Downers Grove, Illinois Housing Market Prices
Updated
Downers Grove 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.
-
Median home price 259% above the Illinois median$537,998
-
Median rent 23% above the Illinois median$1,569
Housing Market Overview
| Metric | Downers Grove | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $537,998 | $149,936 | $248,835 |
| Price Trend (Annual %) | 10.9% | 2.5% | 7.5% |
| Median Gross Rent | $1,569 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Downers Grove is about 259% higher than in Illinois. Rent is about 23% 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 Downers Grove, up about 10.9% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Downers Grove rose about 50.0% between 2015 and 2024, from $1,046 to $1,569. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Downers Grove.
Buying the median-priced home in Downers Grove costs roughly 28.6 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 Downers Grove. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Downers Grove | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $537,998 | $149,936 | $248,835 |
| Median Household Income | $113,724 | $84,042 | $80,455 |
| Price-to-Income Ratio | 4.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Downers Grove rose about 141.1%, while median household income rose about 43.5% 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 | Downers Grove | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.3% | 61.9% | 58.5% |
| Rental Rate | 24.3% | 30.4% | 31.2% |
| Vacancy Rate | 4.4% | 7.7% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Downers Grove has a homeownership rate of 71.3%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 4.4%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Downers Grove | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1971 | 1969 | 1978 |
| Median Number of Rooms | 6.4 | 5.6 | 5.5 |
The typical housing unit in Downers Grove was built around 1971. On average, 2.4 people live in a home with about 6.4 rooms, staying for about 16.0 years on average.
Downers Grove, IL Housing Compared With Nearby Cities
How Downers Grove, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Downers Grove, IL | 51,779 | $537,998 #2/3 | $1,569 #2/3 | 74.6% #1/3 |
| Westmont, IL | 23,509 | $338,417 | $1,532 | 68.0% |
| Lisle, IL | 22,476 | $585,767 | $1,662 | 56.3% |
Frequently Asked Questions
Common questions about the housing market in Downers Grove, Illinois.
What is the median home price in Downers Grove, Illinois?
The median home price in Downers Grove, Illinois is $537,998, higher than the Illinois average of $149,936.
What is the average home price in Downers Grove, Illinois?
The typical home price in Downers Grove, Illinois, reported as the median sale price, is $537,998. 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 Downers Grove, Illinois?
The median gross rent in Downers Grove, Illinois is $1,569 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Downers Grove in 2020?
In 2020, the median gross rent in Downers Grove, Illinois was $1,234 per month.
What is the price-to-rent ratio in Downers Grove, Illinois?
The price-to-rent ratio in Downers Grove, Illinois is about 28.6, meaning it would take roughly 28.6 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 Downers Grove.
Are home prices or rent rising faster in Downers Grove, Illinois?
Both home prices and rent are rising in Downers Grove, up about 10.9% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Downers Grove, Illinois?
71.3% of households in Downers Grove, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Downers Grove, Illinois?
The housing vacancy rate in Downers Grove, Illinois is 4.4%, lower than the Illinois average of 7.7%.
Size up the neighborhood around one home
Home values, rent, homeownership, schools, crime, health and nearby amenities for any US address, in one neighborhood report. Ready in about 3 minutes, in your browser or as a PDF.
Explore My Address →