Glencoe, Illinois Real Estate & Housing Market

Glencoe, IL Listings

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Glencoe Housing Information

Index	Glencoe	Illinois	National
Median home price	$891,300	$174,800	$184,700
Median rent asked	$1,233	$925	$949
Avg. people per household	2.4	2.6	2.6
Owner occupied households	93.8%	66.0%	63.6%
Renter occupied households	6.2%	34.0%	36.4%

Above, you will see a summary of real estate in Glencoe, IL. On average, homes in Glencoe, IL cost $891,300, a value that is 410% higher than the average in Illinois. In general terms, this results in Glencoe, IL real estate being less affordable than Illinois real estate. On average, people who rent houses in Glencoe, IL pay $1,233; this value is 33% higher than the average amount renters pay in Illinois. 93.8% of Glencoe, IL residents own their own homes and, on average, each of the homes has 2.4 occupants. Glencoe, 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 Glencoe, 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.

Glencoe Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Glencoe, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Glencoe, IL’s median home price stands at $891,300 while $185,320 is the value of the average household income. The resulting home price to income ratio, which is 4.8x, differs from the Illinois average as the ratio is 63% higher 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 Glencoe, 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 Glencoe, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
North Chicago, IL	30,023	$106,500	42%
Franklin Park, IL	18,290	$171,300	7%
Wheeling, IL	38,008	$176,000	5%
Schiller Park, IL	11,813	$178,200	4%
River Grove, IL	10,248	$188,700	2%
Glencoe, IL	8,870	$891,300	383%

Cities with similar population

City, State	Population	Home Price	National Avg.
Quakertown, PA	8,869	$178,600	3%
Thompsonville, CT	8,873	$178,400	3%
Molalla, OR	8,867	$207,200	12%
Selma, TX	8,866	$164,800	11%
Succasunna, NJ	8,874	$387,400	110%
Glencoe, IL	8,870	$891,300	383%

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