Mount Carmel, IL housing market
The typical Mount Carmel home is worth about $118,000, about the same as a year ago, 60% below the Illinois typical home.
Home values, sales, trends and how Mount Carmel compares with the towns next door — updated as new data is published.
Mount Carmel at a glance
Typical home value, 2016–2026
Show as a table
| January | Mount Carmel | Illinois |
|---|---|---|
| 2017 | $105,000 | $181,000 |
| 2018 | $95,000 | $190,000 |
| 2019 | $98,000 | $195,000 |
| 2020 | $113,000 | $200,000 |
| 2021 | $110,000 | $215,000 |
| 2022 | $124,000 | $236,000 |
| 2023 | $131,000 | $248,000 |
| 2024 | $99,000 | $263,000 |
| 2025 | $111,000 | $278,000 |
| 2026 | $113,000 | $290,000 |
| August 2026 | $118,000 | $298,000 |
7 new homes permitted in 2025
Builders were permitted 7 new homes in Mount Carmel in 2025: 5 single-family houses and 2 in buildings with two or more homes, worth about $1.3 million to build. That's 1 per 1,000 residents, slower than across Illinois (1.6). Over the past 10 years, Mount Carmel has permitted 57 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Mount Carmel's population fell by 269 even though 47 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year.
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) | 3 | 3 | 0 | $613,000 |
| 2025 | 7 | 5 | 2 | $1.3 million |
| 2024 | 2 | 2 | 0 | $300,000 |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 4 | 4 | 0 | $1.6 million |
| 2021 | 4 | 4 | 0 | $615,000 |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 27 | 2 | 25 | $1.2 million |
| 2018 | 9 | 3 | 6 | $775,000 |
| 2017 | 4 | 4 | 0 | $364,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 3 | 3 | 0 | $1.5 million |
| 2014 | 1 | 1 | 0 | $400,000 |
| 2013 | 1 | 1 | 0 | $180,000 |
| 2012 | 2 | 2 | 0 | $280,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 2 | 2 | 0 | $461,000 |
| 2008 | 2 | 2 | 0 | $138,000 |
| 2007 | 4 | 4 | 0 | $250,000 |
| 2006 | 19 | 11 | 8 | $2 million |
| 2005 | 16 | 10 | 6 | $2.1 million |
| 2004 | 24 | 16 | 8 | $2.5 million |
| 2003 | 7 | 7 | 0 | $1 million |
| 2002 | 13 | 13 | 0 | $1.9 million |
| 2001 | 11 | 11 | 0 | $1.2 million |
| 2000 | 13 | 13 | 0 | $1.6 million |
How Mount Carmel 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.
2.5 years of income
The typical Mount Carmel home costs about 2.5 years of the town's median household income, less than across Illinois (3.6 years).
How Mount Carmel 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 $920
HUD's Fair Market Rent for a two-bedroom in Mount Carmel is $920 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Mount Carmel pay a median of $804, so moving in tends to cost more than staying put. A two-bedroom takes about 23% of the town's median household income.
Studio $630 · 4 bedrooms $1,310
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (62863; Wabash 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.
Recent listings in Mount Carmel
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.