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 | Ogle County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,762 | $162,405 | $242,182 |
| Price Trend (Annual %) | 6.0% | 3.9% | 8.2% |
| Median Gross Rent | $901 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ogle County is about 2% lower than in Illinois. Rent is about 26% 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 Ogle County, up about 6.0% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Ogle County rose about 33.9% between 2015 and 2023, from $673 to $901. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Ogle County.
Buying the median-priced home in Ogle County costs roughly 14.7 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 Ogle County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Ogle County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,762 | $162,405 | $242,182 |
| Median Household Income | $78,877 | $82,179 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ogle County rose about 53.9%, while median household income rose about 44.5% 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 | Ogle County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.2% | 61.4% | 58.2% |
| Rental Rate | 23.3% | 30.5% | 31.3% |
| Vacancy Rate | 8.5% | 8.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Ogle County has a homeownership rate of 68.2%, higher than the Illinois average of 61.4%. Its housing vacancy rate is 8.5%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Ogle County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1968 | 1968 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Ogle County was built around 1968. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ogle County, Illinois.
What is the median home price in Ogle County, Illinois?
The median home price in Ogle County, Illinois is $158,762, lower than the Illinois average of $162,405.
What is the average home price in Ogle 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 Ogle County, Illinois?
The median gross rent in Ogle County, Illinois is $901 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Ogle County in 2020?
In 2020, the median gross rent in Ogle County, Illinois was $762 per month.
What is the price-to-rent ratio in Ogle County, Illinois?
The price-to-rent ratio in Ogle County, Illinois is about 14.7, meaning it would take roughly 14.7 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 Ogle County.
Are home prices or rent rising faster in Ogle County, Illinois?
Both home prices and rent are rising in Ogle County, up about 6.0% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ogle County, Illinois?
68.2% of households in Ogle County, Illinois own their home, higher than the Illinois average of 61.4%.
What is the vacancy rate in Ogle County, Illinois?
The housing vacancy rate in Ogle County, Illinois is 8.5%, higher than the Illinois average of 8.1%.