Washington County, Illinois Housing Market
In Washington County, Illinois, the median home value is $155,700, with a median monthly rent of $818. This places Washington County at #2121 nationally out of 3134 counties by median home value, and #35 within Illinois.
How is this calculated?
Composite of 4 axes: Affordability (30%), Stability (25%), Momentum (25%), Vitality (20%), each normalized as a percentile rank across 3134 U.S. counties. Editorial rating only — not investment advice or a property valuation.
Market Phase classifies the current state of the market based on 5-year price growth and recent FHFA momentum: 🔥 Boom · 📈 Growth · ⚖️ Stable · ❄️ Cooling · 🌱 Recovering. This is a present-state classification, not a forecast.
📈 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: $1,240
- Establishments: 336
- BLS QCEW, 2025
Housing Supply
- Single-family: 15
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 5,884 (avg $83,135)
- Outflow: 5,710 (avg $83,982)
- IRS Statistics of Income
📝 Local Market Analysis
Washington County, Illinois, functions as a distinctly affordable market, characterized by a price-to-income ratio of 1.99, significantly below the national average of 3.20. This affordability is reinforced by a rent burden of 12.5%, well under the national benchmark of 17.2%. The market leans toward buyer-favorable conditions, evidenced by a price-to-rent ratio of 15.9, which is lower than the national average of 18.7, suggesting that ownership remains a more cost-effective long-term strategy than renting. With an owner-occupancy rate of 84.1%, the housing stock is heavily dominated by homeowners, limiting the depth of the rental inventory and further supporting the economic logic of purchasing. Recent market dynamics reveal a period of accelerated appreciation followed by stabilization. Median home values surged 19.1% in 2022, rising from $123,500 to $147,100, before moderating to a 3.9% increase in 2024 to reach $155,700. This trajectory contrasts with the FHFA House Price Index, which indicates a more robust 8.59% year-over-year growth in 2025, outperforming the Illinois state average of 5.54% by 3.05 percentage points. This divergence suggests that while census-based estimates show a cooling trend, recent mortgage transaction data reflects sustained upward pressure. The county’s median household income of $78,224 is 15.0% above the national average, providing a strong income base that supports these price levels despite the county’s small population of 13,627. Economic fundamentals indicate a constrained supply environment that supports price resilience. Only 15 new single-family units were authorized in 2025, with zero multi-family construction, signaling minimal new supply to offset demand. Local employment stands at 5,434 jobs with an average weekly wage of $1,240, while net migration added 174 filers between 2021 and 2022, with inflowing residents earning an average of $83,135. Although the 30-year fixed mortgage rate stands at 7.40%, the county’s home values remain 31.6% below the national average, offering significant entry-point value. For potential buyers, the combination of low price-to-income ratios and strong local income levels creates a favorable environment, whereas renters face a limited inventory that may restrict negotiation leverage. The market’s relative strength compared to state averages suggests that Washington County is capturing a disproportionate share of regional housing demand.
Compiled from U.S. Census ACS 2024 5-Year Estimates, FHFA House Price Index, BLS QCEW, and IRS migration data.
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| Metric | Washington County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $155,700 | $153,019 | $227,706 |
| Median Gross Rent | $818 | $867 | $968 |
| Owner Occupancy Rate | 84.1% | 75.8% | 73.3% |
| Price/Rent Ratio | 15.9 | 14.5 | 18.7 |
Market Analysis
The median home value in Washington County is 1.8% above the Illinois state average and 31.6% below the U.S. national average. The median rent of $818/month is 5.7% below the state average.
With a price-to-rent ratio of 15.9, the buy-vs-rent decision in Washington County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Washington County has an owner-occupancy rate of 84.1%, 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 |
|---|---|---|---|
| Washington Parish | Louisiana | $155,700 | $774 |
| Clarion County | Pennsylvania | $155,700 | $798 |
| Sutton County | Texas | $155,700 | $772 |
| Halifax County | Virginia | $155,700 | $790 |
| Humboldt County | Iowa | $155,800 | $744 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Williamson County | $156,400 | $930 | 70.7% |
| Lee County | $154,600 | $894 | 73.6% |
| Peoria County | $158,500 | $993 | 67.0% |
| Henry County | $151,600 | $842 | 79.9% |
| Johnson County | $160,500 | $781 | 82.0% |
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 2026-10-15. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).