Quincy, Illinois Housing Market Prices
Quincy 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 57% above the Illinois median$235,042
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Median rent 34% below the Illinois median$837
Housing Market Overview
| Metric | Quincy | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $235,042 | $149,936 | $248,835 |
| Price Trend (Annual %) | 26.5% | 2.5% | 7.5% |
| Median Gross Rent | $837 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Quincy is about 57% higher than in Illinois. Rent is about 34% 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 Quincy, up about 26.5% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Quincy rose about 44.5% between 2015 and 2024, from $579 to $837. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Quincy.
Buying the median-priced home in Quincy costs roughly 23.4 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 Quincy. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Quincy | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $235,042 | $149,936 | $248,835 |
| Median Household Income | $56,511 | $84,042 | $80,455 |
| Price-to-Income Ratio | 4.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Quincy rose about 319.1%, while median household income rose about 37.6% 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 | Quincy | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 61.9% | 58.5% |
| Rental Rate | 34.6% | 30.4% | 31.2% |
| Vacancy Rate | 7.6% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Quincy has a homeownership rate of 57.8%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 7.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Quincy | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1958 | 1969 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Quincy was built around 1958. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Quincy, Illinois.
What is the median home price in Quincy, Illinois?
The median home price in Quincy, Illinois is $235,042, higher than the Illinois average of $149,936.
What is the average home price in Quincy, Illinois?
The typical home price in Quincy, Illinois, reported as the median sale price, is $235,042. 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 Quincy, Illinois?
The median gross rent in Quincy, Illinois is $837 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Quincy in 2020?
In 2020, the median gross rent in Quincy, Illinois was $678 per month.
What is the price-to-rent ratio in Quincy, Illinois?
The price-to-rent ratio in Quincy, Illinois is about 23.4, meaning it would take roughly 23.4 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 Quincy.
Are home prices or rent rising faster in Quincy, Illinois?
Both home prices and rent are rising in Quincy, up about 26.5% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Quincy, Illinois?
57.8% of households in Quincy, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Quincy, Illinois?
The housing vacancy rate in Quincy, Illinois is 7.6%, lower than the Illinois average of 7.7%.
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