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These days, finding an affordable place to live in the Manhattan area can be challenging. Home prices in Manhattan are now at a median cost of $353,096, higher than the Illinois average of $300,242.
The average cost of rent is $1,219/mo in Manhattan, primarily driven by the current value of real estate in the Manhattan area. In Manhattan, 9.63% of households rent, and 23.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Manhattan is $11,811 per month. Households that rent pay about 10.32% of their income on rent here. Manhattan’s most expensive areas are in the southeastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- New Lenox, IL: higher priced homes
- Elwood, IL: less expensive homes
- Wilton Center, IL: higher priced homes
- Frankfort, IL: higher priced homes
- Mokena, IL: higher priced homes
- Symerton, IL: equally priced homes
- Rockdale, IL: less expensive homes
- Lincoln Estates, IL: less expensive homes
- Joliet, IL: less expensive homes
- Frankfort Square, IL: less expensive homes
Cities with Similar Populations
- Warren, RI: higher priced homes
- Claiborne, LA: less expensive homes
- Clarkesville, GA: less expensive homes
- Clarksville, MD: higher priced homes
- Clawson, MI: less expensive homes
- Clay, AL: less expensive homes
- Clay, NY: less expensive homes
- Clearfield, PA: less expensive homes
- Clinton, CT: higher priced homes
- Clinton, SC: less expensive homes
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