Foreclosure Homes in Elgin, IL

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View this home at Congdon Ave Elgin IL 60120
$285,341 EMV
View this home at Route 58 Elgin IL 60120
View this home at Route 58 Elgin IL 60120
View this home at W Chicago St Elgin IL 60123
1 View this home at W809 Bending Ln Elgin IL 60124
$640,000 List Price

4 Bed | 3 Bath | 4,100 Sq. Ft.

1 View this home at Corron Rd Elgin IL 60124
$735,000 List Price

4 Bed | 3 Bath | 3,352 Sq. Ft.

View this home at Page Ave Elgin IL 60120
$250,865 EMV
View this home at Dupage St Elgin IL 60120
View this home at S Crystal St Elgin IL 60123
$140,219 EMV
View this home at Logan Ave Elgin IL 60120
$295,273 EMV
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Elgin, IL Foreclosures

How much do homes sell for in Elgin, IL?
The average home price is currently $306,331.
In Elgin, IL, how many homes are available?
There are currently 33,941 active home listings available in Elgin.
What’s the average rental cost in Elgin, IL?
The average rental price in Elgin is $1,653.
What is the most expensive home in Elgin, Illinois?
The most expensive home sold in Elgin had a price of $20,123,600.
What is currently the cheapest priced home in Elgin, IL?
The cheapest home for sale in Elgin is priced at $17,746.

Home Value Estimator For Elgin, IL

There are currently 33,941 real estate properties in Elgin, IL, with a median automated valuation model (AVM) price of $279,159.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Elgin, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Elgin, IL, is $306,331.00, with the most expensive house in Elgin, IL, topping out at $20,123,600.00 and the cheapest home in Elgin, IL, clocking in at $17,746.00. In other words, there’s something for every potential homebuyer or savvy investor in Elgin, IL!

Rent Prices In Elgin, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Elgin, IL, is on a rollercoaster ride. The average rent price in Elgin, IL, is $1,653.00. Indeed, when looking to rent in Elgin, IL, you can expect to pay as little as $650.00 or as much as $5,500.00, with the average rent median estimated to be $1,530.00. The good news is that finding an affordable and desirable property to rent in Elgin, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Elgin, IL In 2024

Elgin is located in Kane, Illinois, with an estimated municipal population of 110,849 residents. All of the best foreclosed homes for sale in Elgin are located in the following zip code areas on 60120 60123 60124 60121 60122. The estimated population per square kilometer (.62 miles) in Elgin is 1,141.

Cost Of Living In Elgin, IL

So, about how much do homes cost in Elgin? The most recent median value of resident-owned homes in Elgin is 185,691. An estimated 69.8 percent of households in Elgin own their homes, with an average family size of 3.58. The median household income in Elgin is 69,041, with31.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Elgin, the median commute time of resident workers (in minutes) is 28.5. And last, but certainly not least, are you looking for homes to rent in Elgin? If so, the average rent price paid by renters in Elgin is 1,069, according to recent statistics.

Diversity And Demographics In Elgin, Illinois

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Elgin, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Elgin is 35, split between 49.6 percent male versus 50.4 female. The percentage of residents who report being married in Elgin is 50, with an average family size of 3.58.

The percentage of residents who report their race in Elgin is as follows:

White 61.8%
Black / African American 5.9%
Asian 5.9%
American Indian / Alaskan Native 0.7%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3.2%
Other 22.4%

Looking for family-friendly neighborhoods in and/or near Elgin? Or maybe you are searching for 55+ active adult communities in and/or near Elgin?

The percentage of residents who report their age in Elgin is as follows:

Under 10 14.8%
Aged 10-19 14.6%
20s 13.5%
30s 14.1%
40s 12.8%
50s 12.3%
60s 10%
70s 5.4%
80+ 2.3%

Best Schools In Elgin, Illinois

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Elgin with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Elgin.

Pros And Cons Of Living In Elgin, Illinois

How do you know that living in -- or moving to -- Elgin is right where you need to be? Perhaps you grew up in Elgin or already live nearby; therefore, the decision to buy a home in Elgin is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Elgin for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Elgin:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Elgin.

Reasons To Move To Elgin, Illinois, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Elgin can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Elgin, meanwhile, can field multiple offers from more qualified buyers.

Elgin, IL Foreclosures


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