Lincoln, Illinois Real Estate & Housing Market

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Lincoln Housing Information

Index	Lincoln	Illinois	National
Median home price	$86,100	$174,800	$184,700
Median rent asked	$676	$925	$949
Avg. people per household	2.0	2.6	2.6
Owner occupied households	58.6%	66.0%	63.6%
Renter occupied households	41.4%	34.0%	36.4%

Above, you will see a summary of real estate in Lincoln, IL. On average, homes in Lincoln, IL cost $86,100, a value that is 51% lower than the average in Illinois. In general terms, this results in Lincoln, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Lincoln, IL pay $676; this value is 27% lower than the average amount renters pay in Illinois. 58.6% of Lincoln, IL residents own their own homes and, on average, each of the homes has 2.0 occupants. Lincoln, 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 Lincoln, 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.

Lincoln Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Lincoln, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Lincoln, IL’s median home price stands at $86,100 while $45,351 is the value of the average household income. The resulting home price to income ratio, which is 1.9x, differs from the Illinois average as the ratio is 36% 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 Lincoln, 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 Lincoln, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Broadwell, IL	152	$51,300	72%
Beason, IL	70	$55,800	70%
Middletown, IL	323	$59,300	68%
Cornland, IL	70	$65,700	64%
San Jose, IL	645	$66,600	64%
Lincoln, IL	14,253	$86,100	53%

Cities with similar population

City, State	Population	Home Price	National Avg.
Red Hill, SC	14,251	$157,800	15%
Swampscott, MA	14,250	$447,400	142%
Moorestown-Lenola, NJ	14,256	$384,900	108%
Carthage, MO	14,247	$84,800	54%
Highland Park, NJ	14,245	$353,000	91%
Lincoln, IL	14,253	$86,100	53%

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