Market Overview
Home Prices in Carmi, IL
The median home value in Carmi, IL is $99,792 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and down 6.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Carmi are priced76% below average.
Over the past five years, Carmi home values have fallen by approximately10.8%, reflecting softening conditions in this market.
Price History
Carmi Home Price Trend
2020
$110,304
$110K
—
2021
$111,835
$112K
+1.4%
2022
$111,935
$112K
+0.1%
2023
$105,488
$105K
-5.8%
2024
$102,839
$103K
-2.5%
2025
$96,080
$96K
-6.6%
2026
$99,792
$100K
+3.9%
City Comparison
Carmi vs. National Median
🏠 Carmi
$99,792
National Median
$410,000
At $99,792, homes in Carmi cost 76% below the national median of $410,000. This makes Carmi a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Carmi?
20% Down Payment
$19,958
on $99,792
Monthly P&I
$520/mo
30-yr @ 6.8%
Total Monthly Est.
~$660/mo
incl. taxes & insurance
Income Needed
$26,400
gross annual (30% rule)
10% Down Option
$9,979
+ PMI applies
Loan Amount (20% dn)
$79,834
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Carmi, IL?
The median home value in Carmi is $99,792 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Carmi?
Over the past year, home values in Carmi have increased by 3.9%. Over five years, prices have fallen approximately 10.8%.
How much do I need to earn to buy a home in Carmi?
To comfortably afford the median home price of $99,792 with a 20% down payment ($19,958) at today's rates (6.8%), you'd need a gross annual income of approximately $26,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Carmi compare to the national average home price?
The national median home value is approximately $410,000. At $99,792, homes in Carmi are 76% below the national average.