Richland County, Illinois Housing Market Prices
Richland 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 68% above the Illinois median More expensive than 93% of counties in Illinois$251,414
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Median rent 37% below the Illinois median$805
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Richland County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,414 | $149,936 | $248,835 |
| Price Trend (Annual %) | 34.5% | 2.5% | 7.5% |
| Median Gross Rent | $805 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Richland County is about 68% higher than in Illinois. Rent is about 37% 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 Richland County, up about 34.5% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Richland County rose about 51.4% between 2015 and 2024, from $532 to $805. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Richland County.
Buying the median-priced home in Richland County costs roughly 26.0 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 Richland County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Richland County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,414 | $149,936 | $248,835 |
| Median Household Income | $63,325 | $84,042 | $80,455 |
| Price-to-Income Ratio | 4.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Richland County rose about 144.5%, while median household income rose about 53.9% 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 | Richland County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.5% | 61.9% | 58.5% |
| Rental Rate | 23.0% | 30.4% | 31.2% |
| Vacancy Rate | 12.5% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Richland County has a homeownership rate of 64.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 12.5%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Richland County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1971 | 1969 | 1978 |
| Median Number of Rooms | 5.7 | 5.6 | 5.5 |
The typical housing unit in Richland County was built around 1971. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Richland County, IL Housing Compared With Nearby Counties
How Richland County, IL compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Richland County, IL | 15,599 | $251,414 #1/2 | $805 #2/2 | 73.8% #1/2 |
| Lawrence County, IL | 15,031 | $127,455 | $835 | 71.8% |
Frequently Asked Questions
Common questions about the housing market in Richland County, Illinois.
What is the median home price in Richland County, Illinois?
The median home price in Richland County, Illinois is $251,414, higher than the Illinois average of $149,936.
What is the average home price in Richland County, Illinois?
The typical home price in Richland County, Illinois, reported as the median sale price, is $251,414. 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 Richland County, Illinois?
The median gross rent in Richland County, Illinois is $805 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Richland County in 2020?
In 2020, the median gross rent in Richland County, Illinois was $569 per month.
What is the price-to-rent ratio in Richland County, Illinois?
The price-to-rent ratio in Richland County, Illinois is about 26.0, meaning it would take roughly 26.0 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 Richland County.
Are home prices or rent rising faster in Richland County, Illinois?
Both home prices and rent are rising in Richland County, up about 34.5% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Richland County, Illinois?
64.5% of households in Richland County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Richland County, Illinois?
The housing vacancy rate in Richland County, Illinois is 12.5%, higher than the Illinois average of 7.7%.
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