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Barrington Housing Information

IndexBarringtonIllinoisNational
Median home price$493,000$174,800$184,700
Median rent asked$1,220$925$949
Avg. people per household2.52.62.6
Owner occupied households74.2%66.0%63.6%
Renter occupied households25.8%34.0%36.4%
The above shows an overview of the real estate market in Barrington, IL. Note how the median home price for Barrington, IL runs $493,000, which is 182% higher than the average property price for Illinois. So you’re going to get real estate in Barrington, IL that is on-average less affordable than what you’ll find in the rest of Illinois. As for rent, the median for Barrington, IL runs $1,220, which is comparatively 32% higher than the average rent for Illinois. For Barrington, IL, about 74.2% of the population consist of home owners with about 2.5 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Barrington, IL offers a wide variety of real estate. To find your perfect home in Barrington, IL, filter your choice by price, location, and number of beds and baths using the search area above.

Barrington Home Affordability

When deciding where to purchase Barrington, IL real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Barrington, IL the median home price is $493,000 and $119,688 is the median household income. As a result, the home price to income ratio in Barrington, IL is 4.1x, which is 39% higher than the Illinois average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Barrington, IL the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Barrington, IL.

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Park City, IL7,402$27,90085%
North Chicago, IL30,023$106,50042%
McCullom Lake, IL1,011$110,60040%
Waukegan, IL88,159$118,60036%
Round Lake Park, IL7,989$120,00035%
Barrington, IL10,449$493,000167%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Beverly Hills, MI10,450$320,20073%
Manville, NJ10,448$248,90035%
Fairview Shores, FL10,450$144,40022%
Struthers, OH10,445$71,90061%
Hillsdale, NJ10,454$515,800179%
Barrington, IL10,449$493,000167%

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