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 | Massac County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,002 | $162,405 | $242,182 |
| Price Trend (Annual %) | 17.7% | 3.9% | 8.2% |
| Median Gross Rent | $792 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Massac County is about 5% 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
Both home prices and rent are rising in Massac County, up about 17.7% and 1.9% a year respectively. Home prices are changing faster.
Median rent in Massac County rose about 14.9% between 2015 and 2023, from $690 to $792. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Massac County.
Buying the median-priced home in Massac County costs roughly 16.3 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 Massac County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Massac County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,002 | $162,405 | $242,182 |
| Median Household Income | $62,207 | $82,179 | $78,145 |
| Price-to-Income Ratio | 2.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Massac County rose about 130.2%, while median household income rose about 64.2% 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 | Massac County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.5% | 61.4% | 58.2% |
| Rental Rate | 16.9% | 30.5% | 31.3% |
| Vacancy Rate | 19.7% | 8.1% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Massac County has a homeownership rate of 63.5%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 19.7%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Massac County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1972 | 1968 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Massac County was built around 1972. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Massac County, Illinois.
What is the median home price in Massac County, Illinois?
The median home price in Massac County, Illinois is $155,002, lower than the Illinois average of $162,405.
What is the average home price in Massac 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 Massac County, Illinois?
The median gross rent in Massac County, Illinois is $792 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Massac County in 2020?
In 2020, the median gross rent in Massac County, Illinois was $719 per month.
What is the price-to-rent ratio in Massac County, Illinois?
The price-to-rent ratio in Massac County, Illinois is about 16.3, meaning it would take roughly 16.3 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 Massac County.
Are home prices or rent rising faster in Massac County, Illinois?
Both home prices and rent are rising in Massac County, up about 17.7% and 1.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Massac County, Illinois?
63.5% of households in Massac County, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Massac County, Illinois?
The housing vacancy rate in Massac County, Illinois is 19.7%, higher than the Illinois average of 8.1%.