Lombard, Illinois Housing Market Prices
Updated
Lombard 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 141% above the Illinois median$361,160
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Median rent 51% above the Illinois median$1,928
Housing Market Overview
| Metric | Lombard | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $361,160 | $149,936 | $248,835 |
| Price Trend (Annual %) | 12.1% | 2.5% | 7.5% |
| Median Gross Rent | $1,928 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 6.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lombard is about 141% higher than in Illinois. Rent is about 51% higher 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 Lombard, up about 12.1% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Lombard rose about 63.9% between 2015 and 2024, from $1,177 to $1,928. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Lombard.
Buying the median-priced home in Lombard costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lombard. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Lombard | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $361,160 | $149,936 | $248,835 |
| Median Household Income | $99,406 | $84,042 | $80,455 |
| Price-to-Income Ratio | 3.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lombard rose about 108.2%, while median household income rose about 33.7% between 2009 and 2025 — 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 | Lombard | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.7% | 61.9% | 58.5% |
| Rental Rate | 26.4% | 30.4% | 31.2% |
| Vacancy Rate | 5.9% | 7.7% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Lombard has a homeownership rate of 67.7%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 5.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Lombard | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1972 | 1969 | 1978 |
| Median Number of Rooms | 5.6 | 5.6 | 5.5 |
The typical housing unit in Lombard was built around 1972. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Lombard, IL Housing Compared With Nearby Cities
How Lombard, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lombard, IL | 44,068 | $361,160 #1/3 | $1,928 #1/3 | 72.0% #2/3 |
| Villa Park, IL | 21,774 | $340,967 | $1,428 | 74.5% |
| Addison, IL | 33,056 | $162,667 | $1,295 | 67.4% |
Frequently Asked Questions
Common questions about the housing market in Lombard, Illinois.
What is the median home price in Lombard, Illinois?
The median home price in Lombard, Illinois is $361,160, higher than the Illinois average of $149,936.
What is the average home price in Lombard, Illinois?
The typical home price in Lombard, Illinois, reported as the median sale price, is $361,160. 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 Lombard, Illinois?
The median gross rent in Lombard, Illinois is $1,928 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Lombard in 2020?
In 2020, the median gross rent in Lombard, Illinois was $1,424 per month.
What is the price-to-rent ratio in Lombard, Illinois?
The price-to-rent ratio in Lombard, Illinois is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lombard.
Are home prices or rent rising faster in Lombard, Illinois?
Both home prices and rent are rising in Lombard, up about 12.1% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lombard, Illinois?
67.7% of households in Lombard, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Lombard, Illinois?
The housing vacancy rate in Lombard, Illinois is 5.9%, lower than the Illinois average of 7.7%.
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