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 | Glen Ellyn | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $351,683 | $162,405 | $242,182 |
| Price Trend (Annual %) | 3.0% | 3.9% | 8.2% |
| Median Gross Rent | $1,318 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Glen Ellyn is about 117% higher than in Illinois. Rent is about 8% higher 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 Glen Ellyn, up about 3.0% and 4.0% a year respectively. Rent is changing faster.
Median rent in Glen Ellyn rose about 34.2% between 2015 and 2023, from $982 to $1,318. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Glen Ellyn.
Buying the median-priced home in Glen Ellyn costs roughly 22.2 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 Glen Ellyn. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Glen Ellyn | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $351,683 | $162,405 | $242,182 |
| Median Household Income | $123,155 | $82,179 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Glen Ellyn rose about 10.0%, while median household income rose about 35.1% 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 | Glen Ellyn | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.0% | 61.4% | 58.2% |
| Rental Rate | 22.5% | 30.5% | 31.3% |
| Vacancy Rate | 3.4% | 8.1% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Glen Ellyn has a homeownership rate of 74.0%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 3.4%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Glen Ellyn | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1969 | 1968 | 1978 |
| Median Number of Rooms | 6.7 | 5.6 | 5.5 |
The typical housing unit in Glen Ellyn was built around 1969. On average, 2.6 people live in a home with about 6.7 rooms, staying for about 15.0 years on average.
Glen Ellyn, IL Housing Compared With Nearby Cities
How Glen Ellyn, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Glen Ellyn, IL | 27,007 | $351,683 #2/3 | $1,318 #2/3 | 76.7% #1/3 |
| Lisle, IL | 21,854 | $540,545 | $1,579 | 56.0% |
| Addison, IL | 33,382 | $249,866 | $1,278 | 67.5% |
Frequently Asked Questions
Common questions about the housing market in Glen Ellyn, Illinois.
What is the median home price in Glen Ellyn, Illinois?
The median home price in Glen Ellyn, Illinois is $351,683, higher than the Illinois average of $162,405.
What is the average home price in Glen Ellyn, 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 Glen Ellyn, Illinois?
The median gross rent in Glen Ellyn, Illinois is $1,318 per month, higher than the Illinois average of $1,226.
What was the median gross rent in Glen Ellyn in 2020?
In 2020, the median gross rent in Glen Ellyn, Illinois was $1,134 per month.
What is the price-to-rent ratio in Glen Ellyn, Illinois?
The price-to-rent ratio in Glen Ellyn, Illinois is about 22.2, meaning it would take roughly 22.2 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 Glen Ellyn.
Are home prices or rent rising faster in Glen Ellyn, Illinois?
Both home prices and rent are rising in Glen Ellyn, up about 3.0% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Glen Ellyn, Illinois?
74.0% of households in Glen Ellyn, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Glen Ellyn, Illinois?
The housing vacancy rate in Glen Ellyn, Illinois is 3.4%, lower than the Illinois average of 8.1%.