Machesney Park, Illinois Housing Market Prices
Machesney Park 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 48% below the Illinois median$78,021
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Median rent 13% below the Illinois median$1,106
Housing Market Overview
| Metric | Machesney Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,021 | $149,936 | $248,835 |
| Price Trend (Annual %) | -3.7% | 2.5% | 7.5% |
| Median Gross Rent | $1,106 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Machesney Park is about 48% lower than in Illinois. Rent is about 13% 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 Machesney Park: home prices fell about 3.7% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
Median rent in Machesney Park rose about 23.5% between 2015 and 2024, from $895 to $1,106. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Machesney Park.
Buying the median-priced home in Machesney Park costs roughly 5.9 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 Machesney Park. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Machesney Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,021 | $149,936 | $248,835 |
| Median Household Income | $74,025 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.1 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Machesney Park fell about 38.6%, while median household income rose about 36.7% 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 | Machesney Park | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.5% | 61.9% | 58.5% |
| Rental Rate | 19.1% | 30.4% | 31.2% |
| Vacancy Rate | 6.3% | 7.7% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Machesney Park has a homeownership rate of 74.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 6.3%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Machesney Park | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1983 | 1969 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Machesney Park was built around 1983. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Machesney Park, IL Housing Compared With Nearby Cities
How Machesney Park, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Machesney Park, IL | 20,295 | $78,021 #2/2 | $1,106 #1/2 | 79.6% #1/2 |
| Rockford, IL | 139,970 | $100,992 | $980 | 56.8% |
Frequently Asked Questions
Common questions about the housing market in Machesney Park, Illinois.
What is the median home price in Machesney Park, Illinois?
The median home price in Machesney Park, Illinois is $78,021, lower than the Illinois average of $149,936.
What is the average home price in Machesney Park, Illinois?
The typical home price in Machesney Park, Illinois, reported as the median sale price, is $78,021. 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 Machesney Park, Illinois?
The median gross rent in Machesney Park, Illinois is $1,106 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Machesney Park in 2020?
In 2020, the median gross rent in Machesney Park, Illinois was $955 per month.
What is the price-to-rent ratio in Machesney Park, Illinois?
The price-to-rent ratio in Machesney Park, Illinois is about 5.9, meaning it would take roughly 5.9 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 Machesney Park.
Are home prices or rent rising faster in Machesney Park, Illinois?
Home prices and rent are moving in opposite directions in Machesney Park: home prices fell about 3.7% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Machesney Park, Illinois?
74.5% of households in Machesney Park, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Machesney Park, Illinois?
The housing vacancy rate in Machesney Park, Illinois is 6.3%, lower than the Illinois average of 7.7%.
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