Market Overview
Home Prices in Pana, IL
The median home value in Pana, IL is $112,996 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 5.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pana are priced72% below average. Pana is part of the Taylorville, IL metro area.
Over the past five years, Pana home values have risen by approximately21.9%, reflecting strong long-term appreciation in this market.
Price History
Pana Home Price Trend
2020
$83,956
$84K
—
2021
$92,666
$93K
+10.4%
2022
$90,412
$90K
-2.4%
2023
$99,381
$99K
+9.9%
2024
$104,829
$105K
+5.5%
2025
$110,527
$111K
+5.4%
2026
$112,996
$113K
+2.2%
City Comparison
Pana vs. National Median
🏠 Pana
$112,996
National Median
$410,000
At $112,996, homes in Pana cost 72% below the national median of $410,000. This makes Pana a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Pana?
20% Down Payment
$22,599
on $112,996
Monthly P&I
$589/mo
30-yr @ 6.8%
Total Monthly Est.
~$748/mo
incl. taxes & insurance
Income Needed
$29,920
gross annual (30% rule)
10% Down Option
$11,300
+ PMI applies
Loan Amount (20% dn)
$90,397
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 Pana, IL?
The median home value in Pana is $112,996 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Pana?
Over the past year, home values in Pana have increased by 2.2%. Over five years, prices have risen approximately 21.9%.
How much do I need to earn to buy a home in Pana?
To comfortably afford the median home price of $112,996 with a 20% down payment ($22,599) at today's rates (6.8%), you'd need a gross annual income of approximately $29,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Pana compare to the national average home price?
The national median home value is approximately $410,000. At $112,996, homes in Pana are 72% below the national average.
What metro area is Pana part of?
Pana is part of the Taylorville, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.