Chicago’s Most Affordable Homes are in Indiana Actually

Highland, Indiana, is the only town near Chicago to make Realtor.com’s top 10 hottest ZIP codes this year.

The Chicago suburb ranked ninth in the website’s list, down from sixth a year earlier, Crain’s reported.

With affordability at the forefront of homebuyers’ minds, Highland remains a sought-after location, particularly for its lower priced homes, manageable property taxes, quieter lifestyle and proximity to Chicago, said Jessica Soetan, an agent with Premier Midwest Realty.

“Highland has a very hometown feel, but you’re still close to Chicago,” she said.

Despite the strong demand from homebuyers, the town’s real estate market has experienced a slight cooldown this year, with homes typically spending 21 days on the market, compared to just 19 days last year. However, interest in Highland properties continues to grow, with listings receiving 3.3 times more views this year than the average listing nationwide, up from 2.9 times last year.

Industry experts attribute this sustained popularity to Highland’s affordability and strategic location. Manny Hernandez, an agent with Simplify Your Move in nearby St. John, Indiana, highlighted the value Highland offers to homebuyers.

“You get a lot more house for your money than you can in the surrounding area,” Hernandez said. “But you get a nice sense of community and good schools.”

The median home price in Highland over the past year was $241,850, significantly lower than in neighboring towns such as Crown Point ($314,900), Munster ($334,900), and St. John ($444,990). This price differential makes Highland an attractive option for buyers seeking to stretch their dollars further while maintaining ties to the Chicago metropolitan area.

Highland’s housing market isn’t just affordable; it’s also fast-paced.

Recent sales have shown just how quickly homes can move off the market. A three-bedroom house on Garfield Avenue lasted only two days before selling for $300,000, slightly above the asking price. Similarly, a property on Franklin Street found a buyer in just five days and sold for over the asking price. Another home on Cottage Grove Avenue was snapped up three days after being listed, closing at $310,000, about 3 percent above the seller’s ask.

When Marco Lopez, an agent with Seramur Properties, moved from Chicago to Indiana in 2021, he did so citing the relatively short commute.

Lopez explained that his own commute from Highland to Chicago’s Northwest Side only lasted about 45 minutes. When Lopez decided to list own home for $400,000, he was confident the property would be scooped up quickly. Ultimately, his home on Northwood Lane remained on the market for less than a week before finding a buyer for $405,000, about 1 percent over the asking price.

The heat in the Highland market, he said, “is due to the proximity to Chicago.”

— Andrew Terrell