Wabash County, Illinois Housing Market Prices
Wabash 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 39% below the Illinois median$91,000
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Median rent 38% below the Illinois median$793
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $91,000 | $149,936 | $248,835 |
| Price Trend (Annual %) | 1.2% | 2.5% | 7.5% |
| Median Gross Rent | $793 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wabash County is about 39% lower than in Illinois. Rent is about 38% 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 Wabash County, up about 1.2% and 4.3% a year respectively. Rent is changing faster.
Median rent in Wabash County rose about 41.4% between 2015 and 2024, from $561 to $793. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Wabash County.
Buying the median-priced home in Wabash County costs roughly 9.6 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 Wabash County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $91,000 | $149,936 | $248,835 |
| Median Household Income | $57,796 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wabash County fell about 34.4%, while median household income rose about 22.9% 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 | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.9% | 61.9% | 58.5% |
| Rental Rate | 20.7% | 30.4% | 31.2% |
| Vacancy Rate | 12.4% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Wabash County has a homeownership rate of 66.9%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 12.4%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1965 | 1969 | 1978 |
| Median Number of Rooms | 6.0 | 5.6 | 5.5 |
The typical housing unit in Wabash County was built around 1965. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Wabash County, IL Housing Compared With Nearby Counties
How Wabash County, IL compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wabash County, IL | 11,116 | $91,000 #3/3 | $793 #3/3 | 76.3% #1/3 |
| Lawrence County, IL | 15,031 | $127,455 | $835 | 71.8% |
| Richland County, IL | 15,599 | $251,414 | $805 | 73.8% |
Frequently Asked Questions
Common questions about the housing market in Wabash County, Illinois.
What is the median home price in Wabash County, Illinois?
The median home price in Wabash County, Illinois is $91,000, lower than the Illinois average of $149,936.
What is the average home price in Wabash County, Illinois?
The typical home price in Wabash County, Illinois, reported as the median sale price, is $91,000. 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 Wabash County, Illinois?
The median gross rent in Wabash County, Illinois is $793 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Wabash County in 2020?
In 2020, the median gross rent in Wabash County, Illinois was $664 per month.
What is the price-to-rent ratio in Wabash County, Illinois?
The price-to-rent ratio in Wabash County, Illinois is about 9.6, meaning it would take roughly 9.6 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 Wabash County.
Are home prices or rent rising faster in Wabash County, Illinois?
Both home prices and rent are rising in Wabash County, up about 1.2% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Wabash County, Illinois?
66.9% of households in Wabash County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Wabash County, Illinois?
The housing vacancy rate in Wabash County, Illinois is 12.4%, higher than the Illinois average of 7.7%.
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