Madison County, Illinois Housing Market
In Madison County, Illinois, the median home value is $173,000, with a median monthly rent of $1,024. This places Madison County at #1740 nationally out of 3134 counties by median home value, and #25 within Illinois.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,153
- Establishments: 5,243
- BLS QCEW, 2025
Housing Supply
- Single-family: 323
- Multi-family: 112
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 109,104 (avg $80,938)
- Outflow: 105,571 (avg $81,938)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Madison County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 62097 | 218.2 | -20.66% | 2025 |
| 2 | 62281 | 200.8 | -11.47% | 2025 |
| 3 | 62061 | 264.1 | +13.77% | 2025 |
| 4 | 62018 | 211.9 | -4.34% | 2025 |
| 5 | 62024 | 192.2 | +6.24% | 2025 |
| 6 | 62234 | 209.7 | +6.35% | 2025 |
| 7 | 62294 | 228.0 | +4.84% | 2025 |
| 8 | 62025 | 243.3 | +9.54% | 2025 |
| 9 | 62095 | 187.1 | -2.78% | 2025 |
| 10 | 62034 | 222.5 | +6.92% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Madison County Compares
| Metric | Madison County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $173,000 | $153,019 | $227,706 |
| Median Gross Rent | $1,024 | $867 | $968 |
| Owner Occupancy Rate | 74.2% | 75.8% | 73.3% |
| Price/Rent Ratio | 14.1 | 14.5 | 18.7 |
Market Analysis
The median home value in Madison County is 13.1% above the Illinois state average and 24.0% below the U.S. national average. The median rent of $1,024/month is 18.1% above the state average.
With a price-to-rent ratio of 14.1, buying a home in Madison County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Madison County has an owner-occupancy rate of 74.2%, 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 |
|---|---|---|---|
| Wadena County | Minnesota | $173,000 | $746 |
| Howell County | Missouri | $173,000 | $733 |
| Bowie County | Texas | $173,000 | $988 |
| O'Brien County | Iowa | $173,100 | $868 |
| Camp County | Texas | $173,100 | $801 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Putnam County | $172,700 | $851 | 81.5% |
| Jersey County | $171,900 | $846 | 80.5% |
| Sangamon County | $176,300 | $983 | 71.3% |
| Tazewell County | $167,500 | $909 | 78.4% |
| St. Clair County | $180,300 | $1,090 | 68.4% |
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).