Market Overview
Home Prices in Phoenix, IL
The median home value in Phoenix, IL is $99,970 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 8.8% compared to a year ago and down 16.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Phoenix are priced76% below average. Phoenix is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Phoenix home values have fallen by approximately4.2%, reflecting softening conditions in this market.
Price History
Phoenix Home Price Trend
City Comparison
Phoenix vs. National Median
At $99,970, homes in Phoenix cost 76% below the national median of $410,000. This makes Phoenix a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Phoenix?
20% Down Payment
$19,994
on $99,970
Monthly P&I
$521/mo
30-yr @ 6.8%
Total Monthly Est.
~$662/mo
incl. taxes & insurance
Income Needed
$26,480
gross annual (30% rule)
10% Down Option
$9,997
+ PMI applies
Loan Amount (20% dn)
$79,976
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 Phoenix, IL?
The median home value in Phoenix is $99,970 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 8.8% year-over-year.
How much have home prices changed in Phoenix?
Over the past year, home values in Phoenix have decreased by 8.8%. Over five years, prices have fallen approximately 4.2%.
How much do I need to earn to buy a home in Phoenix?
To comfortably afford the median home price of $99,970 with a 20% down payment ($19,994) at today's rates (6.8%), you'd need a gross annual income of approximately $26,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Phoenix compare to the national average home price?
The national median home value is approximately $410,000. At $99,970, homes in Phoenix are 76% below the national average.
What metro area is Phoenix part of?
Phoenix is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.