El Paso, Illinois Real Estate & Housing Market

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El Paso Housing Information

Index	El Paso	Illinois	National
Median home price	$119,000	$174,800	$184,700
Median rent asked	$803	$925	$949
Avg. people per household	2.5	2.6	2.6
Owner occupied households	73.2%	66.0%	63.6%
Renter occupied households	26.8%	34.0%	36.4%

A general overview of the El Paso, IL real estate market is displayed above. The median home price for homes in El Paso, IL is $119,000, which is 32% lower than the Illinois average. This means that real estate in the El Paso, IL area is generally more affordable than the rest of Illinois. The median rent price in El Paso, IL is $803 which is 13% lower than the Illinois average. In El Paso, IL, 73.2% of people are home owners and an average of 2.5 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in El Paso, IL. We make it easy to find El Paso, IL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

El Paso Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in El Paso, 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 El Paso, IL is $119,000 and the median household income is $51,875. This results in a home price to income ratio of 2.3x, which is 22% 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 El Paso, 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 El Paso, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Dana, IL	121	$71,400	61%
Secor, IL	369	$81,900	56%
Washburn, IL	1,007	$86,800	53%
Minonk, IL	2,151	$88,600	52%
Flanagan, IL	1,069	$95,900	48%
El Paso, IL	2,749	$119,000	36%

Cities with similar population

City, State	Population	Home Price	National Avg.
Cohasset, MN	2,749	$212,400	15%
Hooks, TX	2,749	$84,500	54%
East Quincy, CA	2,749	$206,200	12%
Hopkins, SC	2,749	$73,700	60%
East Tawas, MI	2,750	$89,700	51%
El Paso, IL	2,749	$119,000	36%

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