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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Edgar County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,673 | $162,405 | $242,182 |
| Price Trend (Annual %) | 19.1% | 3.9% | 8.2% |
| Median Gross Rent | $757 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Edgar County is about 4% lower than in Illinois. Rent is about 38% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Edgar County, up about 19.1% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Edgar County rose about 25.4% between 2015 and 2023, from $603 to $757. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Edgar County.
Buying the median-priced home in Edgar County costs roughly 17.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Edgar County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Edgar County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,673 | $162,405 | $242,182 |
| Median Household Income | $57,639 | $82,179 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Edgar County rose about 12.6%, while median household income rose about 48.2% between 2009 and 2023 — 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 | Edgar County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.2% | 61.4% | 58.2% |
| Rental Rate | 25.3% | 30.5% | 31.3% |
| Vacancy Rate | 7.6% | 8.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Edgar County has a homeownership rate of 67.2%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 7.6%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Edgar County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.13 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1961 | 1968 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Edgar County was built around 1961. On average, 2.1 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Edgar County, Illinois.
What is the median home price in Edgar County, Illinois?
The median home price in Edgar County, Illinois is $155,673, lower than the Illinois average of $162,405.
What is the average home price in Edgar County, 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 Edgar County, Illinois?
The median gross rent in Edgar County, Illinois is $757 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Edgar County in 2020?
In 2020, the median gross rent in Edgar County, Illinois was $653 per month.
What is the price-to-rent ratio in Edgar County, Illinois?
The price-to-rent ratio in Edgar County, Illinois is about 17.1, meaning it would take roughly 17.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Edgar County.
Are home prices or rent rising faster in Edgar County, Illinois?
Both home prices and rent are rising in Edgar County, up about 19.1% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Edgar County, Illinois?
67.2% of households in Edgar County, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Edgar County, Illinois?
The housing vacancy rate in Edgar County, Illinois is 7.6%, lower than the Illinois average of 8.1%.