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These days, finding an affordable place to live in the Colchester area can be challenging. Home prices in Colchester are now at a median cost of $139,259, lower than the Illinois average of $300,242.
The average cost of rent is $677/mo in Colchester, primarily driven by the current value of real estate in the Colchester area. In Colchester, 17.90% of households rent, and 45.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Colchester is $6,295 per month. Households that rent pay about 10.76% of their income on rent here. Colchester’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Tennessee, IL: higher priced homes
- Fandon, IL: equally priced homes
- Macomb, IL: less expensive homes
- Colmar, IL: higher priced homes
- Sciota, IL: higher priced homes
- Fountain Green, IL: higher priced homes
- Blandinsville, IL: less expensive homes
- Plymouth, IL: less expensive homes
- Industry, IL: less expensive homes
- Good Hope, IL: equally priced homes
Cities with Similar Populations
- Worton, MD: higher priced homes
- Rock Port, MO: less expensive homes
- Pennsboro, WV: less expensive homes
- Romance, AR: higher priced homes
- Rosenhayn, NJ: higher priced homes
- Gibraltar, MI: higher priced homes
- Evadale, TX: equally priced homes
- Dolan Springs, AZ: equally priced homes
- Delbarton, WV: less expensive homes
- Delaware City, DE: higher priced homes
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