Home Price Index (Low Tier) for Chicago, Illinois
CHXRLTSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
279.60
Year-over-Year Change
6.10%
Date Range
1/1/1992 - 5/1/2025
Summary
The Home Price Index (Low Tier) for Chicago, Illinois tracks changes in the prices of lower-priced homes in the Chicago metropolitan area. This metric is a key indicator of housing affordability and market conditions for first-time and lower-income homebuyers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Home Price Index (Low Tier) for Chicago, Illinois measures the change in prices for the bottom third of the local housing market, as classified by sale price. This index provides important insights into the state of the city's lower-cost housing segment, which is critical for assessing the overall health and accessibility of the Chicago real estate market.
Methodology
The data is collected and calculated by the Federal Housing Finance Agency using a repeat-sales methodology.
Historical Context
Economists and policymakers monitor this index to gauge the affordability of housing for Chicago's working families and to inform policy decisions related to housing, urban development, and economic inclusion.
Key Facts
- The index is published on a quarterly basis.
- Chicago's low-tier home prices have risen 45% since 2012.
- Low-income residents spend over 30% of their income on housing.
FAQs
Q: What does this economic trend measure?
A: The Home Price Index (Low Tier) for Chicago, Illinois tracks changes in the prices of lower-priced homes in the Chicago metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the affordability and accessibility of housing for lower-income and first-time homebuyers in the Chicago region.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Federal Housing Finance Agency using a repeat-sales methodology.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to gauge housing affordability and inform policy decisions related to housing, urban development, and economic inclusion in Chicago.
Q: Are there update delays or limitations?
A: The index is published on a quarterly basis with a short delay.
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Citation
U.S. Federal Reserve, Home Price Index (Low Tier) for Chicago, Illinois (CHXRLTSA), retrieved from FRED.