Godfrey, Illinois Real Estate & Housing Market

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Godfrey Housing Information

Index	Godfrey	Illinois	National
Median home price	$137,000	$174,800	$184,700
Median rent asked	$799	$925	$949
Avg. people per household	2.3	2.6	2.6
Owner occupied households	83.2%	66.0%	63.6%
Renter occupied households	16.8%	34.0%	36.4%

Above, you will see a summary of real estate in Godfrey, IL. On average, homes in Godfrey, IL cost $137,000, a value that is 22% lower than the average in Illinois. In general terms, this results in Godfrey, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Godfrey, IL pay $799; this value is 14% lower than the average amount renters pay in Illinois. 83.2% of Godfrey, IL residents own their own homes and, on average, each of the homes has 2.3 occupants. Godfrey, 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 Godfrey, 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.

Godfrey Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Godfrey, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Godfrey, IL’s median home price stands at $137,000 while $62,845 is the value of the average household income. The resulting home price to income ratio, which is 2.2x, differs from the Illinois average as the ratio is 26% lower 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 Godfrey, 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 Godfrey, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Champ, MO	7	$0	100%
Kinloch, MO	308	$0	100%
Fidelity, IL	161	$44,200	76%
Royal Lakes, IL	134	$47,500	74%
Glasgow Village, MO	5,382	$52,500	72%
Godfrey, IL	17,809	$137,000	26%

Cities with similar population

City, State	Population	Home Price	National Avg.
Durango, CO	17,817	$383,500	108%
Shafter, CA	17,801	$153,600	17%
Cherry Hill, VA	17,822	$304,600	65%
Maumelle, AR	17,795	$218,700	18%
Central Point, OR	17,793	$188,300	2%
Godfrey, IL	17,809	$137,000	26%

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