Market Overview
Home Prices in Farmer City, IL
The median home value in Farmer City, IL is $171,925 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10.6% compared to a year ago and up 9.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Farmer City are priced58% below average. Farmer City is part of the Champaign-Urbana, IL metro area.
Over the past five years, Farmer City home values have risen by approximately50.3%, reflecting strong long-term appreciation in this market.
Price History
Farmer City Home Price Trend
City Comparison
Farmer City vs. National Median
At $171,925, homes in Farmer City cost 58% below the national median of $410,000. This makes Farmer City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Farmer City?
20% Down Payment
$34,385
on $171,925
Monthly P&I
$897/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,139/mo
incl. taxes & insurance
Income Needed
$45,560
gross annual (30% rule)
10% Down Option
$17,193
+ PMI applies
Loan Amount (20% dn)
$137,540
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 Farmer City, IL?
The median home value in Farmer City is $171,925 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10.6% year-over-year.
How much have home prices changed in Farmer City?
Over the past year, home values in Farmer City have increased by 10.6%. Over five years, prices have risen approximately 50.3%.
How much do I need to earn to buy a home in Farmer City?
To comfortably afford the median home price of $171,925 with a 20% down payment ($34,385) at today's rates (6.8%), you'd need a gross annual income of approximately $45,560. This assumes keeping total housing costs at or below 30% of gross income.
How does Farmer City compare to the national average home price?
The national median home value is approximately $410,000. At $171,925, homes in Farmer City are 58% below the national average.
What metro area is Farmer City part of?
Farmer City is part of the Champaign-Urbana, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.