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Arcola Housing Information

IndexArcolaIllinoisNational
Median home price$86,600$174,800$184,700
Median rent asked$658$925$949
Avg. people per household2.52.62.6
Owner occupied households65.0%66.0%63.6%
Renter occupied households35.0%34.0%36.4%
Above, you will see a summary of real estate in Arcola, IL. On average, homes in Arcola, IL cost $86,600, a value that is 50% lower than the average in Illinois. In general terms, this results in Arcola, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Arcola, IL pay $658; this value is 29% lower than the average amount renters pay in Illinois. 65.0% of Arcola, IL residents own their own homes and, on average, each of the homes has 2.5 occupants. Arcola, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Arcola, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Arcola Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Arcola, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Arcola, IL’s median home price stands at $86,600 while $49,688 is the value of the average household income. The resulting home price to income ratio, which is 1.7x, differs from the Illinois average as the ratio is 41% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Arcola, IL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Arcola, IL.

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Longview, IL137$37,50080%
Garrett, IL79$43,80076%
Hindsboro, IL349$57,70069%
Oakland, IL898$67,60063%
Humboldt, IL483$71,30061%
Arcola, IL2,881$86,60053%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Ballville, OH2,881$147,10020%
Parowan, UT2,881$158,00014%
Seaside Heights, NJ2,881$287,50056%
Flemingsburg, KY2,880$82,80055%
Dresden, TN2,882$94,50049%
Arcola, IL2,881$86,60053%

Source: The Arcola, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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