Markets › Illinois
Illinois housing market
In the Prairie State, part of the Census Bureau's East North Central division, Pecan Street tracks eight markets. Median sale prices run from $156K in Decatur to $386K in Chicago over Jul–Sep 2026. All eight are higher than a year earlier, led by Bloomington (+8.1%).
Homes sit longest in Champaign (62 median days on market) and sell fastest in Peoria (36 days). The share of active listings with a price cut runs from 37% in Chicago to 53% in Bloomington. Price-to-rent ratios run from about 9 in Decatur to 15 in Champaign, measured as years of HUD Fair Market Rent per median sale price. Among the 385 U.S. metros Pecan Street tracks, the Springfield metro has the 4th-fewest median days on market and the Bloomington metro the 6th-highest share of listings with a price cut. Illinois's unemployment rate was 4.6% in Sep 2026 (BLS via FRED), above the national rate of 4.2%.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Bloomington | $271K | +8.1% | 38 | 53% | ≈ 13 |
| Champaign | $260K | +7.1% | 62 | 42% | ≈ 15 |
| Chicago | $386K | +5.8% | 37 | 37% | ≈ 12 |
| Decatur | $156K | +7.5% | 45 | 47% | ≈ 9 |
| Kankakee | $244K | +0.4% | 43 | 50% | ≈ 11 |
| Peoria | $185K | +4.1% | 36 | 48% | ≈ 10 |
| Rockford | $231K | +5.0% | 38 | 44% | ≈ 12 |
| Springfield | $212K | +3.6% | 36 | 52% | ≈ 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.