Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Bartlett | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $507,983 | $162,405 | $242,182 |
| Price Trend (Annual %) | 15.7% | 3.9% | 8.2% |
| Median Gross Rent | $1,823 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bartlett is about 213% higher than in Illinois. Rent is about 49% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Bartlett, up about 15.7% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Bartlett rose about 36.2% between 2015 and 2023, from $1,338 to $1,823. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Bartlett.
Buying the median-priced home in Bartlett costs roughly 23.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bartlett. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Bartlett | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $507,983 | $162,405 | $242,182 |
| Median Household Income | $126,756 | $82,179 | $78,145 |
| Price-to-Income Ratio | 4.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Bartlett rose about 152.4%, while median household income rose about 49.7% between 2009 and 2023 — 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 | Bartlett | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 86.6% | 61.4% | 58.2% |
| Rental Rate | 11.1% | 30.5% | 31.3% |
| Vacancy Rate | 2.3% | 8.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Bartlett has a homeownership rate of 86.6%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 2.3%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Bartlett | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1988 | 1968 | 1978 |
| Median Number of Rooms | 6.7 | 5.6 | 5.5 |
The typical housing unit in Bartlett was built around 1988. On average, 2.8 people live in a home with about 6.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bartlett, Illinois.
What is the median home price in Bartlett, Illinois?
The median home price in Bartlett, Illinois is $507,983, higher than the Illinois average of $162,405.
What is the average home price in Bartlett, Illinois?
The typical home price in %s, reported as the median sale price, is %s. 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 Bartlett, Illinois?
The median gross rent in Bartlett, Illinois is $1,823 per month, higher than the Illinois average of $1,226.
What was the median gross rent in Bartlett in 2020?
In 2020, the median gross rent in Bartlett, Illinois was $1,625 per month.
What is the price-to-rent ratio in Bartlett, Illinois?
The price-to-rent ratio in Bartlett, Illinois is about 23.2, meaning it would take roughly 23.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bartlett.
Are home prices or rent rising faster in Bartlett, Illinois?
Both home prices and rent are rising in Bartlett, up about 15.7% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bartlett, Illinois?
86.6% of households in Bartlett, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Bartlett, Illinois?
The housing vacancy rate in Bartlett, Illinois is 2.3%, lower than the Illinois average of 8.1%.