Putnam County, Illinois Housing Market Prices
Putnam 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 14% above the Illinois median More expensive than 82% of counties in Illinois$170,487
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Median rent 33% below the Illinois median$850
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Putnam County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,487 | $149,936 | $248,835 |
| Price Trend (Annual %) | 12.8% | 2.5% | 7.5% |
| Median Gross Rent | $850 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Putnam County is about 14% higher than in Illinois. Rent is about 33% 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 Putnam County, up about 12.8% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Putnam County rose about 40.4% between 2015 and 2024, from $605 to $850. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Putnam County.
Buying the median-priced home in Putnam County costs roughly 16.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Putnam County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Putnam County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,487 | $149,936 | $248,835 |
| Median Household Income | $75,455 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Putnam County fell about 13.6%, while median household income rose about 31.9% 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 | Putnam County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.0% | 61.9% | 58.5% |
| Rental Rate | 14.8% | 30.4% | 31.2% |
| Vacancy Rate | 20.2% | 7.7% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Putnam County has a homeownership rate of 65.0%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 20.2%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Putnam County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1960 | 1969 | 1978 |
| Median Number of Rooms | 6.3 | 5.6 | 5.5 |
The typical housing unit in Putnam County was built around 1960. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 18.0 years on average.
Putnam County, IL Housing Compared With Nearby Counties
How Putnam County, IL compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Putnam County, IL | 5,598 | $170,487 #1/3 | $850 #2/3 | 81.5% #1/3 |
| Bureau County, IL | 32,861 | $87,129 | $831 | 76.1% |
| LaSalle County, IL | 108,714 | $97,968 | $928 | 74.4% |
Frequently Asked Questions
Common questions about the housing market in Putnam County, Illinois.
What is the median home price in Putnam County, Illinois?
The median home price in Putnam County, Illinois is $170,487, higher than the Illinois average of $149,936.
What is the average home price in Putnam County, Illinois?
The typical home price in Putnam County, Illinois, reported as the median sale price, is $170,487. 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 Putnam County, Illinois?
The median gross rent in Putnam County, Illinois is $850 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Putnam County in 2020?
In 2020, the median gross rent in Putnam County, Illinois was $682 per month.
What is the price-to-rent ratio in Putnam County, Illinois?
The price-to-rent ratio in Putnam County, Illinois is about 16.7, meaning it would take roughly 16.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Putnam County.
Are home prices or rent rising faster in Putnam County, Illinois?
Both home prices and rent are rising in Putnam County, up about 12.8% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Putnam County, Illinois?
65.0% of households in Putnam County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Putnam County, Illinois?
The housing vacancy rate in Putnam County, Illinois is 20.2%, higher than the Illinois average of 7.7%.
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