Hoopeston, Illinois Real Estate & Housing Market

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Hoopeston Housing Information

Index	Hoopeston	Illinois	National
Median home price	$64,500	$174,800	$184,700
Median rent asked	$538	$925	$949
Avg. people per household	2.2	2.6	2.6
Owner occupied households	59.0%	66.0%	63.6%
Renter occupied households	41.0%	34.0%	36.4%

Above, you will see a summary of real estate in Hoopeston, IL. On average, homes in Hoopeston, IL cost $64,500, a value that is 63% lower than the average in Illinois. In general terms, this results in Hoopeston, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Hoopeston, IL pay $538; this value is 42% lower than the average amount renters pay in Illinois. 59.0% of Hoopeston, IL residents own their own homes and, on average, each of the homes has 2.2 occupants. Hoopeston, 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 Hoopeston, 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.

Hoopeston Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Hoopeston, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Hoopeston, IL’s median home price stands at $64,500 while $37,820 is the value of the average household income. The resulting home price to income ratio, which is 1.7x, differs from the Illinois average as the ratio is 42% 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 Hoopeston, 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 Hoopeston, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Ambia, IN	248	$45,800	75%
Rankin, IL	457	$56,900	69%
Henning, IL	243	$57,500	69%
Rossville, IL	1,694	$58,000	69%
Alvan, IL	308	$60,700	67%
Hoopeston, IL	5,245	$64,500	65%

Cities with similar population

City, State	Population	Home Price	National Avg.
White Hall, AR	5,243	$137,800	25%
Manchester, WA	5,242	$254,500	38%
Nelsonville, OH	5,249	$77,700	58%
Hilmar-Irwin, CA	5,250	$204,500	11%
Summit, AZ	5,240	$63,300	66%
Hoopeston, IL	5,245	$64,500	65%

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