Decatur, Illinois Housing Market Prices
Decatur 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 62% below the Illinois median$57,355
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Median rent 34% below the Illinois median$836
Housing Market Overview
| Metric | Decatur | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,355 | $149,936 | $248,835 |
| Price Trend (Annual %) | -0.5% | 2.5% | 7.5% |
| Median Gross Rent | $836 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Decatur is about 62% lower than in Illinois. Rent is about 34% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Decatur: home prices fell about 0.5% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
Median rent in Decatur rose about 29.1% between 2015 and 2024, from $647 to $836. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Decatur.
Buying the median-priced home in Decatur costs roughly 5.7 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 Decatur. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Decatur | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,355 | $149,936 | $248,835 |
| Median Household Income | $49,776 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Decatur fell about 28.3%, while median household income rose about 34.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Decatur | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.0% | 61.9% | 58.5% |
| Rental Rate | 33.2% | 30.4% | 31.2% |
| Vacancy Rate | 15.8% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Decatur has a homeownership rate of 51.0%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 15.8%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Decatur | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1961 | 1969 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Decatur was built around 1961. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Decatur, Illinois.
What is the median home price in Decatur, Illinois?
The median home price in Decatur, Illinois is $57,355, lower than the Illinois average of $149,936.
What is the average home price in Decatur, Illinois?
The typical home price in Decatur, Illinois, reported as the median sale price, is $57,355. 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 Decatur, Illinois?
The median gross rent in Decatur, Illinois is $836 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Decatur in 2020?
In 2020, the median gross rent in Decatur, Illinois was $682 per month.
What is the price-to-rent ratio in Decatur, Illinois?
The price-to-rent ratio in Decatur, Illinois is about 5.7, meaning it would take roughly 5.7 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 Decatur.
Are home prices or rent rising faster in Decatur, Illinois?
Home prices and rent are moving in opposite directions in Decatur: home prices fell about 0.5% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Decatur, Illinois?
51.0% of households in Decatur, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Decatur, Illinois?
The housing vacancy rate in Decatur, Illinois is 15.8%, higher than the Illinois average of 7.7%.
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