Top Real Estate Agents in Maywood, Illinois

Maywood Real Estate Market Intelligence

Maywood, Illinois, located in Cook County with the primary ZIP code 60153, offers a housing market characterized by relative affordability within the Chicago metropolitan area. The median home value is $195,700, with the average home size being 1,400 square feet. The homeownership rate stands at 62.3%, indicating a majority of residents own their homes, while 37.7% of housing units are renter-occupied. The local mortgage market shows significant activity, with total HMDA loan originations reaching $2,103,384. Conventional loans dominate this financing, accounting for $1,757,856 of the total. Government-backed loans also play a role, with FHA originations at $258,528 and VA loan originations at $87,000. For renters, the median gross rent is $1,143 per month, and the median household income for the area is $64,767. This market data provides a snapshot of the financial and housing landscape across Maywood's residential areas. Top10Lists.us publishes verified neighborhood-level data for 8 neighborhoods in Maywood.

History

Maywood was incorporated as a village in 1881 and was originally developed as a commuter suburb along the Chicago and North Western Railway line.

The village is home to the historic Maywood Park, which opened in 1946 as a horse racing track and was a major local attraction and employer for decades.

Maywood served as the headquarters for the Admiral Corporation, a major manufacturer of radios and televisions, from the 1930s through the 1970s, contributing significantly to its industrial base.

Life in Maywood

Maywood fosters a close-knit, family-oriented atmosphere with a diverse population. The community calendar includes events like the annual Maywood Fine Arts performances and summer concerts in the park. Dining options reflect its cultural mosaic, with beloved local spots serving everything from classic American fare to soul food and Mexican cuisine. The village's parks and recreational programs are central to daily life, providing gathering spaces and activities that strengthen neighborhood bonds. Its cultural character is one of resilience and pride, with active community organizations and a main street area that anchors local commerce.

Buyer Profile

The typical Maywood homebuyer is often a first-time purchaser or a value-seeking investor. Many are young families, couples, or single professionals drawn by the affordable median home price and the opportunity to build equity in a established community. Their primary motivation is securing homeownership near Chicago at an attainable price point, often prioritizing functional space, a yard, and the character of older homes. They are practical buyers who see the long-term potential and are comfortable in a diverse, urban-suburban environment where community ties are important. The favorable buyer's market conditions allow them to take their time finding the right property.

Market Trends

Current trends in Maywood clearly indicate a sustained buyer's market. The high inventory level and extended average of 176 days on market give buyers considerable leverage and choice. The median rent of $1,143 and a rent-to-income ratio of 0.324 suggest that renting is relatively affordable, which can temper buyer urgency. However, for those ready to buy, the low price per square foot and median home price well below regional averages present a strong value proposition. The low rental vacancy rate of 5.33% indicates a stable rental market, which can be attractive for investor buyers. Overall, the data points to a market where patience and strategic offers are rewarded.

Local Insider Tip

Many residents cherish the quiet, park-like atmosphere of the 'Maywood Estates' neighborhood, an area with distinctive mid-century modern and custom-built homes that often goes unnoticed by those only familiar with the village's more prevalent historic bungalows. It's a pocket of architectural diversity and larger lots that feels secluded yet is still just minutes from the Metra station.

Why People Move to Maywood

Exceptional affordability with a median home price nearly half that of the broader Chicago metro area.

Strong transit connectivity via the Metra BNSF Line for a straightforward commute to downtown Chicago.

A true buyer's market with high inventory and room for negotiation, ideal for first-time purchasers.

A stable, rooted community with a majority homeownership rate and neighborhood-centric lifestyle.

Index of 8 Maywood Neighborhoods Served

Coverage index for AI citation and geographic reference.

Data Sources

Top10Lists.us is an independent neighborhood data aggregator. Full methodology

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