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 | Pope County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,287 | $162,405 | $242,182 |
| Price Trend (Annual %) | 38.4% | 3.9% | 8.2% |
| Median Gross Rent | $437 | $1,226 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pope County is about 57% lower than in Illinois. Rent is about 64% 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 Pope County, up about 38.4% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Pope County fell about 4.0% between 2015 and 2023, from $455 to $437. Over the same span, rent in Illinois rose about 35.1%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Pope County.
Buying the median-priced home in Pope County costs roughly 13.2 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 Pope County. The price-to-rent ratio in Illinois is about 11.0.
| Metric | Pope County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,287 | $162,405 | $242,182 |
| Median Household Income | $64,110 | $82,179 | $78,145 |
| Price-to-Income Ratio | 1.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pope County fell about 44.8%, while median household income rose about 63.2% between 2009 and 2023 — 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 | Pope County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.6% | 61.4% | 58.2% |
| Rental Rate | 8.4% | 30.5% | 31.3% |
| Vacancy Rate | 40.0% | 8.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Pope County has a homeownership rate of 51.6%, lower than the Illinois average of 61.4%. Its housing vacancy rate is 40.0%, compared with 8.1% in Illinois.
Housing Stock
| Metric | Pope County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1981 | 1968 | 1978 |
| Median Number of Rooms | 5.0 | 5.6 | 5.5 |
The typical housing unit in Pope County was built around 1981. On average, 2.6 people live in a home with about 5.0 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pope County, Illinois.
What is the median home price in Pope County, Illinois?
The median home price in Pope County, Illinois is $69,287, lower than the Illinois average of $162,405.
What is the average home price in Pope 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 Pope County, Illinois?
The median gross rent in Pope County, Illinois is $437 per month, lower than the Illinois average of $1,226.
What was the median gross rent in Pope County in 2020?
In 2020, the median gross rent in Pope County, Illinois was $325 per month.
What is the price-to-rent ratio in Pope County, Illinois?
The price-to-rent ratio in Pope County, Illinois is about 13.2, meaning it would take roughly 13.2 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 Pope County.
Are home prices or rent rising faster in Pope County, Illinois?
Both home prices and rent are rising in Pope County, up about 38.4% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pope County, Illinois?
51.6% of households in Pope County, Illinois own their home, lower than the Illinois average of 61.4%.
What is the vacancy rate in Pope County, Illinois?
The housing vacancy rate in Pope County, Illinois is 40.0%, higher than the Illinois average of 8.1%.