Tazewell County, Illinois Housing Market
In Tazewell County, Illinois, the median home value is $167,500, with a median monthly rent of $909. This places Tazewell County at #1854 nationally out of 3134 counties by median home value, and #28 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: $1,127
- Establishments: 2,432
- BLS QCEW, 2025
Housing Supply
- Single-family: 84
- Multi-family: 34
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 55,507 (avg $83,835)
- Outflow: 53,340 (avg $84,550)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Tazewell County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 61535 | 209.7 | — | 2025 |
| 2 | 61733 | 222.5 | — | 2024 |
| 3 | 61759 | 163.6 | -4.06% | 2025 |
| 4 | 61571 | 198.4 | +4.63% | 2025 |
| 5 | 61554 | 174.7 | +9.50% | 2025 |
| 6 | 61568 | 208.9 | +10.04% | 2025 |
| 7 | 61610 | 164.8 | +7.53% | 2025 |
| 8 | 61611 | 179.5 | +6.32% | 2025 |
| 9 | 61530 | 188.8 | +6.74% | 2025 |
| 10 | 61550 | 188.5 | +7.21% | 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.
📝 Local Market Notes
Tazewell County, Illinois, functions as a balanced market with distinct affordability advantages, characterized by a price-to-income ratio of 2.15 compared to the national average of 3.20. The median home value of $167,500 sits 26.4% below the national mean, while the median gross rent of $909 results in a rent burden of only 14.0%, well below the national benchmark of 17.2%. This dual affordability profile suggests that both purchasing and renting remain financially accessible relative to broader U.S. standards. The market’s stability is further evidenced by a price-to-rent ratio of 15.4, indicating that ownership costs are not disproportionately high compared to rental expenses, a metric that typically signals a healthy equilibrium between the two housing sectors. Recent trend data reveals a period of accelerated appreciation that has since normalized. Home values increased by 9.3% in 2022, a peak year of growth, before moderating to 3.4% in 2023 and 1.8% in 2024. However, current FHFA HPI data indicates a recent momentum shift, with a year-over-year county change of 6.74%, outperforming the state average of 5.54% by 1.20 percentage points. This divergence suggests that Tazewell County is currently experiencing stronger price appreciation than the surrounding Illinois market. The local economic foundation supports this activity, with a median household income of $77,982, which is 14.7% above the national average. Furthermore, positive net migration of 2,167 filers between 2021 and 2022 demonstrates sustained demographic interest, driven by an average inflow income of $83,835. Housing supply remains constrained relative to demand, with only 118 new units authorized in 2025, comprising 84 single-family and 34 multi-family homes. This limited new construction, combined with a high owner-occupancy rate of 78.4%, suggests that existing inventory is the primary driver of market dynamics. The national 30-year fixed mortgage rate of 7.40% presents a significant financing hurdle, yet the county’s low price-to-income ratio mitigates this impact compared to higher-priced markets. For prospective buyers, the combination of above-average incomes and below-average home values creates a favorable entry point, despite the current high interest rate environment. Renters benefit from low cost burdens, though the recent 6.74% price appreciation may gradually trickle down into rental markets as landlords adjust to higher asset values. The overall picture is one of a resilient, affordable market that is currently outpacing state-level growth metrics.
🔗 Explore Tazewell County on Our Sister Sites
Get the complete picture for Tazewell County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Tazewell County Compares
| Metric | Tazewell County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $167,500 | $153,019 | $227,706 |
| Median Gross Rent | $909 | $867 | $968 |
| Owner Occupancy Rate | 78.4% | 75.8% | 73.3% |
| Price/Rent Ratio | 15.4 | 14.5 | 18.7 |
Market Analysis
The median home value in Tazewell County is 9.5% above the Illinois state average and 26.4% below the U.S. national average. The median rent of $909/month is 4.8% above the state average.
With a price-to-rent ratio of 15.4, the buy-vs-rent decision in Tazewell County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Tazewell County has an owner-occupancy rate of 78.4%, 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 |
|---|---|---|---|
| Dent County | Missouri | $167,500 | $660 |
| Foster County | North Dakota | $167,500 | $780 |
| Nottoway County | Virginia | $167,500 | $972 |
| Divide County | North Dakota | $167,600 | $1,105 |
| Sheridan County | Kansas | $167,200 | $689 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Winnebago County | $164,500 | $1,021 | 65.9% |
| Jersey County | $171,900 | $846 | 80.5% |
| Adams County | $162,600 | $828 | 72.1% |
| Putnam County | $172,700 | $851 | 81.5% |
| Madison County | $173,000 | $1,024 | 74.2% |
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).