The Most Affordable Neighborhoods in Belvidere, IL by Home Value

These days, finding an affordable place to live in the Belvidere area can be challenging. Home prices in Belvidere are now at a median cost of $204,933, lower than the Illinois average of $300,242.

The average cost of rent is $1,110/mo in Belvidere, primarily driven by the current value of real estate in the Belvidere area. In Belvidere, 24.05% of households rent, and 40.03% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Belvidere is $6,982 per month. Households that rent pay about 15.90% of their income on rent here. Belvidere’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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