Market Overview
Home Prices in Loami, IL
The median home value in Loami, IL is $207,872 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10.9% compared to a year ago and down 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Loami are priced49% below average. Loami is part of the Springfield, IL metro area.
Over the past five years, Loami home values have risen by approximately38.2%, reflecting strong long-term appreciation in this market.
Price History
Loami Home Price Trend
City Comparison
Loami vs. National Median
At $207,872, homes in Loami cost 49% below the national median of $410,000. This makes Loami a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Loami?
20% Down Payment
$41,574
on $207,872
Monthly P&I
$1,084/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,377/mo
incl. taxes & insurance
Income Needed
$55,080
gross annual (30% rule)
10% Down Option
$20,787
+ PMI applies
Loan Amount (20% dn)
$166,298
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 Loami, IL?
The median home value in Loami is $207,872 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10.9% year-over-year.
How much have home prices changed in Loami?
Over the past year, home values in Loami have increased by 10.9%. Over five years, prices have risen approximately 38.2%.
How much do I need to earn to buy a home in Loami?
To comfortably afford the median home price of $207,872 with a 20% down payment ($41,574) at today's rates (6.8%), you'd need a gross annual income of approximately $55,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Loami compare to the national average home price?
The national median home value is approximately $410,000. At $207,872, homes in Loami are 49% below the national average.
What metro area is Loami part of?
Loami is part of the Springfield, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.