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These days, finding an affordable place to live in the Shannon area can be challenging. Home prices in Shannon are now at a median cost of $211,088, lower than the Illinois average of $300,242.
The average cost of rent is $664/mo in Shannon, primarily driven by the current value of real estate in the Shannon area. In Shannon, 9.99% of households rent, and 46.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Shannon is $6,775 per month. Households that rent pay about 9.80% of their income on rent here. Shannon’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Harper, IL: higher priced homes
- Lanark, IL: less expensive homes
- Florence, IL: equally priced homes
- Pearl City, IL: less expensive homes
- Baileyville, IL: equally priced homes
- Forreston, IL: less expensive homes
- Haldane, IL: higher priced homes
- Freeport, IL: less expensive homes
- Eleroy, IL: equally priced homes
- Mount Carroll, IL: less expensive homes
Cities with Similar Populations
- Bingham Farms, MI: higher priced homes
- Virginia City, NV: higher priced homes
- Victor, IA: less expensive homes
- Warfield, KY: less expensive homes
- Burnett, WI: higher priced homes
- Wayne, ME: higher priced homes
- Buffalo, IA: higher priced homes
- Browntown, WI: higher priced homes
- Braymer, MO: less expensive homes
- West Layton, UT: higher priced homes
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