These Chicago-Area Counties Are At Risk For Housing Market Decline

CHICAGO — Six Chicago-area counties are among the 50 nationwide most vulnerable to housing market decline, according to a recent impact risk report from analytics curator ATTOM.

The report, which identified the counties most at risk based on home affordability and equity in the third quarter of 2024, said six Chicago-area counties were among those across the country most vulnerable to housing market troubles. Other at-risk markets included certain counties in New Jersey, California and Florida, according to ATTOM, which noted markets in the southern U.S. tended to be less vulnerable.

The Chicago-area counties among those most at-risk were: Cook, Will, Kane, Kendall and McHenry counties in Illinois, and Lake County in Indiana, ATTOM reported.

“As with past reports, this one is not meant to suggest any given area is about to fall or is immune from problems,” CEO Rob Barber said, according to ATTOM. “Rather, it spotlights locations that look to be more or less able to withstand significant changes in market conditions.”

Housing market risk was determined based on the rate of homes facing possible foreclosure, the portion of mortgage balances exceeding estimated property values, the percentage of typical wages needed to pay for major home ownership costs on a median-priced house, and unemployment, according to ATTOM.