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These days, finding an affordable place to live in the Lanark area can be challenging. Home prices in Lanark are now at a median cost of $181,078, lower than the Illinois average of $300,242.
The average cost of rent is $820/mo in Lanark, primarily driven by the current value of real estate in the Lanark area. In Lanark, 15.04% of households rent, and 52.20% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lanark is $6,588 per month. Households that rent pay about 12.44% of their income on rent here. Lanark’s most expensive areas are in the northern 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.
Nearby Cities
- Shannon, IL: higher priced homes
- Mount Carroll, IL: less expensive homes
- Chadwick, IL: less expensive homes
- Harper, IL: higher priced homes
- Daggett, IL: less expensive homes
- Pearl City, IL: equally priced homes
- Palsgrove, IL: equally priced homes
- Milledgeville, IL: less expensive homes
- Center Hill, IL: less expensive homes
- Florence, IL: higher priced homes
Cities with Similar Populations
- Bagley, MN: equally priced homes
- La Valle, WI: higher priced homes
- Trappe, MD: higher priced homes
- Fort Wingate, NM: less expensive homes
- Fairchance, PA: equally priced homes
- Elmore, OH: higher priced homes
- Dillonvale, OH: less expensive homes
- Dallas Center, IA: higher priced homes
- Crosslake, MN: higher priced homes
- Crosby, MN: higher priced homes
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