Market Overview
Home Prices in Monmouth, IL
The median home value in Monmouth, IL is $108,501 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% 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 Monmouth are priced74% below average.
Over the past five years, Monmouth home values have risen by approximately19.6%, reflecting steady appreciation in this market.
Price History
Monmouth Home Price Trend
2020
$91,513
$92K
—
2021
$90,744
$91K
-0.8%
2022
$95,298
$95K
+5.0%
2023
$101,148
$101K
+6.1%
2024
$105,689
$106K
+4.5%
2025
$108,766
$109K
+2.9%
2026
$108,501
$109K
-0.2%
City Comparison
Monmouth vs. National Median
🏠 Monmouth
$108,501
National Median
$410,000
At $108,501, homes in Monmouth cost 74% below the national median of $410,000. This makes Monmouth a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Monmouth?
20% Down Payment
$21,700
on $108,501
Monthly P&I
$566/mo
30-yr @ 6.8%
Total Monthly Est.
~$719/mo
incl. taxes & insurance
Income Needed
$28,760
gross annual (30% rule)
10% Down Option
$10,850
+ PMI applies
Loan Amount (20% dn)
$86,801
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 Monmouth, IL?
The median home value in Monmouth is $108,501 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Monmouth?
Over the past year, home values in Monmouth have decreased by 0.2%. Over five years, prices have risen approximately 19.6%.
How much do I need to earn to buy a home in Monmouth?
To comfortably afford the median home price of $108,501 with a 20% down payment ($21,700) at today's rates (6.8%), you'd need a gross annual income of approximately $28,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Monmouth compare to the national average home price?
The national median home value is approximately $410,000. At $108,501, homes in Monmouth are 74% below the national average.