Decatur, Illinois Real Estate & Housing Market

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Decatur Housing Information

Index	Decatur	Illinois	National
Median home price	$80,300	$174,800	$184,700
Median rent asked	$654	$925	$949
Avg. people per household	2.2	2.6	2.6
Owner occupied households	61.7%	66.0%	63.6%
Renter occupied households	38.3%	34.0%	36.4%

A general overview of the Decatur, IL real estate market is displayed above. The median home price for homes in Decatur, IL is $80,300, which is 54% lower than the Illinois average. This means that real estate in the Decatur, IL area is generally more affordable than the rest of Illinois. The median rent price in Decatur, IL is $654 which is 29% lower than the Illinois average. In Decatur, IL, 61.7% of people are home owners and an average of 2.2 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Decatur, IL. We make it easy to find Decatur, IL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Decatur Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Decatur, IL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Decatur, IL is $80,300 and the median household income is $40,777. This results in a home price to income ratio of 2.0x, which is 33% lower than the Illinois average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Decatur, IL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Decatur, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
LaPlace, IL	161	$72,100	61%
Bethany, IL	1,275	$80,100	57%
Boody, IL	259	$80,800	56%
Latham, IL	297	$81,000	56%
Blue Mound, IL	1,087	$81,300	56%
Decatur, IL	74,063	$80,300	57%

Cities with similar population

City, State	Population	Home Price	National Avg.
Gastonia, NC	73,877	$135,900	26%
Bolingbrook, IL	74,320	$202,900	10%
San Ramon, CA	74,366	$810,700	339%
Schaumburg, IL	74,366	$230,800	25%
Perris, CA	73,718	$211,400	14%
Decatur, IL	74,063	$80,300	57%

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