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Affordable
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These days, finding an affordable place to live in the Elco area can be challenging. Home prices in Elco are now at a median cost of $129,339, lower than the Illinois average of $300,242.
The average cost of rent is $744/mo in Elco, primarily driven by the current value of real estate in the Elco area. In Elco, 10.86% of households rent, and 55.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elco is $6,570 per month. Households that rent pay about 11.32% of their income on rent here. Elco’s most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Mill Creek, IL: equally priced homes
- Tamms, IL: less expensive homes
- Reynoldsville, IL: equally priced homes
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- Wetaug, IL: less expensive homes
- Gale, IL: equally priced homes
- Pulaski, IL: less expensive homes
- McClure, IL: less expensive homes
- Dongola, IL: less expensive homes
- Balcom, IL: equally priced homes
Cities with Similar Populations
- Sunkist, OK: equally priced homes
- Dixboro, MI: higher priced homes
- Dos Cabezas, AZ: equally priced homes
- Double Branches, GA: higher priced homes
- Egypt Mills, MO: higher priced homes
- St. Philip, IN: higher priced homes
- Stark, MO: higher priced homes
- State Line, IN: higher priced homes
- Streeter, WV: higher priced homes
- Success, AR: less expensive homes
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