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Chicago, IL New Homes Under $200K

4 Communities

Heron Creek by Shodeen Homes in Chicago Illinois
Heron Creek by Shodeen Homes in Chicago Illinois

$50,000 - $463,500

Heron Creek

Sycamore, IL 60178

11 Floor Plans

Shodeen Homes

Reston Ponds by Shodeen Homes in Chicago Illinois
Reston Ponds by Shodeen Homes in Chicago Illinois

$50,000 - $861,600

Reston Ponds

Sycamore, IL 60178

29 Floor Plans

Shodeen Homes

Elburn Station by Shodeen Homes in Chicago Illinois
Elburn Station by Shodeen Homes in Chicago Illinois

$50,000 - $861,600

Elburn Station

Elburn, IL 60119

39 Floor Plans

Shodeen Homes

Norton Lake by Shodeen Homes in Chicago Illinois
Norton Lake by Shodeen Homes in Chicago Illinois

$50,000 - $861,600

Norton Lake

Saint Charles, IL 60175

32 Floor Plans

Shodeen Homes

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Market Snapshot

New Homes in Chicago by Region

RegionCommunitiesAverage New Home Price
Downtown Chicago 5$2,788,000
North Chicago 2$455,000
Northwest Chicago 6$293,000
South Chicago 8$274,000
Southwest Chicago 30$422,000

New Home Cities in Chicago

CityCommunitiesAverage New Home Price
Plainfield8$546,640
South Elgin5$437,971
Elgin5$502,626
Aurora4$450,543
Huntley4$458,865
Oswego3$446,990
Naperville3$562,817
Lockport2$471,080
Yorkville2$409,842
Lemont2$531,906
Algonquin2$485,080
New Lenox2$483,990

Chicago features many of the best home builder communities in Illinois, but finding lower priced homes has become increasingly difficult. In the last few years, the cost of building a new home in Chicago has increased substantially. Despite the rising trend of housing prices, it’s still possible to design and build an affordable home in the Chicago area. In fact, there are 4 communities and 1 builders in Chicago with homes starting at under $200K.

How to Find Homes in Chicago for Less than $200K?

Many builders recognize there is growing demand in the Chicago area for homes under the $200k price point and often have a few floor plans available, but these may be in limited supply. To ensure affordability without compromising on the quality of the home, builders may utilize value engineering techniques to reduce the cost of construction and keep the price of the home as low as possible. This may include building on a smaller lot or utilizing standard-sized materials, such as windows and doors, that provide high-value for the cost. The results are delivering similar quality at lower prices.