Market Overview
Home Prices in Lacon, IL
The median home value in Lacon, IL is $146,190 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.6% compared to a year ago and up 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lacon are priced64% below average. Lacon is part of the Peoria, IL metro area.
Over the past five years, Lacon home values have risen by approximately37.5%, reflecting strong long-term appreciation in this market.
Price History
Lacon Home Price Trend
2020
$94,256
$94K
—
2021
$106,297
$106K
+12.8%
2022
$114,802
$115K
+8.0%
2023
$123,668
$124K
+7.7%
2024
$128,760
$129K
+4.1%
2025
$134,674
$135K
+4.6%
2026
$146,190
$146K
+8.6%
City Comparison
Lacon vs. National Median
🏠 Lacon
$146,190
National Median
$410,000
At $146,190, homes in Lacon cost 64% below the national median of $410,000. This makes Lacon a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lacon?
20% Down Payment
$29,238
on $146,190
Monthly P&I
$762/mo
30-yr @ 6.8%
Total Monthly Est.
~$968/mo
incl. taxes & insurance
Income Needed
$38,720
gross annual (30% rule)
10% Down Option
$14,619
+ PMI applies
Loan Amount (20% dn)
$116,952
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 Lacon, IL?
The median home value in Lacon is $146,190 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.6% year-over-year.
How much have home prices changed in Lacon?
Over the past year, home values in Lacon have increased by 8.6%. Over five years, prices have risen approximately 37.5%.
How much do I need to earn to buy a home in Lacon?
To comfortably afford the median home price of $146,190 with a 20% down payment ($29,238) at today's rates (6.8%), you'd need a gross annual income of approximately $38,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Lacon compare to the national average home price?
The national median home value is approximately $410,000. At $146,190, homes in Lacon are 64% below the national average.
What metro area is Lacon part of?
Lacon is part of the Peoria, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.