Housing in Otto

A typical Otto home is worth roughly $180,000

Typical home value

$180K

IL $298K

Estimate

2-bedroom rent

$1,230

a month, utilities in · HUD

Median tax bill

$4,110

IL $5,298

What kind of housing town is Otto?

Read from the numbers below. The page puts what stands out first.

Your money goes further40% below the Illinois typical home.

★ What stands out · Affordability

A typical home costs 2.2 years of income

Less than across Illinois (3.6 years). Try your own numbers below.

You could afford about

$261,000

Typical Otto home $180K

That covers a typical Otto home, with $81K to spare.

The typical home, each month

$1,290

Loan $890Tax $340Insurance $50

A two-bedroom rents for about $1,230 a month here, $60 less than owning.

Where your budget reaches nearby

Aroma$167K Kankakee$155K Chebanse$196K Limestone$240K Pilot$215K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Otto’s typical property tax (2.29% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,230

Renters already here pay a median of $1,106, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$860

1 bedroom$940

2 bedrooms$1,230

3 bedrooms$1,600

4 bedrooms$1,720

24%

of households rent · IL 33%

162

renter households

18%

of renters spend 30%+ of income on rent · IL 48%

18%

of the median income, for a two-bedroom

$1,106

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Kankakee, IL MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

The homes

76% of Otto households own their home

Half of Otto’s homes were built before 1972.

Owners and renters

Own 76%Rent 24%

Illinois: 67% own.

1972

typical home built · IL 1971

$4,110

median property tax bill · IL $5,298

2.29%

of a home’s value, a year in tax · IL 2.01%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Next door

Otto vs. its neighbors

Otto is the 3rd least expensive of 6 neighboring towns. Tap one to see its housing page.

Limestone$240K Pilot$215K Chebanse$196K Otto$180K Aroma$167K Kankakee$155K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Otto	$180K*	—	$1,230	$80,250
Aroma	$167K*	+3.8%†	$1,160	$74,740
Kankakee	$155K	+4%	$1,240	$50,768
Chebanse	$196K	−1.8%	$1,090	$83,281
Limestone	$240K	+7.1%	$1,250	$112,258
Pilot	$215K*	+0.6%†	$1,300	$92,222

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Otto buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Otto still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.