Monroe County, Illinois Housing Market
In Monroe County, Illinois, the median home value is $282,100, with a median monthly rent of $1,042. This places Monroe County at #720 nationally out of 3134 counties by median home value, and #8 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: $1,000
- Establishments: 775
- BLS QCEW, 2025
Housing Supply
- Single-family: 63
- Multi-family: 2
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 15,091 (avg $109,658)
- Outflow: 14,580 (avg $110,659)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Monroe County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 62264 | 202.2 | +25.40% | 2025 |
| 2 | 62278 | 220.0 | +11.70% | 2025 |
| 3 | 62298 | 214.4 | +6.79% | 2025 |
| 4 | 62236 | 210.7 | +4.78% | 2025 |
| 5 | 62244 | 150.4 | +7.31% | 2021 |
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 Monroe County Compares
| Metric | Monroe County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $282,100 | $153,019 | $227,706 |
| Median Gross Rent | $1,042 | $867 | $968 |
| Owner Occupancy Rate | 84.7% | 75.8% | 73.3% |
| Price/Rent Ratio | 22.6 | 14.5 | 18.7 |
Market Analysis
The median home value in Monroe County is 84.4% above the Illinois state average and 23.9% above the U.S. national average. The median rent of $1,042/month is 20.2% above the state average.
With a price-to-rent ratio of 22.6, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Monroe County has an owner-occupancy rate of 84.7%, 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 |
|---|---|---|---|
| Southeast Fairbanks Census Area | Alaska | $282,000 | $1,351 |
| Daggett County | Utah | $282,300 | $900 |
| Amelia County | Virginia | $282,400 | $1,164 |
| Putnam County | Tennessee | $282,500 | $908 |
| Hubbard County | Minnesota | $282,600 | $905 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Grundy County | $271,700 | $1,177 | 74.4% |
| McHenry County | $308,100 | $1,401 | 82.7% |
| Will County | $319,600 | $1,462 | 82.8% |
| DeKalb County | $243,600 | $1,049 | 61.4% |
| Kendall County | $322,400 | $1,781 | 84.0% |
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).