Market Intelligence · IL / Elgin

Elgin, IL 60123 Housing Market

The typical home in Elgin's 60123 ZIP code is worth $314,550, up 4.9% over the past year as of September 2026. Homes listed there carry a median asking price of $332,400 and spend a median of 31 days on the market.

Updated September 2026Median value$315K

The median home value in Elgin, IL 60123 is $315K as of September 2026, up 4.9% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 60123 range

$289K to $340K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+4.9% over 12 months

Sep 2025$300K

Low $300KHigh $315K

Sep 2026$315K

The numbers

What is the 60123 housing market like?

As of September 2026

Typical home value

$315K

4.9%YoY

Median list price

$332K

7.6%MoM

Days on market

6.9%MoM

Homes for sale

2.0%MoM

Price cuts

17.7%

201.4%MoM

New listings

35.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

60123 housing market forecast 2027

+2.5%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 60123 to rise 2.5% by September 2027.

Over the 12 months through September 2026, typical home values in 60123 rose 4.9%, per the Zillow Home Value Index.

Will home prices drop in 60123?

Zillow's forecast does not call for a drop: it expects typical home values in 60123 to rise 2.5% by September 2027, after a 4.9% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 60123 home prices compare?

60123$314,550
Elgin$314,550
Illinois$194,737
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Elgin: 3 ZIPs; Illinois: 1,084 ZIPs; United States: 26,262 ZIPs).

Context

Sellers in 60123 are working with a market that still favors well-priced homes. As of September 2026, there were 49 homes for sale, with 26 new listings coming on that month. Homes moved in a median of 31 days, and only 17.7% of listings had taken a price cut. Typical values sit at $314,550, up 4.9% over the past year, while the median list price is $332,400. For a seller, the takeaway is simple: accurate pricing from day one matters more than testing the ceiling.

Monthly payment

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Home price

Down payment20% · $62,910

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Common questions

What people ask us.

How much is a home in 60123 worth?

The typical home value in Elgin's 60123 ZIP code is $314,550 as of September 2026, up 4.9% over the past year.

How fast are homes selling in 60123?

Homes in 60123 spent a median of 31 days on the market as of September 2026.

How many homes are for sale in 60123?

There were 49 homes for sale as of September 2026, with 26 new listings added that month.

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