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 | Jo Daviess County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $276,704 | $162,405 | $242,182 |
| Price Trend (Annual %) | 18.6% | 3.9% | 8.2% |
| Median Gross Rent | $794 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jo Daviess County is about 70% higher 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
Both home prices and rent are rising in Jo Daviess County, up about 18.6% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Jo Daviess County rose about 28.9% between 2015 and 2023, from $616 to $794. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Jo Daviess County.
Buying the median-priced home in Jo Daviess County costs roughly 29.0 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 Jo Daviess County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Jo Daviess County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $276,704 | $162,405 | $242,182 |
| Median Household Income | $74,965 | $82,179 | $78,145 |
| Price-to-Income Ratio | 3.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jo Daviess County rose about 68.1%, while median household income rose about 45.2% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Jo Daviess County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.3% | 61.4% | 58.2% |
| Rental Rate | 14.1% | 30.5% | 31.3% |
| Vacancy Rate | 22.6% | 8.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Jo Daviess County has a homeownership rate of 63.3%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 22.6%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Jo Daviess County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.09 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1963 | 1968 | 1978 |
| Median Number of Rooms | 6.3 | 5.6 | 5.5 |
The typical housing unit in Jo Daviess County was built around 1963. On average, 2.1 people live in a home with about 6.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jo Daviess County, Illinois.
What is the median home price in Jo Daviess County, Illinois?
The median home price in Jo Daviess County, Illinois is $276,704, higher than the Illinois average of $162,405.
What is the average home price in Jo Daviess 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 Jo Daviess County, Illinois?
The median gross rent in Jo Daviess County, Illinois is $794 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Jo Daviess County in 2020?
In 2020, the median gross rent in Jo Daviess County, Illinois was $698 per month.
What is the price-to-rent ratio in Jo Daviess County, Illinois?
The price-to-rent ratio in Jo Daviess County, Illinois is about 29.0, meaning it would take roughly 29.0 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 Jo Daviess County.
Are home prices or rent rising faster in Jo Daviess County, Illinois?
Both home prices and rent are rising in Jo Daviess County, up about 18.6% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jo Daviess County, Illinois?
63.3% of households in Jo Daviess County, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Jo Daviess County, Illinois?
The housing vacancy rate in Jo Daviess County, Illinois is 22.6%, higher than the Illinois average of 8.1%.