Lanark, IL housing market
The typical Lanark home is worth about $334,000, up 9.5% in a year, 12% above the Illinois typical home.
Home values, sales, trends and how Lanark compares with the towns next door — updated as new data is published.
Lanark at a glance
Typical home value, 2016–2026
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| January | Lanark | Illinois |
|---|---|---|
| 2017 | $188,000 | $181,000 |
| 2018 | $186,000 | $190,000 |
| 2019 | $190,000 | $195,000 |
| 2020 | $196,000 | $200,000 |
| 2021 | $214,000 | $215,000 |
| 2022 | $251,000 | $236,000 |
| 2023 | $273,000 | $248,000 |
| 2024 | $271,000 | $263,000 |
| 2025 | $300,000 | $278,000 |
| 2026 | $320,000 | $290,000 |
| August 2026 | $334,000 | $298,000 |
No new homes permitted in 2025
No permits for new homes were issued in Lanark in 2025. The last year with any was 2022 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lanark gained 47 residents while 1 new home was permitted: about 47 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 1 | 1 | 0 | $350,000 |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 1 | 1 | 0 | $65,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $300,000 |
| 2008 | 1 | 1 | 0 | $130,000 |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 1 | 1 | 0 | $133,000 |
| 2005 | 5 | 2 | 3 | $390,000 |
| 2004 | 3 | 3 | 0 | $605,000 |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 4 | 4 | 0 | $620,000 |
| 2001 | 1 | 1 | 0 | $205,000 |
| 2000 | 2 | 2 | 0 | $260,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
5.6 years of income
The typical Lanark home costs about 5.6 years of the town's median household income, more than across Illinois (3.6 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $920
HUD's Fair Market Rent for a two-bedroom in Lanark is $920 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lanark pay a median of $819, so moving in tends to cost more than staying put. A two-bedroom takes about 19% of the town's median household income.
Studio $750 · 4 bedrooms $1,460
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (61046; Carroll County, IL), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.