Granite City, Illinois Housing Market Prices
Granite City 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 50% below the Illinois median$75,508
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Median rent 32% below the Illinois median$872
Housing Market Overview
| Metric | Granite City | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,508 | $149,936 | $248,835 |
| Price Trend (Annual %) | 4.7% | 2.5% | 7.5% |
| Median Gross Rent | $872 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Granite City is about 50% lower than in Illinois. Rent is about 32% lower 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 Granite City, up about 4.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Granite City rose about 31.5% between 2015 and 2024, from $663 to $872. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Granite City.
Buying the median-priced home in Granite City costs roughly 7.2 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 Granite City. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Granite City | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,508 | $149,936 | $248,835 |
| Median Household Income | $58,261 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Granite City rose about 8.6%, while median household income rose about 43.8% 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 | Granite City | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.5% | 61.9% | 58.5% |
| Rental Rate | 24.3% | 30.4% | 31.2% |
| Vacancy Rate | 9.2% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Granite City has a homeownership rate of 66.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 9.2%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Granite City | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1960 | 1969 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Granite City was built around 1960. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Granite City, Illinois.
What is the median home price in Granite City, Illinois?
The median home price in Granite City, Illinois is $75,508, lower than the Illinois average of $149,936.
What is the average home price in Granite City, Illinois?
The typical home price in Granite City, Illinois, reported as the median sale price, is $75,508. 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 Granite City, Illinois?
The median gross rent in Granite City, Illinois is $872 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Granite City in 2020?
In 2020, the median gross rent in Granite City, Illinois was $726 per month.
What is the price-to-rent ratio in Granite City, Illinois?
The price-to-rent ratio in Granite City, Illinois is about 7.2, meaning it would take roughly 7.2 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 Granite City.
Are home prices or rent rising faster in Granite City, Illinois?
Both home prices and rent are rising in Granite City, up about 4.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Granite City, Illinois?
66.5% of households in Granite City, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Granite City, Illinois?
The housing vacancy rate in Granite City, Illinois is 9.2%, higher than the Illinois average of 7.7%.
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