Polo, Illinois Real Estate & Housing Market

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Polo Housing Information

Index	Polo	Illinois	National
Median home price	$85,800	$174,800	$184,700
Median rent asked	$675	$925	$949
Avg. people per household	2.5	2.6	2.6
Owner occupied households	74.4%	66.0%	63.6%
Renter occupied households	25.6%	34.0%	36.4%

Above, you will see a summary of real estate in Polo, IL. On average, homes in Polo, IL cost $85,800, a value that is 51% lower than the average in Illinois. In general terms, this results in Polo, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Polo, IL pay $675; this value is 27% lower than the average amount renters pay in Illinois. 74.4% of Polo, IL residents own their own homes and, on average, each of the homes has 2.5 occupants. Polo, 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 Polo, 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.

Polo Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Polo, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Polo, IL’s median home price stands at $85,800 while $41,389 is the value of the average household income. The resulting home price to income ratio, which is 2.1x, differs from the Illinois average as the ratio is 30% 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 Polo, 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 Polo, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Nelson, IL	132	$70,800	62%
Rock Falls, IL	9,104	$75,500	59%
Leaf River, IL	637	$80,000	57%
Lanark, IL	1,542	$82,200	55%
Sterling, IL	15,071	$83,900	55%
Polo, IL	2,131	$85,800	54%

Cities with similar population

City, State	Population	Home Price	National Avg.
Southmont, PA	2,131	$109,200	41%
Remsenburg-Speonk, NY	2,131	$603,600	227%
Pine Air, FL	2,131	$80,000	57%
Sag Harbor, NY	2,132	$941,500	410%
Polk City, FL	2,132	$75,400	59%
Polo, IL	2,131	$85,800	54%

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