Rockford, Illinois Housing Market Prices
Rockford 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 33% below the Illinois median$100,992
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Median rent 23% below the Illinois median$980
Housing Market Overview
| Metric | Rockford | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $100,992 | $149,936 | $248,835 |
| Price Trend (Annual %) | 3.5% | 2.5% | 7.5% |
| Median Gross Rent | $980 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rockford is about 33% lower than in Illinois. Rent is about 23% 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 Rockford, up about 3.5% and 4.1% a year respectively. Rent is changing faster.
Median rent in Rockford rose about 36.4% between 2015 and 2024, from $719 to $980. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Rockford.
Buying the median-priced home in Rockford costs roughly 8.6 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 Rockford. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Rockford | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $100,992 | $149,936 | $248,835 |
| Median Household Income | $54,584 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.9 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rockford rose about 36.9%, while median household income rose about 36.0% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rockford | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.5% | 61.9% | 58.5% |
| Rental Rate | 39.1% | 30.4% | 31.2% |
| Vacancy Rate | 9.4% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Rockford has a homeownership rate of 51.5%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 9.4%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Rockford | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1961 | 1969 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Rockford was built around 1961. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rockford, Illinois.
What is the median home price in Rockford, Illinois?
The median home price in Rockford, Illinois is $100,992, lower than the Illinois average of $149,936.
What is the average home price in Rockford, Illinois?
The typical home price in Rockford, Illinois, reported as the median sale price, is $100,992. 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 Rockford, Illinois?
The median gross rent in Rockford, Illinois is $980 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Rockford in 2020?
In 2020, the median gross rent in Rockford, Illinois was $780 per month.
What is the price-to-rent ratio in Rockford, Illinois?
The price-to-rent ratio in Rockford, Illinois is about 8.6, meaning it would take roughly 8.6 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 Rockford.
Are home prices or rent rising faster in Rockford, Illinois?
Both home prices and rent are rising in Rockford, up about 3.5% and 4.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Rockford, Illinois?
51.5% of households in Rockford, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Rockford, Illinois?
The housing vacancy rate in Rockford, Illinois is 9.4%, higher than the Illinois average of 7.7%.
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