The Most Affordable Neighborhoods in Water Valley, IL by Home Value

These days, finding an affordable place to live in the Water Valley area can be challenging. Home prices in Water Valley are now at a median cost of $122,275, lower than the Illinois average of $300,242.

The average cost of rent is $1,166/mo in Water Valley, primarily driven by the current value of real estate in the Water Valley area. In Water Valley, 10.06% of households rent, and 60.59% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Water Valley is $6,405 per month. Households that rent pay about 18.21% of their income on rent here. Water Valley’s most expensive areas are in the southern 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.

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