Colchester, IL
Full City Profile · Illinois · McDonough County County
3.8
/5.0
B+
Good
1,057
Population
919/sq mi density
$62,500
Median Income
$31,944 per capita
$86,500
Home Value
$106,592 Zillow
$808
Median Rent
39.7% income on rent
51°F
Avg Temperature
B+
Overall
3.8 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$62,500 median income, 4.4% unemployment
A+
Affordability
5.0 / 5.0
$86,500 home value, $808/mo rent
C
Education
2.5 / 5.0
18.7% bachelor's degree or higher
Housing Overview
Median Home Value
$86,500
69% below
US avg: $281,900
Median Rent
$808/mo
31% below
US avg: $1,163/mo
Homeownership Rate
73.6%
13% above US avg (65.4%)
Total Housing Units
610
Median year built: 1960
Home Value by Source
Census Median
$86,500
Zillow (ZHVI)
$106,592
Redfin Median Sale
$89,000
Median Sale Price
$89,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
73.6%
Owner-Occupied
26.4%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$774/mo
1 Bedroom
$854/mo
2 Bedroom
$1,063/mo
3 Bedroom
$1,370/mo
4 Bedroom
$1,561/mo
Census median rent:
$808/mo
Market Indicators (Redfin)
Median Sale Price
$89,000
Median Days on Market
17 days
Sale-to-List Ratio
0.9%
Buyers market
Homes Sold
1
Price Drops
66.7%
of listings with price reduction
Price Per Sq Ft
$75
Active Inventory
3
homes for sale
Affordability & Housing Stock
Rent Burden
39.7%
of renters spending 30%+ of income on housing
28% above US avg (31.0%)
Median Year Built
1960
Average age of housing stock: 66 years
Homeownership Rate
73.6%
Complete Housing Data
Home Values
| Census Median Value | $86,500 |
| Zillow Home Value (ZHVI) | $106,592 |
| Redfin Median Sale | $89,000 |
| Median Sale Price | $89,000 |
| Price Per Sq Ft | $75 |
Rent
| Census Median Rent | $808 |
| FMR Studio | $774 |
| FMR 1-Bedroom | $854 |
| FMR 2-Bedroom | $1,063 |
| FMR 3-Bedroom | $1,370 |
| FMR 4-Bedroom | $1,561 |
Market
| Days on Market | 17 |
| Sale-to-List Ratio | 0.9% |
| Price Drops | 66.7% |
| Homes Sold | 1 |
| Active Inventory | 3 |
| Price Per Sq Ft | $75 |
Ownership & Stock
| Owner-Occupied | 73.6% |
| Renter-Occupied | 26.4% |
| Homeownership Rate | 73.6% |
| Total Housing Units | 610 |
| Median Year Built | 1960 |
| Rent Burden | 39.7% |