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Summit, IL Home Values and Rents
The typical home value in Summit is $283,269, 261st highest of 696 cities and towns in Illinois. Median rent is $1,137 a month.
- Typical home value
- $283,269
- 261st of 696 in IL
- Median rent
- $1,137/mo
- ACS 2020-2024
- Price change, 1 year
- +3.3%
- Sep 2026
- Homeownership
- 60.9%
- IL: 67.1%
Home sale prices in the Chicago-Naperville-Elgin, IL-IN area
Zillow median sale price, Sep 2026
$345,909+6.4% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Summit
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Summit |
|---|---|
| Sep 2026 | $283,269 |
| Dec 2025 | $272,894 |
| Dec 2024 | $264,206 |
| Dec 2023 | $246,851 |
| Dec 2022 | $232,505 |
| Dec 2021 | $215,745 |
| Dec 2020 | $188,023 |
| Dec 2019 | $174,767 |
| Dec 2018 | $170,167 |
| Dec 2017 | $157,932 |
| Dec 2016 | $141,781 |
| Dec 2015 | $129,116 |
| Dec 2014 | $113,626 |
| Dec 2013 | $102,642 |
| Dec 2012 | $86,249 |
Over five years, Summit prices changed +32.9%.
Source: Zillow Research · Last updated 09/01/2026
Home values by ZIP code
Median home value and rent (ACS 2020-2024); price changes from the FHFA annual ZIP index
Swipe the table sideways to see more columns.
| # | ZIP code | Median value | Median rent | 1-year | 5-year |
|---|---|---|---|---|---|
| 1 | 60501 | $234,300 | $1,142 | +9.7% | +43.4% |
Fair Market Rents, FY2027
HUD rent standard for Chicago-Joliet-Naperville, IL HUD Metro FMR Area
| Unit size | Monthly rent |
|---|---|
| Studio | $1,678 |
| 1 bedroom | $1,780 |
| 2 bedrooms | $2,011 |
| 3 bedrooms | $2,586 |
| 4 bedrooms | $2,954 |
Frequently asked questions
- What is the typical home value in Summit, IL?
- The typical home value in Summit is $283,269 (Zillow Home Value Index, Sep 2026). The Illinois median is $263,300.
- How much is rent in Summit?
- The median rent in Summit is $1,137 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $2,011.
- Are home prices going up in Summit?
- The typical home value in Summit changed +3.3% over one year and +32.9% over five years, as of Sep 2026.
- How does Summit compare with the rest of Illinois?
- Summit has the 261st highest median home value of 696 cities and towns with 1,000+ residents in Illinois.
- Which ZIP code in Summit has the highest home values?
- ZIP code 60501 has the highest median home value at $234,300.