Aurora, Illinois Housing Market Prices
Updated
Aurora Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 68% above the Illinois median$252,075
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Median rent 24% above the Illinois median$1,577
Housing Market Overview
| Metric | Aurora | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,075 | $149,936 | $248,835 |
| Price Trend (Annual %) | 7.9% | 2.5% | 7.5% |
| Median Gross Rent | $1,577 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Aurora is about 68% higher than in Illinois. Rent is about 24% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Aurora, up about 7.9% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Aurora rose about 49.4% between 2015 and 2024, from $1,055 to $1,577. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Aurora.
Buying the median-priced home in Aurora costs roughly 13.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aurora. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Aurora | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,075 | $149,936 | $248,835 |
| Median Household Income | $92,311 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Aurora rose about 113.5%, while median household income rose about 53.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Aurora | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.1% | 61.9% | 58.5% |
| Rental Rate | 32.9% | 30.4% | 31.2% |
| Vacancy Rate | 3.9% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Aurora has a homeownership rate of 63.1%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Aurora | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.92 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1979 | 1969 | 1978 |
| Median Number of Rooms | 5.7 | 5.6 | 5.5 |
The typical housing unit in Aurora was built around 1979. On average, 2.9 people live in a home with about 5.7 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Aurora, Illinois.
What is the median home price in Aurora, Illinois?
The median home price in Aurora, Illinois is $252,075, higher than the Illinois average of $149,936.
What is the average home price in Aurora, Illinois?
The typical home price in Aurora, Illinois, reported as the median sale price, is $252,075. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Aurora, Illinois?
The median gross rent in Aurora, Illinois is $1,577 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Aurora in 2020?
In 2020, the median gross rent in Aurora, Illinois was $1,255 per month.
What is the price-to-rent ratio in Aurora, Illinois?
The price-to-rent ratio in Aurora, Illinois is about 13.3, meaning it would take roughly 13.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aurora.
Are home prices or rent rising faster in Aurora, Illinois?
Both home prices and rent are rising in Aurora, up about 7.9% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Aurora, Illinois?
63.1% of households in Aurora, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Aurora, Illinois?
The housing vacancy rate in Aurora, Illinois is 3.9%, lower than the Illinois average of 7.7%.
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