Calhoun County, Illinois Housing Market
In Calhoun County, Illinois, the median home value is $190,900, with a median monthly rent of $583. This places Calhoun County at #1505 nationally out of 3134 counties by median home value, and #18 within Illinois.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $0
- Establishments: 70
- BLS QCEW, 2025
Housing Supply
- Single-family: 5
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 1,821 (avg $74,347)
- Outflow: 1,725 (avg $74,784)
- IRS Statistics of Income
📝 Local Market Notes
Calhoun County, Illinois, exhibits a distinct buyer’s market profile, characterized by a price-to-income ratio of 2.05, significantly below the national average of 3.20. This affordability is further underscored by a rent burden of 7.5% of household income, compared to the 17.2% national benchmark. However, the price-to-rent ratio stands at 27.3, exceeding the national average of 18.7, suggesting that while purchasing is relatively inexpensive, renting is comparatively costly relative to home values. The market is defined by high owner occupancy at 88.7%, indicating a stable residential base with limited rental inventory. The multi-year trend reveals aggressive appreciation, with median home values rising from $110,900 in 2017 to $190,900 in 2024, representing a cumulative increase of approximately 71.9%. Annual growth rates have remained robust, peaking at 13.2% in 2021 and maintaining a 9.7% increase in 2024. This trajectory contrasts sharply with the modest median gross rent of $583, highlighting a significant divergence where home values are rising substantially faster than rental costs. The median household income of $93,203 is 37.1% above the national average, providing the economic foundation for this price growth. Despite the small population of 4,330, the county’s home values are 24.8% higher than the Illinois state average, positioning it as a premium micro-market within the state. Notable data anomalies include the BLS reporting zero total employment and average weekly wage, likely reflecting a data collection limitation or unique local economic structure rather than true economic absence, given the high income levels. Housing supply remains extremely constrained, with only five new single-family units authorized in 2025 and no multi-family construction, which likely contributes to sustained price pressure. Net migration of +96 filers indicates modest population growth, with inflow and outflow incomes nearly identical at approximately $74,500. With 30-year fixed mortgage rates at 7.40%, the high cost of borrowing offsets some of the local affordability advantages. Potential buyers should note that the low price-to-income ratio is a strong indicator of relative value, but the limited new construction and rapid historical appreciation suggest that entry prices will continue to reflect the area’s high-income demographic rather than typical rural Illinois pricing.
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| Metric | Calhoun County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $190,900 | $153,019 | $227,706 |
| Median Gross Rent | $583 | $867 | $968 |
| Owner Occupancy Rate | 88.7% | 75.8% | 73.3% |
| Price/Rent Ratio | 27.3 | 14.5 | 18.7 |
Market Analysis
The median home value in Calhoun County is 24.8% above the Illinois state average and 16.2% below the U.S. national average. The median rent of $583/month is 32.8% below the state average.
With a price-to-rent ratio of 27.3, Calhoun County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Calhoun County has an owner-occupancy rate of 88.7%, compared to 75.8% in Illinois and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Beaver County | Pennsylvania | $190,900 | $890 |
| Grant County | Minnesota | $191,000 | $797 |
| Nash County | North Carolina | $191,000 | $953 |
| Fulton County | Ohio | $191,000 | $863 |
| Burleson County | Texas | $191,000 | $1,063 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Effingham County | $189,500 | $733 | 78.2% |
| Clinton County | $192,400 | $912 | 80.3% |
| Kankakee County | $192,600 | $1,097 | 69.9% |
| Ogle County | $189,200 | $936 | 75.4% |
| Menard County | $185,500 | $885 | 79.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).