Market Overview
Home Prices in Mount Carmel, IL
The median home value in Mount Carmel, IL is $121,591 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.2% compared to a year ago and up 15.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mount Carmel are priced70% below average.
Over the past five years, Mount Carmel home values have risen by approximately4.3%, reflecting modest growth in this market.
Price History
Mount Carmel Home Price Trend
2020
$113,565
$114K
—
2021
$116,546
$117K
+2.6%
2022
$133,339
$133K
+14.4%
2023
$136,070
$136K
+2.0%
2024
$106,188
$106K
-22.0%
2025
$123,086
$123K
+15.9%
2026
$121,591
$122K
-1.2%
City Comparison
Mount Carmel vs. National Median
🏠 Mount Carmel
$121,591
National Median
$410,000
At $121,591, homes in Mount Carmel cost 70% below the national median of $410,000. This makes Mount Carmel a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Mount Carmel?
20% Down Payment
$24,318
on $121,591
Monthly P&I
$634/mo
30-yr @ 6.8%
Total Monthly Est.
~$805/mo
incl. taxes & insurance
Income Needed
$32,200
gross annual (30% rule)
10% Down Option
$12,159
+ PMI applies
Loan Amount (20% dn)
$97,273
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 Mount Carmel, IL?
The median home value in Mount Carmel is $121,591 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.2% year-over-year.
How much have home prices changed in Mount Carmel?
Over the past year, home values in Mount Carmel have decreased by 1.2%. Over five years, prices have risen approximately 4.3%.
How much do I need to earn to buy a home in Mount Carmel?
To comfortably afford the median home price of $121,591 with a 20% down payment ($24,318) at today's rates (6.8%), you'd need a gross annual income of approximately $32,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Mount Carmel compare to the national average home price?
The national median home value is approximately $410,000. At $121,591, homes in Mount Carmel are 70% below the national average.