The Most Affordable Neighborhoods in Ridgway, IL by Home Value

These days, finding an affordable place to live in the Ridgway area can be challenging. Home prices in Ridgway are now at a median cost of $79,560, lower than the Illinois average of $300,242.

The average cost of rent is $559/mo in Ridgway, primarily driven by the current value of real estate in the Ridgway area. In Ridgway, 16.75% of households rent, and 56.29% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Ridgway is $4,829 per month. Households that rent pay about 11.58% of their income on rent here. Ridgway’s most expensive areas are in the southeastern regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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