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 | Greene County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,666 | $162,405 | $242,182 |
| Price Trend (Annual %) | -0.6% | 3.9% | 8.2% |
| Median Gross Rent | $800 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greene County is about 63% lower than in Illinois. Rent is about 35% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Greene County: home prices fell about 0.6% a year while rent rose about 4.6% a year. That is an unusual pattern worth watching.
Median rent in Greene County rose about 31.9% between 2015 and 2023, from $607 to $800. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Greene County.
Buying the median-priced home in Greene County costs roughly 6.2 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 Greene County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Greene County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,666 | $162,405 | $242,182 |
| Median Household Income | $61,899 | $82,179 | $78,145 |
| Price-to-Income Ratio | 1.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greene County fell about 18.2%, while median household income rose about 55.4% 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 | Greene County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.8% | 61.4% | 58.2% |
| Rental Rate | 18.0% | 30.5% | 31.3% |
| Vacancy Rate | 22.2% | 8.1% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Greene County has a homeownership rate of 59.8%, lower than the Illinois average of 61.4%. Its housing vacancy rate is 22.2%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Greene County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1958 | 1968 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Greene County was built around 1958. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greene County, Illinois.
What is the median home price in Greene County, Illinois?
The median home price in Greene County, Illinois is $59,666, lower than the Illinois average of $162,405.
What is the average home price in Greene 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 Greene County, Illinois?
The median gross rent in Greene County, Illinois is $800 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Greene County in 2020?
In 2020, the median gross rent in Greene County, Illinois was $607 per month.
What is the price-to-rent ratio in Greene County, Illinois?
The price-to-rent ratio in Greene County, Illinois is about 6.2, meaning it would take roughly 6.2 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 Greene County.
Are home prices or rent rising faster in Greene County, Illinois?
Home prices and rent are moving in opposite directions in Greene County: home prices fell about 0.6% a year while rent rose about 4.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Greene County, Illinois?
59.8% of households in Greene County, Illinois own their home, lower than the Illinois average of 61.4%.
What is the vacancy rate in Greene County, Illinois?
The housing vacancy rate in Greene County, Illinois is 22.2%, higher than the Illinois average of 8.1%.