Wilmette, Illinois Housing Market Prices
Updated
Wilmette 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.
-
Median home price 455% above the Illinois median$831,563
-
Median rent 51% above the Illinois median$1,925
Housing Market Overview
| Metric | Wilmette | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $831,563 | $149,936 | $248,835 |
| Price Trend (Annual %) | 6.2% | 2.5% | 7.5% |
| Median Gross Rent | $1,925 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilmette is about 455% higher than in Illinois. Rent is about 51% higher 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 Wilmette, up about 6.2% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Wilmette rose about 13.8% between 2015 and 2024, from $1,691 to $1,925. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Wilmette.
Buying the median-priced home in Wilmette costs roughly 36.0 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 Wilmette. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Wilmette | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $831,563 | $149,936 | $248,835 |
| Median Household Income | $189,031 | $84,042 | $80,455 |
| Price-to-Income Ratio | 4.4 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wilmette rose about 87.3%, while median household income rose about 46.4% 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 | Wilmette | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 83.8% | 61.9% | 58.5% |
| Rental Rate | 12.5% | 30.4% | 31.2% |
| Vacancy Rate | 3.7% | 7.7% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Wilmette has a homeownership rate of 83.8%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.7%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Wilmette | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1955 | 1969 | 1978 |
| Median Number of Rooms | 7.5 | 5.6 | 5.5 |
The typical housing unit in Wilmette was built around 1955. On average, 2.7 people live in a home with about 7.5 rooms, staying for about 16.0 years on average.
Wilmette, IL Housing Compared With Nearby Cities
How Wilmette, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wilmette, IL | 24,620 | $831,563 #1/3 | $1,925 #1/3 | 87.0% #1/3 |
| Skokie, IL | 65,951 | $605,908 | $1,560 | 74.8% |
| Evanston, IL | 67,656 | $315,872 | $1,760 | 56.0% |
Frequently Asked Questions
Common questions about the housing market in Wilmette, Illinois.
What is the median home price in Wilmette, Illinois?
The median home price in Wilmette, Illinois is $831,563, higher than the Illinois average of $149,936.
What is the average home price in Wilmette, Illinois?
The typical home price in Wilmette, Illinois, reported as the median sale price, is $831,563. 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 Wilmette, Illinois?
The median gross rent in Wilmette, Illinois is $1,925 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Wilmette in 2020?
In 2020, the median gross rent in Wilmette, Illinois was $1,482 per month.
What is the price-to-rent ratio in Wilmette, Illinois?
The price-to-rent ratio in Wilmette, Illinois is about 36.0, meaning it would take roughly 36.0 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 Wilmette.
Are home prices or rent rising faster in Wilmette, Illinois?
Both home prices and rent are rising in Wilmette, up about 6.2% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wilmette, Illinois?
83.8% of households in Wilmette, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Wilmette, Illinois?
The housing vacancy rate in Wilmette, Illinois is 3.7%, lower than the Illinois average of 7.7%.
Size up the neighborhood around one home
Home values, rent, homeownership, schools, crime, health and nearby amenities for any US address, in one neighborhood report. Ready in about 3 minutes, in your browser or as a PDF.
Explore My Address →