Freeport, IL Housing Market
AI-powered market intelligence for the Freeport, IL metro area.
PropertyIQ Scores
Freeport, IL Market Analysis
Market Overview
Freeport, IL has a PropertyIQ Score of 87 out of 100, placing it in a strong position relative to typical market conditions. The score is supported by a 12-month home value momentum of 15.31%, a median days-on-market figure of 46 days, and a 3-month home value momentum of 0.44%. The share of listings with a price cut is 23.6%, which tempers the strength and points to a market where sellers still hold advantages but buyers are not without leverage.
Against Illinois benchmarks, Freeport stands out for affordability. The median home value is $162,599, compared with the state average of $297,573. The rent index is $946, while the state average is $1,227. Median household income in Freeport is $61,943, below the state average of $81,702. The unemployment rate matches the state average at 4.9%. With homes for sale at 122, the market is relatively small and can move quickly when conditions shift.
The relationship between local prices and incomes is more favorable than the state benchmark. Freeport’s median home value is about 45% lower than the state median, while median household income is about 24% lower. That means housing costs relative to income are lower in Freeport than the state average, an important cushion for local buyers.
Key Trends
The first trend is rapid annual appreciation with recent cooling. The 12-month home value momentum is 15.31%, and the data reports a year-over-year home value change of $11. However, the 3-month momentum is just 0.44%, a much slower pace. This gap suggests that while prices have appreciated strongly over the past year, the most recent quarter has been much flatter.
The second trend is a moderately paced market with some seller concessions. Median days on market is 46 days, which is a relatively efficient sales pace. At the same time, 23.6% of listings have had a price cut. That combination indicates homes are selling, but a meaningful share of sellers are adjusting prices to attract buyers, which can create opportunities for negotiation.
The third trend is a clear affordability advantage over the state. Freeport’s median home value of $162,599 is well below the state average of $297,573, and its rent index of $946 is below the state average of $1,227. Even accounting for lower median household income of $61,943 versus $81,702, the local price-to-income ratio is roughly 2.6, compared with about 3.6 at the state level. This means the typical Freeport home is more attainable relative to local earnings.
The fourth trend is stable employment with a missing demographic data point. The unemployment rate is 4.9%, identical to the state average, which suggests the local labor market is keeping pace with the state. Population growth is listed as N/A, so the data does not provide a clear read on whether the local population is expanding or contracting.
Who Is This Market For
Freeport is well suited to first-time buyers. The median home value of $162,599 is far below the state median of $297,573, and the lower price-to-income ratio means local incomes stretch further. A buyer earning around the median household income of $61,943 can access a home price that is much closer to an affordable multiple of income than in many higher-priced parts of Illinois.
The market also has appeal for buy-and-hold investors. The rent index of $946 against a median home value of $162,599 implies a gross annual rental yield of about 7.0% before expenses. That is a meaningful income-oriented return compared with higher-priced markets where rent-to-price ratios are often lower. Investors should still account for the 23.6% share of listings with price cuts and a median days on market of 46 days when underwriting resale or lease-up time.
Move-up buyers may also find value, particularly those seeking more home for the dollar than the state average offers. However, incomes in Freeport are lower than the state average, so buyers moving from higher-income areas may have an advantage, while local households may feel income constraints despite the lower home prices.
Outlook
The near-term outlook points to a strong but cooling market. The 12-month home value momentum of 15.31% shows substantial recent appreciation, but the 3-month momentum of 0.44% and the 23.6% price-cut share suggest price growth is moderating. Median days on market at 46 days remains solid, so demand has not disappeared, but sellers may need to be more realistic on pricing than they were earlier in the year.
Affordability and stable unemployment provide a foundation for continued activity. The median home value remains well below the state average, and the rent index supports investor interest. The main unknown is population growth, which is listed as N/A. Without that data, long-term demand trends are harder to assess. Based on the available numbers, Freeport is likely to remain an affordable, moderately active market with slower price growth in the near term than the strong 12-month pace would suggest.
AI-generated analysis based on current market data. Last updated September 27, 2026.
Get Freeport, IL market updates
Choose your role for tailored insights.
Freeport, IL market data
Freeport, IL Housing Market Overview
Freeport, IL's median home value is $163K, up 15.3% over the past year. Homes here sell in a median 46 days. Its PropertyIQ Score of 87 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
PropertyIQ tracks the Freeport, 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, Freeport, IL's PropertyIQ Score of 87 ranks among the Midwest's stronger demand signals.
The PropertyIQ Score for the Freeport, 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 15.3% over the past year.
Use PropertyIQ's interactive analytics to compare Freeport, 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 Freeport, IL metro area
ZIP codes in the Freeport, IL metro area
View all 13 →Top markets in IL
Market data through August 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 Freeport, 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. Freeport, IL currently scores 87, a 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 $163K, up 15.3% over the past year. So whether Freeport, 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 Freeport, IL?
Freeport, IL's PropertyIQ Score is 87, indicating 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 87 places Freeport, IL above its state benchmark.
Are home prices in Freeport, IL rising or falling?
Home prices in Freeport, IL are rising. Over the past year, the median home value increased 15.3%, reaching $163K. Over the latest three months, values moved up 0.4%, 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 Freeport, 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 Freeport, IL?
In Freeport, IL, homes sell in a median of 46 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 24% 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 Freeport, IL market data is refreshed on a monthly cycle, with the latest figures current through August 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.