Will County, Illinois Housing Market
In Will County, Illinois, the median home value is $319,600, with a median monthly rent of $1,462. This places Will County at #534 nationally out of 3134 counties by median home value, and #6 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: $1,191
- Establishments: 15,629
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,797
- Multi-family: 196
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 287,349 (avg $101,287)
- Outflow: 282,197 (avg $101,813)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Will County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 60432 | 250.3 | +11.84% | 2025 |
| 2 | 60403 | 241.9 | +12.69% | 2025 |
| 3 | 60484 | 213.8 | +5.76% | 2025 |
| 4 | 60433 | 221.1 | -3.12% | 2025 |
| 5 | 60436 | 233.4 | +5.37% | 2025 |
| 6 | 60421 | 207.5 | +7.84% | 2025 |
| 7 | 60408 | 197.7 | +2.17% | 2025 |
| 8 | 60435 | 221.8 | +2.29% | 2025 |
| 9 | 60490 | 207.9 | +3.09% | 2025 |
| 10 | 60404 | 211.2 | +7.67% | 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 Will County Compares
| Metric | Will County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $319,600 | $153,019 | $227,706 |
| Median Gross Rent | $1,462 | $867 | $968 |
| Owner Occupancy Rate | 82.8% | 75.8% | 73.3% |
| Price/Rent Ratio | 18.2 | 14.5 | 18.7 |
Market Analysis
The median home value in Will County is 108.9% above the Illinois state average and 40.4% above the U.S. national average. The median rent of $1,462/month is 68.6% above the state average.
With a price-to-rent ratio of 18.2, the buy-vs-rent decision in Will County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Will County has an owner-occupancy rate of 82.8%, 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 |
|---|---|---|---|
| Pima County | Arizona | $319,700 | $1,212 |
| Rice County | Minnesota | $320,200 | $1,083 |
| Blount County | Tennessee | $320,500 | $1,090 |
| Waller County | Texas | $318,700 | $1,169 |
| Lake County | Florida | $318,400 | $1,586 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Kendall County | $322,400 | $1,781 | 84.0% |
| Cook County | $324,500 | $1,435 | 57.7% |
| Kane County | $327,000 | $1,453 | 76.0% |
| McHenry County | $308,100 | $1,401 | 82.7% |
| Lake County | $345,700 | $1,477 | 74.8% |
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).