Fayette County, Illinois Housing Market Prices
Fayette County 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% below the Illinois median Cheaper than 80% of counties in Illinois$47,257
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Median rent 37% below the Illinois median$797
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Fayette County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,257 | $149,936 | $248,835 |
| Price Trend (Annual %) | -0.1% | 2.5% | 7.5% |
| Median Gross Rent | $797 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fayette County is about 68% lower than in Illinois. Rent is about 37% 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 Fayette County: home prices fell about 0.1% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
Median rent in Fayette County rose about 38.0% between 2015 and 2024, from $578 to $797. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Fayette County.
Buying the median-priced home in Fayette County costs roughly 4.9 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 Fayette County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Fayette County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,257 | $149,936 | $248,835 |
| Median Household Income | $60,976 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.8 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fayette County fell about 35.8%, while median household income rose about 43.0% 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 | Fayette County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.5% | 61.9% | 58.5% |
| Rental Rate | 17.2% | 30.4% | 31.2% |
| Vacancy Rate | 11.3% | 7.7% | 10.2% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Fayette County has a homeownership rate of 71.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 11.3%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Fayette County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1972 | 1969 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Fayette County was built around 1972. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 19.0 years on average.
Fayette County, IL Housing Compared With Nearby Counties
Fayette County, IL is the 4th largest of the 5 counties compared here, 21,314 residents against a local median of 31,231. The measure that sets Fayette County, IL apart most is median home price: $47,257, 57% below the local median of $110,264.
The counties themselves spread $192,373 on median home price, so Fayette County, IL sits at one end of an already wide local range rather than apart from it. Fayette County, IL has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Fayette County, IL | 21,314 | $47,257 #4/5 | $797 #2/5 | 80.6% #1/5 |
| Marion County, IL | 37,000 | $27,338 | $793 | 74.7% |
| Effingham County, IL | 34,520 | $219,711 | $732 | 78.2% |
| Shelby County, IL | 20,718 | $54,174 | $814 | 78.4% |
| Montgomery County, IL | 27,942 | $166,353 | $723 | 77.4% |
Frequently Asked Questions
Common questions about the housing market in Fayette County, Illinois.
What is the median home price in Fayette County, Illinois?
The median home price in Fayette County, Illinois is $47,257, lower than the Illinois average of $149,936.
What is the average home price in Fayette County, Illinois?
The typical home price in Fayette County, Illinois, reported as the median sale price, is $47,257. 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 Fayette County, Illinois?
The median gross rent in Fayette County, Illinois is $797 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Fayette County in 2020?
In 2020, the median gross rent in Fayette County, Illinois was $610 per month.
What is the price-to-rent ratio in Fayette County, Illinois?
The price-to-rent ratio in Fayette County, Illinois is about 4.9, meaning it would take roughly 4.9 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 Fayette County.
Are home prices or rent rising faster in Fayette County, Illinois?
Home prices and rent are moving in opposite directions in Fayette County: home prices fell about 0.1% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Fayette County, Illinois?
71.5% of households in Fayette County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Fayette County, Illinois?
The housing vacancy rate in Fayette County, Illinois is 11.3%, higher than the Illinois average of 7.7%.
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