Market Overview
Home Prices in Flanagan, IL
The median home value in Flanagan, IL is $164,680 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 18.5% compared to a year ago and up 3.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Flanagan are priced60% below average. Flanagan is part of the Pontiac, IL metro area.
Over the past five years, Flanagan home values have risen by approximately51.9%, reflecting strong long-term appreciation in this market.
Price History
Flanagan Home Price Trend
City Comparison
Flanagan vs. National Median
At $164,680, homes in Flanagan cost 60% below the national median of $410,000. This makes Flanagan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Flanagan?
20% Down Payment
$32,936
on $164,680
Monthly P&I
$859/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,091/mo
incl. taxes & insurance
Income Needed
$43,640
gross annual (30% rule)
10% Down Option
$16,468
+ PMI applies
Loan Amount (20% dn)
$131,744
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 Flanagan, IL?
The median home value in Flanagan is $164,680 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 18.5% year-over-year.
How much have home prices changed in Flanagan?
Over the past year, home values in Flanagan have increased by 18.5%. Over five years, prices have risen approximately 51.9%.
How much do I need to earn to buy a home in Flanagan?
To comfortably afford the median home price of $164,680 with a 20% down payment ($32,936) at today's rates (6.8%), you'd need a gross annual income of approximately $43,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Flanagan compare to the national average home price?
The national median home value is approximately $410,000. At $164,680, homes in Flanagan are 60% below the national average.
What metro area is Flanagan part of?
Flanagan is part of the Pontiac, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.