HPI (2025)FHFA
201
Metro Series · Midwest · Rank #3
Home Price History in Chicago
FHFA all-transactions House Price Index for the Chicago-Naperville-Elgin, IL-IN metropolitan statistical area — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+5.6%
5-yr changeFHFA
+47%
Since 2000FHFA
+101%
Chicago's modern housing cycle has been distinctive in two ways. First, the 2007–2011 drawdown was deep (-26%) for a metro with relatively limited subprime exposure — a function of weakness in the broader Illinois fiscal environment and demographic outflows. Second, the post-2012 recovery has been the slowest of any top-10 metro: 2024 HPI is just ~1.9× the 2000 base, well below the national average. Chicago is the closest thing the U.S. has to a stable, modestly-appreciating major metro market in 2024.
The 2007–2011 housing crisis cut the Chicago HPI by 28.6% peak-to-trough — from 151.5 in 2007 to 108.2 in 2012. For context, the U.S. national HPI fell roughly 24% over the same period, so Chicago was meaningfully more affected than the national average.
The pandemic-era surge brought the Chicago HPI from 135.0 in 2019 to 201.2 in 2025 — a cumulative +49.0% move in 6 years. Compared to the U.S. national HPI's roughly 50% gain over the same period, Chicago appreciated roughly in line with the national rate.
Located in the Midwest region of the United States, Chicago is one of the 100 largest U.S. metropolitan statistical areas by population. Long-run housing appreciation in Chicago reflects a combination of regional employment trends, in-migration patterns, and local supply constraints. The full year-by-year FHFA HPI for Chicago is in the data table below.
To compare Chicago to the national U.S. housing market, see the national median price history dashboard. Other metros in the Midwest region: see the full metro index. For state-level data, see the state index.
Annual data — Chicago
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 201.15 | +5.63% |
| 2024 | 190.42 | +6.71% |
| 2023 | 178.44 | +7.18% |
| 2022 | 166.48 | +12.62% |
| 2021 | 147.82 | +8.14% |
| 2020 | 136.69 | +1.23% |
| 2019 | 135.03 | +2.83% |
| 2018 | 131.31 | +2.92% |
| 2017 | 127.59 | +3.25% |
| 2016 | 123.57 | +3.41% |
| 2015 | 119.50 | +3.60% |
| 2014 | 115.35 | +5.39% |
| 2013 | 109.45 | +1.18% |
| 2012 | 108.17 | -3.69% |
| 2011 | 112.32 | -6.41% |
| 2010 | 120.01 | -8.15% |
| 2009 | 130.66 | -10.10% |
| 2008 | 145.34 | -4.08% |
| 2007 | 151.53 | +1.11% |
| 2006 | 149.86 | +6.58% |
| 2005 | 140.61 | +10.34% |
| 2004 | 127.43 | +8.58% |
| 2003 | 117.36 | +4.14% |
| 2002 | 112.69 | +6.04% |
| 2001 | 106.27 | +6.27% |
| 2000 | 100.00 | +8.06% |
| 1999 | 92.54 | +3.90% |
| 1998 | 89.07 | +2.33% |
| 1997 | 87.04 | +2.99% |
| 1996 | 84.51 | +2.75% |
| 1995 | 82.25 | +4.15% |
| 1994 | 78.97 | +3.22% |
| 1993 | 76.51 | +2.91% |
| 1992 | 74.35 | +2.86% |
| 1991 | 72.28 | +3.48% |
| 1990 | 69.85 | +5.04% |
| 1989 | 66.50 | +8.50% |
| 1988 | 61.29 | +11.95% |
| 1987 | 54.75 | +9.37% |
| 1986 | 50.06 | +6.49% |
| 1985 | 47.01 | +4.65% |
| 1984 | 44.92 | +5.52% |
| 1983 | 42.57 | +17.69% |
| 1982 | 36.17 | -12.95% |
| 1981 | 41.55 | +7.03% |
| 1980 | 38.82 | -0.94% |
| 1979 | 39.19 | +4.40% |
| 1978 | 37.54 | +16.22% |
| 1977 | 32.30 | +16.90% |
| 1976 | 27.63 | +11.73% |
| 1975 | 24.73 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the Midwest census region and rebased to 100 in the year 2000. Coverage begins in 1975 for Chicago.