Market Overview
Home Prices in Glenwood, IL
The median home value in Glenwood, IL is $221,836 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.7% compared to a year ago and up 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Glenwood are priced46% below average. Glenwood is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Glenwood home values have risen by approximately35.5%, reflecting strong long-term appreciation in this market.
Price History
Glenwood Home Price Trend
City Comparison
Glenwood vs. National Median
At $221,836, homes in Glenwood cost 46% below the national median of $410,000. This makes Glenwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Glenwood?
20% Down Payment
$44,367
on $221,836
Monthly P&I
$1,157/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,469/mo
incl. taxes & insurance
Income Needed
$58,760
gross annual (30% rule)
10% Down Option
$22,184
+ PMI applies
Loan Amount (20% dn)
$177,469
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 Glenwood, IL?
The median home value in Glenwood is $221,836 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.7% year-over-year.
How much have home prices changed in Glenwood?
Over the past year, home values in Glenwood have increased by 6.7%. Over five years, prices have risen approximately 35.5%.
How much do I need to earn to buy a home in Glenwood?
To comfortably afford the median home price of $221,836 with a 20% down payment ($44,367) at today's rates (6.8%), you'd need a gross annual income of approximately $58,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Glenwood compare to the national average home price?
The national median home value is approximately $410,000. At $221,836, homes in Glenwood are 46% below the national average.
What metro area is Glenwood part of?
Glenwood is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.