Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Hoffman Estates area can be challenging. Home prices in Hoffman Estates are now at a median cost of $263,299, higher than the Illinois average of $242,002.
The average cost of rent is $1,715/mo in Hoffman Estates, primarily driven by the current value of real estate in the Hoffman Estates area. While nearly 30.03% of residents own their homes outright in Hoffman Estates, 35.54% rent.
Housing affordability isn’t just about home prices, though. The average household income in Hoffman Estates is $8,004 per month. Households that rent pay about 21.43% of their income on rent here. Hoffman Estates's most expensive areas are in the northern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Schaumburg, IL: less expensive homes
- South Barrington, IL: higher priced homes
- Inverness, IL: higher priced homes
- Streamwood, IL: less expensive homes
- Rolling Meadows, IL: less expensive homes
- Hanover Park, IL: less expensive homes
- Roselle, IL: equally priced homes
- Palatine, IL: equally priced homes
- Elk Grove Village, IL: less expensive homes
- Barrington, IL: higher priced homes
Cities with Similar Populations
- Brookline, MA: higher priced homes
- Port Arthur, TX: less expensive homes
- Methuen Town, MA: higher priced homes
- Minnetonka, MN: higher priced homes
- Monroe, MI: less expensive homes
- Montgomery, TX: higher priced homes
- Morgan Hill, CA: higher priced homes
- New Iberia, LA: less expensive homes
- Normal, IL: less expensive homes
- North Highlands, CA: equally priced homes
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