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Chicago Homes Under $200k

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 10 communities and 4 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.

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            10 Communities

            Quick Move-In Hot Deals

            Stonegate Duplex by Lennar

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            Stonegate Duplex by Lennar in Chicago Illinois
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            Lennar in Manhattan, IL

            From $188,990 - $213,100

            24724 McCormick Way
            Manhattan, IL 60442

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            Builder Community
            3 homes match your search

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            Lakewood Springs by M/I Homes

            Lakewood Springs by M/I Homes in Chicago Illinois
            homes in Lakewood Springs by M/I Homes
            M/I Homes in Plano, IL

            From $199,490 - $259,678

            3908 Carey Street
            Plano, IL 60545

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            Builder Community
            1 home matches your search

            The Townes of Westbury by M/I Homes

            The Townes of Westbury by M/I Homes in Chicago Illinois

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            homes in The Townes of Westbury by M/I Homes
            M/I Homes in Kildeer, IL

            Il-22 & Corporate Drive
            Kildeer, IL 60047

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            Sterling Place by M/I Homes

            Sterling Place by M/I Homes in Chicago Illinois

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            M/I Homes in Northbrook, IL

            1943 Kingsley Circle
            Northbrook, IL 60062

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            Sigwalt 16 by Taylor Morrison

            Sigwalt 16 by Taylor Morrison in Chicago Illinois

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            Taylor Morrison in Arlington Heights, IL

            215 West Sigwalt Street
            Arlington Heights, IL 60004

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            Builder Community

            Autumn Creek Townes by Pulte Homes

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            Autumn Creek Townes by Pulte Homes in Chicago Illinois
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            Pulte Homes in Yorkville, IL

            From $167,990

            1439 Crimson Lane
            Yorkville, IL 60560

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            Builder Community
            2 homes match your search

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            Stonegate Townhomes by Lennar

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            Stonegate Townhomes by Lennar in Chicago Illinois
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            Lennar in Manhattan, IL

            From $168,990 - $202,455

            24724 McCormick Way
            Manhattan, IL 60442

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            Builder Community
            9 homes match your search

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            Raintree Village - Townhomes by Lennar

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            Raintree Village - Townhomes by Lennar in Chicago Illinois
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            Lennar in Joliet, IL

            From $195,990 - $234,497

            8601 Buckingham Road
            Joliet, IL 60431

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            Builder Community
            1 home matches your search

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            The Square at Goodings Grove by M/I Homes

            The Square at Goodings Grove by M/I Homes in Chicago Illinois

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            M/I Homes in Homer Glen, IL

            1347 Glengary Drive
            Homer Glen, IL 60491

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            Country Club Hills by Lennar

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            Country Club Hills by Lennar in Chicago Illinois
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            Lennar in Fox Lake, IL

            From $172,490 - $223,990

            By Appointment Only
            Fox Lake, IL 60020

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            Builder Community
            1 home matches your search

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            Top New Home Cities in Chicago

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            CityCommunitiesAverage New Home Price
            Plainfield9$334,133
            Naperville8$560,901
            Joliet6$252,187
            Yorkville6$267,373
            Montgomery5$280,490
            Elgin5$380,359
            Lemont4$510,567
            Aurora4$283,588
            Hawthorn Woods4$488,750
            Manhattan4$224,228
            Shorewood4$319,019
            Batavia3$340,391

            New Homes in Chicago by Region

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            RegionCommunitiesAverage New Home Price
            Downtown Chicago 114$1,215,000
            North Chicago 15$425,000
            Northwest Chicago 7$429,000
            South Chicago 34$353,000
            Southwest Chicago 146$451,000