Market Overview
Home Prices in Manhattan, IL
The median home value in Manhattan, IL is $400,688 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.8% compared to a year ago and up 2.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Manhattan are priced2% below average. Manhattan is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Manhattan home values have risen by approximately31.2%, reflecting strong long-term appreciation in this market.
Price History
Manhattan Home Price Trend
City Comparison
Manhattan vs. National Median
At $400,688, homes in Manhattan cost 2% below the national median of $410,000. This makes Manhattan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Manhattan?
20% Down Payment
$80,138
on $400,688
Monthly P&I
$2,090/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,654/mo
incl. taxes & insurance
Income Needed
$106,160
gross annual (30% rule)
10% Down Option
$40,069
+ PMI applies
Loan Amount (20% dn)
$320,550
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 Manhattan, IL?
The median home value in Manhattan is $400,688 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.8% year-over-year.
How much have home prices changed in Manhattan?
Over the past year, home values in Manhattan have increased by 2.8%. Over five years, prices have risen approximately 31.2%.
How much do I need to earn to buy a home in Manhattan?
To comfortably afford the median home price of $400,688 with a 20% down payment ($80,138) at today's rates (6.8%), you'd need a gross annual income of approximately $106,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Manhattan compare to the national average home price?
The national median home value is approximately $410,000. At $400,688, homes in Manhattan are 2% below the national average.
What metro area is Manhattan part of?
Manhattan is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.