O'Fallon, Illinois Housing Market Prices
O'Fallon 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 85% below the Illinois median$22,592
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Median rent 8% above the Illinois median$1,372
Housing Market Overview
| Metric | O'Fallon | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $22,592 | $149,936 | $248,835 |
| Price Trend (Annual %) | -10.7% | 2.5% | 7.5% |
| Median Gross Rent | $1,372 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in O'Fallon is about 85% lower than in Illinois. Rent is about 8% higher 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 O'Fallon: home prices fell about 10.7% a year while rent rose about 4.4% a year. That is an unusual pattern worth watching.
Median rent in O'Fallon rose about 42.6% between 2015 and 2024, from $961 to $1,372. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in O'Fallon.
Buying the median-priced home in O'Fallon costs roughly 1.4 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 O'Fallon. The price-to-rent ratio in Illinois is about 9.8.
| Metric | O'Fallon | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $22,592 | $149,936 | $248,835 |
| Median Household Income | $93,422 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in O'Fallon fell about 70.6%, while median household income rose about 31.4% 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 | O'Fallon | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 61.9% | 58.5% |
| Rental Rate | 32.9% | 30.4% | 31.2% |
| Vacancy Rate | 6.8% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
O'Fallon has a homeownership rate of 60.3%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 6.8%, compared with 7.7% in Illinois.
Housing Stock
| Metric | O'Fallon | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1990 | 1969 | 1978 |
| Median Number of Rooms | 6.0 | 5.6 | 5.5 |
The typical housing unit in O'Fallon was built around 1990. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in O'Fallon, Illinois.
What is the median home price in O'Fallon, Illinois?
The median home price in O'Fallon, Illinois is $22,592, lower than the Illinois average of $149,936.
What is the average home price in O'Fallon, Illinois?
The typical home price in O'Fallon, Illinois, reported as the median sale price, is $22,592. 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 O'Fallon, Illinois?
The median gross rent in O'Fallon, Illinois is $1,372 per month, higher than the Illinois average of $1,274.
What was the median gross rent in O'Fallon in 2020?
In 2020, the median gross rent in O'Fallon, Illinois was $1,140 per month.
What is the price-to-rent ratio in O'Fallon, Illinois?
The price-to-rent ratio in O'Fallon, Illinois is about 1.4, meaning it would take roughly 1.4 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 O'Fallon.
Are home prices or rent rising faster in O'Fallon, Illinois?
Home prices and rent are moving in opposite directions in O'Fallon: home prices fell about 10.7% a year while rent rose about 4.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in O'Fallon, Illinois?
60.3% of households in O'Fallon, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in O'Fallon, Illinois?
The housing vacancy rate in O'Fallon, Illinois is 6.8%, lower than the Illinois average of 7.7%.
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