Are Home Prices Rising or Falling in Schaumburg, IL?

The housing market in Schaumburg, a city near Chicago, IL, continues to heat up. The median sale price rose 9.6% year over year to $372,753, well above the national pace and one of the stronger gains among the larger suburbs northwest of Chicago. Here's what the data shows and what buyers and sellers should keep in mind.

The National Picture

Nationally, median home prices reached about $399,000 in the three months ending August 2026, up 2% year over year. The average American household earns roughly $88,000 and now spends about 34.4% of income on housing, down 1.6 points. Price drops appear on about 20% of listings, and four months of supply sit on the market across the country.

Home Prices in the Chicago Area

Across the Chicago metro, a typical household earns around $99,000 and devotes about 35.1% of income to housing. Schaumburg's median of $372,753 is well below the income-required threshold of $115,000 for the metro area, positioning it as a relatively affordable suburb for households earning near the metro median.

Strong Demand Is Pushing Prices Higher

Schaumburg's 9.6% gain outpaces several nearby markets. Arlington Heights saw prices rise 4.7% to $497,171, while Palatine gained 3.6% to $394,739 and Orland Park rose 3.1% to $386,744. Within Schaumburg, the Golden Corridor area grew at a similar 9.3% clip, reaching $437,039. The Towne Place neighborhood, a lower-priced pocket at $299,855, bucked the trend with a 1.7% decline. About 48.2% of Schaumburg homes sold above asking, and only 17.4% of listings carried a price cut.

Why Are Prices Rising in Schaumburg?

Schaumburg's price acceleration stems from steady demand meeting a supply that hasn't kept pace. Active listings grew just 2.9% and new listings rose only 3.2%, barely adding to what was already a limited pool. Pending sales increased 4.9%, and the 2.0 months of supply indicates the market remains firmly tilted toward sellers. Homes sell in a median of 46 days, and the sale-to-list ratio of 100.4% shows buyers paying roughly at asking. With the lowest price-drop rate among nearby suburbs (17.4%), sellers have had little reason to discount.

Limited to neighborhoods with at least 10 home sales in the period.

All data comes from Redfin and represents a three-month rolling average ending August 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.