Braidwood, Illinois Real Estate & Housing Market

Braidwood, IL Listings

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Braidwood Housing Information

Index	Braidwood	Illinois	National
Median home price	$154,500	$174,800	$184,700
Median rent asked	$858	$925	$949
Avg. people per household	2.4	2.6	2.6
Owner occupied households	75.2%	66.0%	63.6%
Renter occupied households	24.8%	34.0%	36.4%

A general summary of the real estate market in Braidwood, IL is listed above. Properties in Braidwood, IL average a cost of $154,500, which is 12% lower than the median home price for real estate located in Illinois. This means that the region of Braidwood, IL is, on average, more affordable when compared to the remainder of Illinois. Since tenants living in Braidwood, IL will pay an average of $858, the median rental cost is 7% lower than in Illinois. 75.2% of people in Braidwood, IL own their own homes, and an average of 2.4 people inhabit each property. Braidwood, IL has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Braidwood Home Affordability

When starting your search for real estate in Braidwood, IL, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Braidwood, IL costs $154,500 while each household has an average income of $61,074. Consequently, the ratio of home price to household income is 2.5x; this ratio is 14% lower than the average in Illinois. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Braidwood, IL. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Braidwood, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Wilmington village, IL	144	$55,000	70%
Union Hill, IL	32	$100,000	46%
Verona, IL	259	$104,200	44%
Reddick, IL	328	$108,000	42%
Godley, IL	730	$110,300	40%
Braidwood, IL	6,102	$154,500	16%

Cities with similar population

City, State	Population	Home Price	National Avg.
Somerset, PA	6,102	$121,900	34%
Stone Mountain, GA	6,102	$84,000	55%
Brunswick, MD	6,101	$199,500	8%
Cheshire Village, CT	6,103	$305,400	65%
Manistee, MI	6,100	$95,900	48%
Braidwood, IL	6,102	$154,500	16%

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