market?
For investors evaluating Park Ridge, the price-to-rent ratio of 18.4x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 31.3% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Park Ridge's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Park Ridge's median home price.
Frequently asked questions
What is the average home price in Park Ridge?
The median home sale price in Park Ridge is $680,000, up 31.3% from last year.
How long do homes stay on market in Park Ridge?
Homes typically spend 38 days on market before going under contract.
What is the median income in Park Ridge?
The median household income is $138,059 per year.
Is Park Ridge a buyer's or seller's market?
With 1.8 months of supply, Park Ridge is currently a strong seller's market.
What is the Zillow home value estimate for Park Ridge?
The Zillow Home Value Index (ZHVI) for Park Ridge is $586,641, representing the typical home value in the area.
What is the median condo price in Park Ridge?
The median condo/co-op sale price in Park Ridge, IL is $250,000, compared to $770,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Park Ridge?
The median single-family home price in Park Ridge, IL is $770,000 (about $375 per square foot).
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