Market Overview
Home Prices in Cornell, IL
The median home value in Cornell, IL is $177,550 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 13.7% compared to a year ago and up 5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cornell are priced57% below average. Cornell is part of the Pontiac, IL metro area.
Over the past five years, Cornell home values have risen by approximately47.5%, reflecting strong long-term appreciation in this market.
Price History
Cornell Home Price Trend
City Comparison
Cornell vs. National Median
At $177,550, homes in Cornell cost 57% below the national median of $410,000. This makes Cornell a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cornell?
20% Down Payment
$35,510
on $177,550
Monthly P&I
$926/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,176/mo
incl. taxes & insurance
Income Needed
$47,040
gross annual (30% rule)
10% Down Option
$17,755
+ PMI applies
Loan Amount (20% dn)
$142,040
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 Cornell, IL?
The median home value in Cornell is $177,550 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 13.7% year-over-year.
How much have home prices changed in Cornell?
Over the past year, home values in Cornell have increased by 13.7%. Over five years, prices have risen approximately 47.5%.
How much do I need to earn to buy a home in Cornell?
To comfortably afford the median home price of $177,550 with a 20% down payment ($35,510) at today's rates (6.8%), you'd need a gross annual income of approximately $47,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Cornell compare to the national average home price?
The national median home value is approximately $410,000. At $177,550, homes in Cornell are 57% below the national average.
What metro area is Cornell part of?
Cornell is part of the Pontiac, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.