Wicker Park in Chicago experienced an increase in its effective property tax rate, moving from 1.8% in 2016 to 2.1% in 2025—a 0.3 percentage point rise over 10 years, based on data from BlockShopper.com.
Citywide, Chicago’s average effective property tax rate held steady at 1.4% from 2016 to 2025. Wicker Park’s rate in 2025 stood above the city average.
When all 110 neighborhoods in Chicago were analyzed, Wicker Park posted the 23rd largest increase in effective property tax rates in that period.
In 2025, Wicker Park also ranked fourth among Chicago neighborhoods for its current effective property tax rate of 2.1%.
This figure is 2.4 times higher than the U.S. average effective property tax rate of 0.888% in 2024.
The national median home price reached about $447,000 in June 2025, a 1.13% increase from one year earlier, according to Redfin. The same data show a gap in supply and demand, with 36% more sellers than buyers—a difference of 508,715 homes. Redfin considers a market balanced when seller and buyer numbers are within 10% of one another.
Even if tax rates fall or hold steady, homeowners may still pay more in taxes when property values increase. Since property taxes are determined by both the tax rate and a home’s assessed value, rising prices can lead to a higher tax bill regardless of whether the local government lowers the rate. The average effective property tax rate for a median-priced home in the largest city in each state declined by more than 5% between 2023 and 2024, according to a Lincoln Institute of Land Policy analysis.
Meanwhile, the expansion of property values has raised the overall tax base in many locations. Since property taxes are tied to market value, higher home prices can generate larger tax bills even if rates are steady or falling. Research on U.S. housing markets has found that every 1% uptick in median home value is linked to about a 0.71% drop in the effective tax rate, suggesting that while surging home prices can lower rates, they also increase tax revenues.
| Year | Effective Property Tax Rate |
|---|---|
| 2025 | 2.1% |
| 2024 | 2.2% |
| 2023 | 1.9% |
| 2022 | 2% |
| 2021 | 2.1% |
| 2020 | 1.9% |
| 2019 | 2% |
| 2018 | 2% |
| 2017 | 1.8% |
| 2016 | 1.8% |
Details in this report were sourced from BlockShopper.com. Find the original data here.
