Market Overview
Home Prices in Ottawa, IL
The median home value in Ottawa, IL is $214,364 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.6% compared to a year ago and up 8.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ottawa are priced48% below average. Ottawa is part of the Ottawa, IL metro area.
Over the past five years, Ottawa home values have risen by approximately38.9%, reflecting strong long-term appreciation in this market.
Price History
Ottawa Home Price Trend
City Comparison
Ottawa vs. National Median
At $214,364, homes in Ottawa cost 48% below the national median of $410,000. This makes Ottawa a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ottawa?
20% Down Payment
$42,873
on $214,364
Monthly P&I
$1,118/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,420/mo
incl. taxes & insurance
Income Needed
$56,800
gross annual (30% rule)
10% Down Option
$21,436
+ PMI applies
Loan Amount (20% dn)
$171,491
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 Ottawa, IL?
The median home value in Ottawa is $214,364 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.6% year-over-year.
How much have home prices changed in Ottawa?
Over the past year, home values in Ottawa have increased by 6.6%. Over five years, prices have risen approximately 38.9%.
How much do I need to earn to buy a home in Ottawa?
To comfortably afford the median home price of $214,364 with a 20% down payment ($42,873) at today's rates (6.8%), you'd need a gross annual income of approximately $56,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Ottawa compare to the national average home price?
The national median home value is approximately $410,000. At $214,364, homes in Ottawa are 48% below the national average.
What metro area is Ottawa part of?
Ottawa is part of the Ottawa, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.