Illinois Housing Market Trends
Real-time market data powered by Zillow Research. Last updated: 2026-03-03
Is Now a Good Time to Buy in Illinois?
The Illinois housing market is showing balanced conditions.
home values have grown a moderate 4.4% year-over-year. there are currently 1,358 homes on the market.
Median Home Value
$277,483
Zillow Home Value Index
Year-over-Year
+4.4%
Home value change
5-Year Change
+35.1%
Since 2021
Median Rent
$1,254/mo
Zillow Observed Rent Index
Active Listings
1,358
Homes for sale
Home Value Trends
5-year Zillow Home Value Index (ZHVI) for Illinois vs. national average. ZHVI reflects the typical home value in the 35th-65th percentile range.
Rent Trends
Average rent in Illinois: $1,254/mo (+5.3% YoY)
Rent vs. Buy Analysis
With a median home value of $277,483 and average rent of $1,254/mo, the price-to-rent ratio in Illinois is 18.4. A ratio of 15-21 means it could go either way — run the numbers.
Run Full Rent vs. Buy CalculatorTop Markets in Illinois
Explore housing data for 12 metro areas in Illinois. Click any market for detailed trends and analysis.
Chicago, IL
$333,939
Avg rent: $2,091/mo
Bloomington, IL
$245,524
Avg rent: $1,553/mo
Champaign, IL
$224,206
Avg rent: $1,286/mo
Rochelle, IL
$216,644
Kankakee, IL
$212,257
Avg rent: $1,400/mo
Effingham, IL
$206,099
Rockford, IL
$206,080
Avg rent: $1,202/mo
Springfield, IL
$188,362
Quincy, IL
$176,940
Avg rent: $1,037/mo
Dixon, IL
$172,602
Avg rent: $980/mo
Peoria, IL
$161,415
Avg rent: $1,176/mo
Pontiac, IL
$157,790
Avg rent: $1,055/mo
Continue Learning About Illinois
Market data provided by Zillow Research. Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) are trademarks of Zillow, Inc.