Oswego, Illinois Housing Market Prices
Updated
Oswego 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 175% above the Illinois median$411,753
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Median rent 34% above the Illinois median$1,709
Housing Market Overview
| Metric | Oswego | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $411,753 | $149,936 | $248,835 |
| Price Trend (Annual %) | 9.7% | 2.5% | 7.5% |
| Median Gross Rent | $1,709 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oswego is about 175% higher than in Illinois. Rent is about 34% 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 Oswego, up about 9.7% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Oswego rose about 20.6% between 2015 and 2024, from $1,418 to $1,709. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Oswego.
Buying the median-priced home in Oswego costs roughly 20.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Oswego. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Oswego | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $411,753 | $149,936 | $248,835 |
| Median Household Income | $113,068 | $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 Oswego rose about 254.7%, while median household income rose about 23.0% 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 | Oswego | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 82.1% | 61.9% | 58.5% |
| Rental Rate | 15.0% | 30.4% | 31.2% |
| Vacancy Rate | 2.9% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Oswego has a homeownership rate of 82.1%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 2.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Oswego | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.91 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1999 | 1969 | 1978 |
| Median Number of Rooms | 6.6 | 5.6 | 5.5 |
The typical housing unit in Oswego was built around 1999. On average, 2.9 people live in a home with about 6.6 rooms, staying for about 13.0 years on average.
Oswego, IL Housing Compared With Nearby Cities
How Oswego, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Oswego, IL | 24,175 | $411,753 #1/2 | $1,709 #1/2 | 84.5% #1/2 |
| Aurora, IL | 168,587 | $252,075 | $1,577 | 65.7% |
Frequently Asked Questions
Common questions about the housing market in Oswego, Illinois.
What is the median home price in Oswego, Illinois?
The median home price in Oswego, Illinois is $411,753, higher than the Illinois average of $149,936.
What is the average home price in Oswego, Illinois?
The typical home price in Oswego, Illinois, reported as the median sale price, is $411,753. 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 Oswego, Illinois?
The median gross rent in Oswego, Illinois is $1,709 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Oswego in 2020?
In 2020, the median gross rent in Oswego, Illinois was $1,185 per month.
What is the price-to-rent ratio in Oswego, Illinois?
The price-to-rent ratio in Oswego, Illinois is about 20.1, meaning it would take roughly 20.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Oswego.
Are home prices or rent rising faster in Oswego, Illinois?
Both home prices and rent are rising in Oswego, up about 9.7% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oswego, Illinois?
82.1% of households in Oswego, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Oswego, Illinois?
The housing vacancy rate in Oswego, Illinois is 2.9%, lower than the Illinois average of 7.7%.
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