Markets › Illinois
Illinois housing market
In the Prairie State, part of the Census Bureau's East North Central division, Pecan Street tracks five markets. Median sale prices run from $185K in Peoria to $386K in Chicago as of Sep 2026. All five are higher than a year earlier, led by Bloomington (+8.1%).
Homes sit longest in Bloomington (38 median days on market) and sell fastest in Peoria (35 days). The share of active listings with a price cut runs from 36% in Chicago to 58% in Bloomington. Price-to-rent ratios run from about 10 in Peoria to 13 in Bloomington, measured as years of HUD Fair Market Rent per median sale price. Among the 195 U.S. metros Pecan Street tracks, the Bloomington metro has the 3rd-highest share of listings with a price cut and the Rockford metro the 4th-fewest median days on market. Illinois's unemployment rate was 4.7% in Aug 2026 (BLS via FRED). The national rate was 4.2% in Sep 2026.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Bloomington | $271K | +8.1% | 38 | 58% | ≈ 13 |
| Chicago | $386K | +5.8% | 36 | 36% | ≈ 12 |
| Peoria | $185K | +4.1% | 35 | 49% | ≈ 10 |
| Rockford | $231K | +5.0% | 35 | 48% | ≈ 12 |
| Springfield | $212K | +3.6% | 37 | 51% | ≈ 11 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Recent signals
No market signals flagged across this state right now.