Charleston, IL Housing Market
AI-powered market intelligence for the Charleston-Mattoon, IL metro area.
PropertyIQ Scores
Charleston, IL Market Analysis
Market Overview
Charleston, IL posts a PropertyIQ Score of 98 out of 100, a strong reading. The score is driven by home value momentum of 12.92% over 12 months and 3.62% over 3 months, along with a median days on market of 39 days and a price-cut share of 16.1%. These metrics suggest a market where homes are selling at a solid pace and sellers are not making frequent reductions. Inventory is also limited at 65 homes for sale, which can support competitive conditions.
Compared with state benchmarks, Charleston is much more affordable. The median home value is $154,227, well below the state average of $299,900. The rent index is $763, compared with $1,227 statewide. Median household income is $56,040, below the state average of $81,702, but the housing price gap is larger than the income gap. Unemployment is 5.1%, exactly matching the state average. Population growth is not available, so the demand picture lacks a demographic growth indicator.
Key Trends
One clear trend is strong home value momentum. The 12-month momentum of 12.92% and the 3-month momentum of 3.62% are top score drivers, indicating that home values have been rising over the past year and continue to move higher in the short term. The provided year-over-year home value change is listed as $-3, which is a separate reported figure; both are included here as supplied.
Another trend is tight market conditions. With a median days on market of 39 days and only 65 homes for sale, buyers face a relatively small pool of active listings. The share of listings with a price cut is 16.1%, meaning fewer than one in five listings has reduced its asking price. This points to seller-friendly conditions and steady demand.
Affordability and rental value are also notable. Charleston’s median home value of $154,227 is about half the state average of $299,900, and its rent index of $763 is far below the state average of $1,227. Although median household income of $56,040 is also below the state average of $81,702, the local home value-to-income ratio is lower than the state’s. Using the provided rent index, annual rent is $9,156, and the local price-to-rent ratio is about 16.8, compared with a state-level ratio of about 20.4. This means housing costs are relatively affordable, and rental properties may generate more rent per dollar of value than the state average, even though absolute rents are modest.
Who Is This Market For
Charleston is well suited to first-time buyers and budget-conscious households. The median home value of $154,227 is substantially below the state average of $299,900, and the local median household income of $56,040 makes the entry point more attainable. Buyers should be ready to move quickly because the median days on market is 39, but the lower price point may still support first-time ownership.
The market also fits buy-and-hold investors. The rent index of $763 is modest in absolute terms, but the price-to-rent ratio of about 16.8 is more favorable than the state-level ratio of about 20.4. A low price-cut share of 16.1% and limited inventory of 65 homes for sale suggest that well-priced properties are not sitting with repeated reductions. Investors should, however, underwrite for relatively low monthly rent.
Move-up buyers may find an affordable but competitive environment. The limited inventory can constrain choices, and the low price-cut share suggests sellers have negotiating power. Still, home values remain well below state benchmarks, which may allow move-up buyers to purchase more home without reaching state-level price points. The market is less suited to luxury or high-end strategies, given the median home value is far below the state average.
Outlook
The near-term outlook for Charleston is supported by strong momentum and tight conditions. The 12-month home value momentum of 12.92% and the 3-month momentum of 3.62% indicate upward price pressure, while the median days on market of 39 and the 16.1% price-cut share point to steady demand. With only 65 homes for sale, limited inventory is likely to keep competition firm in the near term. However, the listed year-over-year home value change of $-3 adds caution, and the absence of population growth data makes it difficult to assess longer-term demand. Unemployment at 5.1% matches the state average, providing labor-market stability but not a clear growth advantage. If current momentum and low inventory persist, Charleston is positioned for continued near-term strength, while longer-term demand remains less certain without more demographic data.
AI-generated analysis based on current market data. Last updated August 23, 2026.
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Charleston, IL market data
Charleston, IL Housing Market Overview
Charleston, IL's median home value is $154K, up 12.9% over the past year. Homes here sell in a median 39 days. Its PropertyIQ Score of 98 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
PropertyIQ tracks the Charleston, IL housing market through two complementary lenses: price momentum from Zillow home-value trends over 3 and 12 months, and demand pressure from how quickly homes sell and how often sellers cut prices, drawn from Realtor.com. The PropertyIQ Score distills these into one number that predicts how this IL market is set to perform against its state benchmark.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Charleston, IL's PropertyIQ Score of 98 ranks among the Midwest's stronger demand signals.
The PropertyIQ Score for the Charleston, IL market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 12.9% over the past year.
Use PropertyIQ's interactive analytics to compare Charleston, IL against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Charleston, IL metro area
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Charleston, IL a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Charleston, IL currently scores 98, a very strong-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $154K, up 12.9% over the past year. So whether Charleston, IL is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Charleston, IL?
Charleston, IL's PropertyIQ Score is 98, indicating very strong momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 98 places Charleston, IL above its state benchmark.
Are home prices in Charleston, IL rising or falling?
Home prices in Charleston, IL are rising. Over the past year, the median home value increased 12.9%, reaching $154K. Over the latest three months, values moved up 3.6%, a sign near-term demand remains firm. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Charleston, IL's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Charleston, IL?
In Charleston, IL, homes sell in a median of 39 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 16% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Charleston, IL market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.