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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



O'Fallon, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

O'Fallon, IL Housing Market Trends

With a population of 32,140, 12,093 total housing units (homes and apartments), and a median house value of $359,820, O'Fallon real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in O'Fallon, accounting for 72.14% of the city's housing units. Other types of housing that are prevalent in O'Fallon include large apartment complexes or high rise apartments ( 13.87%), row houses and other attached homes ( 5.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in O'Fallon. Owner-occupied housing accounts for 72.94% of O'Fallon's homes, and 61.64% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in O'Fallon built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in O'Fallon built between 2000 and later ( 39.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.28%). There's also some housing in O'Fallon built before 1939 ( 4.87%).

O'Fallon Home Appreciation Rates

O'Fallon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in O'Fallon during the period has been just 5.40%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, O'Fallon's appreciation rate, at 7.33%, has been at or slightly above the national average. In the latest quarter, O'Fallon's appreciation rate has been 1.09%, which annualizes to a rate of 4.45%.

Relative to Illinois, our data show that O'Fallon's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within O'Fallon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in O'Fallon - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best O'Fallon real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$359,820

O'Fallon, IL Home Prices
> $1,395,000
$1,046,001 - $1,395,000
$697,001 - $1,046,000
$558,001 - $697,000
$418,001 - $558,000
$279,001 - $418,000
$140,001 - $279,000
$69,001 - $140,000
$0 - $69,000
0.2%
0.2%
0.7%
0.7%
3.0%
3.0%
5.5%
5.5%
23.5%
23.5%
32.3%
32.3%
25.5%
25.5%
5.5%
5.5%
3.8%
3.8%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

12,093

O'Fallon Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,897 / per month

Homeownership Rate

Owners
Renters
72.9%
72.9%
27.1%
27.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.9%
5.9%
94.1%
94.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
39.5%
39.5%
44.4%
44.4%
11.3%
11.3%
4.9%
4.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.1%
72.1%
5.7%
5.7%
5.3%
5.3%
13.9%
13.9%
2.9%
2.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.3%
3.3%
6.7%
6.7%
18.3%
18.3%
29.9%
29.9%
31.8%
31.8%
10.0%
10.0%
0% 100.0%
% of Homes