Wayne County, Illinois Housing Market
In Wayne County, Illinois, the median home value is $110,700, with a median monthly rent of $657. This places Wayne County at #2787 nationally out of 3134 counties by median home value, and #77 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: $858
- Establishments: 315
- BLS QCEW, 2025
Housing Supply
- Single-family: 1
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,409 (avg $60,725)
- Outflow: 6,116 (avg $61,508)
- IRS Statistics of Income
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| Metric | Wayne County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $110,700 | $153,019 | $227,706 |
| Median Gross Rent | $657 | $867 | $968 |
| Owner Occupancy Rate | 78.4% | 75.8% | 73.3% |
| Price/Rent Ratio | 14.0 | 14.5 | 18.7 |
Market Analysis
The median home value in Wayne County is 27.7% below the Illinois state average and 51.4% below the U.S. national average. The median rent of $657/month is 24.2% below the state average.
With a price-to-rent ratio of 14.0, buying a home in Wayne 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.
Wayne 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 |
|---|---|---|---|
| Calhoun County | Arkansas | $110,700 | $769 |
| Issaquena County | Mississippi | $110,800 | $339 |
| Pike County | Mississippi | $110,800 | $919 |
| Falls County | Texas | $110,900 | $731 |
| Garden County | Nebraska | $110,400 | $700 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Schuyler County | $109,700 | $853 | 79.4% |
| Knox County | $111,900 | $788 | 70.8% |
| Richland County | $112,000 | $805 | 73.8% |
| Montgomery County | $112,300 | $723 | 77.4% |
| Perry County | $112,600 | $728 | 80.9% |
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).