Wheaton, Illinois Housing Market Prices
Updated
Wheaton 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 34% above the Illinois median$201,033
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Median rent 41% above the Illinois median$1,795
Housing Market Overview
| Metric | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,033 | $149,936 | $248,835 |
| Price Trend (Annual %) | -0.5% | 2.5% | 7.5% |
| Median Gross Rent | $1,795 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wheaton is about 34% higher than in Illinois. Rent is about 41% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Wheaton: home prices fell about 0.5% a year while rent rose about 4.7% a year. That is an unusual pattern worth watching.
Median rent in Wheaton rose about 45.8% between 2015 and 2024, from $1,231 to $1,795. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Wheaton.
Buying the median-priced home in Wheaton costs roughly 9.3 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 Wheaton. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,033 | $149,936 | $248,835 |
| Median Household Income | $117,910 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wheaton fell about 26.4%, while median household income rose about 34.7% 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 | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.6% | 61.9% | 58.5% |
| Rental Rate | 27.5% | 30.4% | 31.2% |
| Vacancy Rate | 3.9% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Wheaton has a homeownership rate of 68.6%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Wheaton | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1976 | 1969 | 1978 |
| Median Number of Rooms | 6.3 | 5.6 | 5.5 |
The typical housing unit in Wheaton was built around 1976. On average, 2.5 people live in a home with about 6.3 rooms, staying for about 13.0 years on average.
Wheaton, IL Housing Compared With Nearby Cities
How Wheaton, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wheaton, IL | 46,899 | $201,033 #2/2 | $1,795 #1/2 | 71.4% #1/2 |
| Lisle, IL | 22,476 | $585,767 | $1,662 | 56.3% |
Frequently Asked Questions
Common questions about the housing market in Wheaton, Illinois.
What is the median home price in Wheaton, Illinois?
The median home price in Wheaton, Illinois is $201,033, higher than the Illinois average of $149,936.
What is the average home price in Wheaton, Illinois?
The typical home price in Wheaton, Illinois, reported as the median sale price, is $201,033. 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 Wheaton, Illinois?
The median gross rent in Wheaton, Illinois is $1,795 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Wheaton in 2020?
In 2020, the median gross rent in Wheaton, Illinois was $1,458 per month.
What is the price-to-rent ratio in Wheaton, Illinois?
The price-to-rent ratio in Wheaton, Illinois is about 9.3, meaning it would take roughly 9.3 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 Wheaton.
Are home prices or rent rising faster in Wheaton, Illinois?
Home prices and rent are moving in opposite directions in Wheaton: home prices fell about 0.5% a year while rent rose about 4.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wheaton, Illinois?
68.6% of households in Wheaton, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Wheaton, Illinois?
The housing vacancy rate in Wheaton, Illinois is 3.9%, lower than the Illinois average of 7.7%.
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