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These days, finding an affordable place to live in the Elmwood area can be challenging. Home prices in Elmwood are now at a median cost of $159,846, lower than the Illinois average of $300,242.
The average cost of rent is $736/mo in Elmwood, primarily driven by the current value of real estate in the Elmwood area. In Elmwood, 17.91% of households rent, and 39.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elmwood is $7,486 per month. Households that rent pay about 9.83% of their income on rent here. Elmwood’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Southport, IL: higher priced homes
- Yates City, IL: less expensive homes
- Uniontown, IL: equally priced homes
- Farmington, IL: less expensive homes
- Elba Center, IL: equally priced homes
- Oak Hill, IL: equally priced homes
- Brimfield, IL: higher priced homes
- Trivoli, IL: higher priced homes
- Middlegrove, IL: equally priced homes
- Hanna City, IL: higher priced homes
Cities with Similar Populations
- Atlanta, MI: equally priced homes
- Riddle, OR: higher priced homes
- Fisher, IL: higher priced homes
- Drew, MS: less expensive homes
- Broad Run, VA: higher priced homes
- Blasdell, NY: equally priced homes
- Black Earth, WI: higher priced homes
- North Zulch, TX: higher priced homes
- Otis, OR: higher priced homes
- Piermont, NY: higher priced homes
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