Evanston's typical home value is approaching $500,000, up 7.7% from a year ago, according to Zillow data reported by Evanston Now on Wednesday, July 29.

The gains outpace national trends. Inventory is so tight that sellers firmly hold the upper hand, with homes moving quickly across the city, according to Patch's Thursday, July 30 summary of local market conditions, which cited unnamed area Realtors. Higher mortgage rates, meanwhile, are making purchases tougher for many residents even as prices climb.

The acceleration is visible in the data. An earlier Evanston Now report in June put the typical home value at roughly $484,000, up 7.1% year over year at that point. Redfin's market page rates Evanston 74 out of 100 for competitiveness, with an average house price of $495,000 in the most recent month tracked.

The pattern mirrors other North Shore communities but carries particular weight in Evanston, where rising costs are reshaping who can afford to live in the city. In a guest essay published Tuesday, July 28 in the Evanston RoundTable, 1st Ward Councilmember Clare Kelly and Skokie Trustee Gail Schechter argued that both Evanston and Skokie are "gradually becoming more exclusive places to live — communities where increasingly only the highest earners can afford to buy or rent."

Kelly and Schechter wrote that prices are rising faster than incomes, and pointed to what they described as Evanston's Black population declining from 23% in 1990 to roughly 14%. They attributed the shift to high-priced multifamily developments, conversions of low-cost housing, property tax increases, and landlord neglect.

Zoning rewrite looms

The housing pressure adds urgency to Evanston's planned zoning code rewrite, the second step of the Envision Evanston 2045 comprehensive plan adopted in January 2026. The rewrite aims to address a housing shortage, increase density near transit, and streamline development approvals.

City Council delayed choosing a consultant to lead the rewrite on Tuesday, July 28. Two firms submitted proposals: Code Studio, at an estimated $1.09 million over 18 to 24 months, and McKenna, at roughly $369,400 over 15 months. City staff recommended Code Studio, whose proposal lists addressing housing affordability and supply as a key issue, according to Evanston Now's reporting on the consultant candidates.

The consultant selection is scheduled to return to City Council on Monday, August 24.