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McHenry Times

Wednesday, November 27, 2024

Analysis: Wages not keeping pace with median home prices in McHenry County

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Rising home prices are outpacing wage growth in McHenry County and six other Illinois counties, according to an analysis of 432 counties nationwide by ATTOM Data Solutions in the second quarter.

Wages rose 1.2 percent in McHenry County since last year. During the same period, median home prices in the county rose 2.9 percent.

Eight other Illinois counties saw wages outpace median home prices. 

Home prices and wages in Illinois counties 

CountyQ2 2018 Median Sales PriceYoY Median Home Price GrowthAnnualized Weekly WagesYoY Annualized Wage GrowthPrices Outpacing Annualized Wages?
Tazewell$124,9000.1%$52,000-11.0%YES
Kendall$215,0002.7%$39,7282.3%YES
Peoria$124,00012.7%$53,2614.3%YES
Mchenry$210,0002.9%$44,5121.2%YES
De Kalb$162,5002.8%$41,8082.8%YES
Rock Island$104,00013.0%$56,8885.6%YES
Will$214,0003.8%$46,9560.7%YES
Saint Clair$125,0000.0%$42,5232.9%NO
Madison$116,5001.3%$42,2631.4%NO
Kane$220,000-0.5%$48,6072.9%NO
Winnebago$103,000-1.6%$46,2414.6%NO
Du Page$273,0000.2%$62,7122.9%NO
Lake$248,000-1.4%$73,1123.2%NO
Cook$235,0001.5%$64,7923.1%NO
Champaign$143,250-2.6%$46,7091.0%NO
Source: ATTOM Data Solutions

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