Matteson, Illinois Real Estate & Housing Market

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Matteson Housing Information

Index	Matteson	Illinois	National
Median home price	$156,300	$174,800	$184,700
Median rent asked	$1,193	$925	$949
Avg. people per household	2.9	2.6	2.6
Owner occupied households	81.3%	66.0%	63.6%
Renter occupied households	18.7%	34.0%	36.4%

The above shows an overview of the real estate market in Matteson, IL. Note how the median home price for Matteson, IL runs $156,300, which is 11% lower than the average property price for Illinois. So you’re going to get real estate in Matteson, IL that is on-average more affordable than what you’ll find in the rest of Illinois. As for rent, the median for Matteson, IL runs $1,193, which is comparatively 29% higher than the average rent for Illinois. For Matteson, IL, about 81.3% of the population consist of home owners with about 2.9 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Matteson, IL offers a wide variety of real estate. To find your perfect home in Matteson, IL, filter your choice by price, location, and number of beds and baths using the search area above.

Matteson Home Affordability

When deciding where to purchase Matteson, IL real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Matteson, IL the median home price is $156,300 and $80,639 is the median household income. As a result, the home price to income ratio in Matteson, IL is 1.9x, which is 34% lower than the Illinois average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Matteson, IL the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Matteson, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Dixmoor, IL	3,614	$44,200	76%
Ford Heights, IL	2,775	$58,800	68%
Sauk Village, IL	10,541	$69,100	63%
Phoenix, IL	2,042	$71,600	61%
Robbins, IL	5,216	$72,500	61%
Matteson, IL	19,146	$156,300	15%

Cities with similar population

City, State	Population	Home Price	National Avg.
Milledgeville, GA	19,146	$112,400	39%
Bellwood, IL	19,146	$116,000	37%
Dixon, CA	19,144	$300,500	63%
Stillwater, MN	19,142	$248,400	34%
Horizon City, TX	19,142	$122,200	34%
Matteson, IL	19,146	$156,300	15%

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