Market Overview
Home Prices in Marengo, IL
The median home value in Marengo, IL is $362,666 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.9% compared to a year ago and up 4.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Marengo are priced12% below average. Marengo is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Marengo home values have risen by approximately45.7%, reflecting strong long-term appreciation in this market.
Price History
Marengo Home Price Trend
City Comparison
Marengo vs. National Median
At $362,666, homes in Marengo cost 12% below the national median of $410,000. This makes Marengo a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Marengo?
20% Down Payment
$72,533
on $362,666
Monthly P&I
$1,891/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,402/mo
incl. taxes & insurance
Income Needed
$96,080
gross annual (30% rule)
10% Down Option
$36,267
+ PMI applies
Loan Amount (20% dn)
$290,133
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 Marengo, IL?
The median home value in Marengo is $362,666 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.9% year-over-year.
How much have home prices changed in Marengo?
Over the past year, home values in Marengo have increased by 5.9%. Over five years, prices have risen approximately 45.7%.
How much do I need to earn to buy a home in Marengo?
To comfortably afford the median home price of $362,666 with a 20% down payment ($72,533) at today's rates (6.8%), you'd need a gross annual income of approximately $96,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Marengo compare to the national average home price?
The national median home value is approximately $410,000. At $362,666, homes in Marengo are 12% below the national average.
What metro area is Marengo part of?
Marengo is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.