Calumet City, Illinois Housing Market

What stands out in Calumet City?

• The median asking price is $174,375: one of the cheapest of 765 tracked cities. Low entry prices help cash flow, but check what keeps them low before you buy.
• Homes for sale are down 20% on last year: among the sharpest inventory declines of 765 tracked cities. Supply is shrinking, which shifts leverage to sellers.
• Population is down 4.3% over five years: among the steepest population decline of 765 tracked cities. A shrinking population thins demand over time.

What does a shrinking population mean for Calumet City landlords?

The population in Calumet City's ZIP codes fell 4.3% over five years. 13.4% of homes are vacant, higher than 86% of tracked cities. Households still grew 3.5% while the housing stock grew 1.8%. Fewer people living in more households means rental demand has held up better than the population suggests. Check vacancy by ZIP before you buy.

Who will rent from you in Calumet City?

In Calumet City, 44 out of every 100 households rent. That is nearly half. The renter share is shrinking. Five years ago it was 45 in 100. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

The median Calumet City household earns $55,369 a year. Incomes here have grown 4.5% a year since 2019. Incomes and home prices are rising in step. A typical home costs 3.1 times the median income. Locals can afford to buy here. Your exit buyer can be a local family. At 30% of income, a tenant on the median income can pay about $1,384 a month.

To see what one Calumet City address would rent for and cash flow, run it through the app.

How does Calumet City compare with other Illinois markets?

Ranked among the 23 Illinois markets we track:

• Asking price: 5th cheapest of 23. Calumet City is at $174,375. Closest: Springfield and Quincy.
• Buyer competition: 2nd least competitive of 20. Calumet City is at 0.50 buyers per home. Closest: Oak Lawn and Rock Island.
• Time on market: the longest time on market of 23. Calumet City is at a median of 55 days on market. Closest: Champaign.
• Price cuts: 12th most price cuts of 23. Calumet City is at 18% of sellers cutting. Closest: Oak Lawn and Des Plaines.

Is now a good time to buy in Calumet City?

The median asking price is 4.8% below its Jan 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Calumet City prices rose in only 73 of the last 111 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

How much can you negotiate in Calumet City?

For every 100 homes still for sale, 50 are under contract. In 2017–2019 at this time of year it was 63. The rest are still waiting for a buyer. Few sellers are dropping their price. Your discount will come from one stale listing.

Calumet City listings spend a median 55 days on the market. That is 13% shorter than a year ago. There are 125 homes for sale in Calumet City. That is 4.5 times the tightest month on record, but below the peak of 190. Supply is shrinking against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 60+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

What numbers should you underwrite a Calumet City deal with?

• Price growth to assume — +4.9%/yr. Calumet City grew 7.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Calumet City grows about 4.9% a year. That is the number to type in. Prices fell 4.4% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 6. 18% of Calumet City listings have cut their asking price. Underwrite your exit below asking.
• Competition when you exit — -20%. Homes for sale in Calumet City are down 20% on last year, so your resale faces less competition than today's comps did.

Read when a cheap market is a warning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Calumet City?

The median asking price in Calumet City is about $174,000 as of Sep 2026, down 2.7% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Calumet City figures cover the 1 ZIP code with a Calumet City mailing address, which can reach past city limits.

Is Calumet City a buyer's or seller's market in 2026?

Neither side has the upper hand in Calumet City right now. We compare Calumet City with 2017–2019 at this time of year: there are 50 pending sales per 100 listings, against 63 then; there are 9% fewer homes for sale; listings spend 5% fewer days on the market.

Are Calumet City home prices going up or down?

The median asking price is 4.8% below its Jan 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What is the best month to buy a house in Calumet City?

Across 9 full years, Calumet City asking prices ran lowest in February, about 5.0% below the year's average. They peaked in December. The most homes for sale show up in October, about 11% above the yearly average.

What is the fair market rent in Calumet City?

HUD's fiscal year 2026 fair market rent for Cook County is $1,781 a month for 2 bedrooms and $2,294 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.