Machesney Park, Illinois Real Estate & Housing Market

Machesney Park, IL Listings

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Machesney Park Housing Information

Index	Machesney Park	Illinois	National
Median home price	$116,000	$174,800	$184,700
Median rent asked	$875	$925	$949
Avg. people per household	2.7	2.6	2.6
Owner occupied households	77.3%	66.0%	63.6%
Renter occupied households	22.7%	34.0%	36.4%

Above is a snapshot look at the real estate market in Machesney Park, IL. In Machesney Park, IL, the median house price is $116,000, making the price 34% lower than that the average for Illinois. Therefore, the affordability of Machesney Park, IL area real estate is more affordable than the real estate in other areas of Illinois. In addition, Machesney Park, IL has a median rent price of $875; this price is 5% lower than that the average rental price for Illinois. 77.3% of residents in Machesney Park, IL are homeowners, and the average amount of people who reside in each home is 2.7. Machesney Park, IL has a wide array of real estate options available, ranging from cost-friendly condos to high-end luxury homes. We filter listings by number of bathrooms and bedrooms, price and area to simplify the search process for Machesney Park, IL real estate for sale.

Machesney Park Home Affordability

When looking for real estate in Machesney Park, IL, nothing is more important than affordability. There are several methods to calculate the affordability of a home, but perhaps the best way is the home price to median household income ratio. In Machesney Park, IL, the median price of a home is $116,000 and $56,563 is the median household income. This means that the home price to income ratio is 2.1x, a ratio that is 31% lower than the average in Illinois. The median home price is divided by the median home income to calculate the home affordability ratio. Homes in Machesney Park, IL will be more financially accessable if the ratio has a lower than average home price to home income. These are not the only aspects to look at when determining the affordability of a home. A home affordability calculator offers a much more exact overview of the true affordability of a property. Use the calculator below to better determine how much you can pay for real estate in Machesney Park, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Beloit, WI	36,812	$85,000	54%
Rockford, IL	149,597	$91,400	51%
New Milford, IL	644	$101,700	45%
Belvidere, IL	25,300	$103,300	44%
Capron, IL	1,868	$105,900	43%
Machesney Park, IL	23,002	$116,000	37%

Cities with similar population

City, State	Population	Home Price	National Avg.
Westchase, FL	22,999	$313,700	70%
Lisle, IL	22,989	$334,400	81%
West Springfield, VA	23,028	$444,300	141%
Auburn, ME	22,943	$152,200	18%
Crestview, FL	22,941	$161,200	13%
Machesney Park, IL	23,002	$116,000	37%

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