Knox County, Illinois Housing Market Prices
Knox 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 81% below the Illinois median Cheaper than 92% of counties in Illinois$28,739
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Median rent 38% below the Illinois median$787
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Knox County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $28,739 | $149,936 | $248,835 |
| Price Trend (Annual %) | -5.8% | 2.5% | 7.5% |
| Median Gross Rent | $787 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Knox County is about 81% lower than in Illinois. Rent is about 38% 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 Knox County: home prices fell about 5.8% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
Median rent in Knox County rose about 36.7% between 2015 and 2024, from $576 to $787. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Knox County.
Buying the median-priced home in Knox County costs roughly 3.0 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 Knox County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Knox County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $28,739 | $149,936 | $248,835 |
| Median Household Income | $57,634 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.5 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Knox County fell about 50.1%, while median household income rose about 39.6% 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 | Knox County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.5% | 61.9% | 58.5% |
| Rental Rate | 25.8% | 30.4% | 31.2% |
| Vacancy Rate | 11.7% | 7.7% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Knox County has a homeownership rate of 62.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 11.7%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Knox County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1959 | 1969 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Knox County was built around 1959. On average, 2.1 people live in a home with about 5.8 rooms, staying for about 18.0 years on average.
Knox County, IL Housing Compared With Nearby Counties
Knox County, IL is typical in size for this group, 49,044 residents against a local median of 48,639, so the measures below are close to a like for like comparison. Where Knox County, IL breaks from the counties next to it is median home price, sitting 53% below the local median of $61,118 at $28,739.
The counties themselves spread $35,309 on median home price, so Knox County, IL sits at one end of an already wide local range rather than apart from it. Knox County, IL has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Knox County, IL | 49,044 | $28,739 #4/4 | $787 #3/4 | 70.8% #3/4 |
| Henry County, IL | 48,639 | $61,118 | $842 | 79.9% |
| Fulton County, IL | 33,018 | $74,502 | $784 | 76.6% |
| Peoria County, IL | 179,437 | $39,193 | $992 | 67.0% |
Frequently Asked Questions
Common questions about the housing market in Knox County, Illinois.
What is the median home price in Knox County, Illinois?
The median home price in Knox County, Illinois is $28,739, lower than the Illinois average of $149,936.
What is the average home price in Knox County, Illinois?
The typical home price in Knox County, Illinois, reported as the median sale price, is $28,739. 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 Knox County, Illinois?
The median gross rent in Knox County, Illinois is $787 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Knox County in 2020?
In 2020, the median gross rent in Knox County, Illinois was $623 per month.
What is the price-to-rent ratio in Knox County, Illinois?
The price-to-rent ratio in Knox County, Illinois is about 3.0, meaning it would take roughly 3.0 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 Knox County.
Are home prices or rent rising faster in Knox County, Illinois?
Home prices and rent are moving in opposite directions in Knox County: home prices fell about 5.8% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Knox County, Illinois?
62.5% of households in Knox County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Knox County, Illinois?
The housing vacancy rate in Knox County, Illinois is 11.7%, higher than the Illinois average of 7.7%.
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