Pike County, Illinois Housing Market Prices
Pike County 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 60% below the Illinois median$60,151
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Median rent 47% below the Illinois median Cheaper than 91% of counties in Illinois$675
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Pike County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,151 | $149,936 | $248,835 |
| Price Trend (Annual %) | 4.0% | 2.5% | 7.5% |
| Median Gross Rent | $675 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pike County is about 60% lower than in Illinois. Rent is about 47% lower 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 Pike County, up about 4.0% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Pike County rose about 30.7% between 2015 and 2024, from $517 to $675. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Pike County.
Buying the median-priced home in Pike County costs roughly 7.4 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 Pike County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Pike County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,151 | $149,936 | $248,835 |
| Median Household Income | $59,731 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pike County rose about 55.0%, while median household income rose about 38.9% 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 | Pike County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 61.9% | 58.5% |
| Rental Rate | 18.3% | 30.4% | 31.2% |
| Vacancy Rate | 18.0% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Pike County has a homeownership rate of 63.7%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 18.0%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Pike County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1959 | 1969 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Pike County was built around 1959. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Pike County, IL Housing Compared With Nearby Counties
How Pike County, IL compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pike County, IL | 14,468 | $60,151 #1/2 | $675 #2/2 | 77.7% #2/2 |
| Pike County, MO | 17,710 | $47,884 | $778 | 78.5% |
Frequently Asked Questions
Common questions about the housing market in Pike County, Illinois.
What is the median home price in Pike County, Illinois?
The median home price in Pike County, Illinois is $60,151, lower than the Illinois average of $149,936.
What is the average home price in Pike County, Illinois?
The typical home price in Pike County, Illinois, reported as the median sale price, is $60,151. 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 Pike County, Illinois?
The median gross rent in Pike County, Illinois is $675 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Pike County in 2020?
In 2020, the median gross rent in Pike County, Illinois was $554 per month.
What is the price-to-rent ratio in Pike County, Illinois?
The price-to-rent ratio in Pike County, Illinois is about 7.4, meaning it would take roughly 7.4 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 Pike County.
Are home prices or rent rising faster in Pike County, Illinois?
Both home prices and rent are rising in Pike County, up about 4.0% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pike County, Illinois?
63.7% of households in Pike County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Pike County, Illinois?
The housing vacancy rate in Pike County, Illinois is 18.0%, higher than the Illinois average of 7.7%.
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