Market Overview
Home Prices in Dewey, IL
The median home value in Dewey, IL is $370,783 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10.4% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Dewey are priced10% below average. Dewey is part of the Champaign-Urbana, IL metro area.
Over the past five years, Dewey home values have risen by approximately24.7%, reflecting strong long-term appreciation in this market.
Price History
Dewey Home Price Trend
City Comparison
Dewey vs. National Median
At $370,783, homes in Dewey cost 10% below the national median of $410,000. This makes Dewey a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Dewey?
20% Down Payment
$74,157
on $370,783
Monthly P&I
$1,934/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,456/mo
incl. taxes & insurance
Income Needed
$98,240
gross annual (30% rule)
10% Down Option
$37,078
+ PMI applies
Loan Amount (20% dn)
$296,626
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 Dewey, IL?
The median home value in Dewey is $370,783 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10.4% year-over-year.
How much have home prices changed in Dewey?
Over the past year, home values in Dewey have increased by 10.4%. Over five years, prices have risen approximately 24.7%.
How much do I need to earn to buy a home in Dewey?
To comfortably afford the median home price of $370,783 with a 20% down payment ($74,157) at today's rates (6.8%), you'd need a gross annual income of approximately $98,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Dewey compare to the national average home price?
The national median home value is approximately $410,000. At $370,783, homes in Dewey are 10% below the national average.
What metro area is Dewey part of?
Dewey is part of the Champaign-Urbana, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.