Manhattan, IL housing market
Homes typically sell in 57 days, close to asking.
Home values, sales, trends and how Manhattan compares with the towns next door — updated as new data is published.
Manhattan at a glance
A seller's market
Supply is tight — about 2.7 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Home prices up 48% in 5 years
The federal house price index for the ZIP code around Manhattan rose 48% over the past 5 years, about the same as across Illinois. Last year prices rose 4.2%. Carrying the Census median home value forward with that index puts the typical Manhattan home at roughly $509,000 today.
Show as a table
| Year | Change that year | Since 2000 | Illinois since 2000 |
|---|---|---|---|
| 2025 | +4.2% | +98% | +96% |
| 2024 | +6.1% | +90% | +85% |
| 2023 | +8.8% | +79% | +73% |
| 2022 | +12% | +65% | +61% |
| 2021 | +9.9% | +47% | +44% |
| 2020 | +2.2% | +34% | +33% |
| 2019 | +1.3% | +31% | +32% |
| 2018 | +2.5% | +30% | +28% |
| 2017 | +5% | +26% | +25% |
| 2016 | +2.4% | +20% | +22% |
| 2015 | +6.1% | +18% | +19% |
| 2014 | +4.6% | +11% | +15% |
| 2013 | −2.1% | +6.1% | +11% |
| 2012 | −6.2% | +8.4% | +11% |
| 2011 | −7.9% | +15% | +14% |
| 2010 | −6.2% | +25% | +21% |
| 2009 | −9.1% | +34% | +29% |
| 2008 | −3.3% | +47% | +40% |
| 2007 | +3.7% | +52% | +45% |
| 2006 | +5.5% | +47% | +43% |
| 2005 | +13% | +39% | +35% |
| 2004 | +6.5% | +23% | +24% |
| 2003 | +7.1% | +15% | +15% |
| 2002 | +2.3% | +7.6% | +11% |
| 2001 | +5.2% | +5.2% | +5.6% |
| 2000 | — | — | — |
How Manhattan ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 60442, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
57 new homes permitted in 2025
Builders were permitted 57 new homes in Manhattan in 2025, all single-family houses, worth about $17.2 million to build. That's 5.2 per 1,000 residents, faster than across Illinois (1.6). Over the past 10 years, Manhattan has permitted 1,145 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Manhattan gained 2,334 residents while 723 new homes were permitted: about 3.2 new residents per new home. Building and growth moved roughly in step.
How Manhattan ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 26 | 26 | 0 | $7.5 million |
| 2025 | 57 | 57 | 0 | $17.2 million |
| 2024 | 79 | 79 | 0 | $23 million |
| 2023 | 61 | 59 | 2 | $15 million |
| 2022 | 83 | 81 | 2 | $18.1 million |
| 2021 | 142 | 118 | 24 | $22.9 million |
| 2020 | 195 | 113 | 82 | $32.8 million |
| 2019 | 230 | 160 | 70 | $41 million |
| 2018 | 116 | 105 | 11 | $27.9 million |
| 2017 | 98 | 85 | 13 | $21 million |
| 2016 | 84 | 76 | 8 | $16.4 million |
| 2015 | 58 | 54 | 4 | $13.3 million |
| 2014 | 45 | 45 | 0 | $10.4 million |
| 2013 | 46 | 46 | 0 | $13.1 million |
| 2012 | 29 | 29 | 0 | $6.6 million |
| 2011 | 7 | 7 | 0 | $1.8 million |
| 2010 | 10 | 10 | 0 | $2.1 million |
| 2009 | 43 | 43 | 0 | $5.7 million |
| 2008 | 69 | 69 | 0 | $10 million |
| 2007 | 164 | 164 | 0 | $25.9 million |
| 2006 | 241 | 241 | 0 | $39.2 million |
| 2005 | 296 | 282 | 14 | $42.9 million |
| 2004 | 217 | 217 | 0 | $33.2 million |
| 2003 | 198 | 196 | 2 | $27.1 million |
| 2002 | 40 | 32 | 8 | $6.8 million |
| 2001 | 37 | 33 | 4 | $6.6 million |
| 2000 | 42 | 40 | 2 | $6.3 million |
How Manhattan ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
2.6 years of income
The typical Manhattan home costs about 2.6 years of the town's median household income, less than across Illinois (3.6 years).
How Manhattan ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,390
HUD's Fair Market Rent for a two-bedroom in Manhattan is $1,390 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Manhattan pay a median of $1,213, so moving in tends to cost more than staying put. A two-bedroom takes about 13% of the town's median household income.
Studio $1,150 · 4 bedrooms $2,070
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (60442; Chicago-Joliet-Naperville, IL HUD Metro FMR Area), 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. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.