A typical Preston home is worth roughly $132,000
Home prices around Preston have risen about 37% over the past 5 years.
What kind of housing town is Preston?
Read from the numbers below. The page puts what stands out first.
A typical home costs 2.5 years of income
Less than across Illinois (3.6 years). Try your own numbers below.
That covers a typical Preston home, with $70K to spare.
A two-bedroom rents for about $920 a month here, $90 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Preston’s typical property tax (1.19% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 37% in 5 years
The federal house price index for the ZIP codes around Preston rose 37% over the past 5 years, slower than across Illinois (47%). Last year prices rose 9%. Carrying the Census median home value forward with that index puts the typical Preston home at roughly $132,000 today.
Carrying the Census median forward with the index puts a typical home at about $132K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Preston, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A two-bedroom rents for about $920
Renters already here pay a median of $617, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Richland County, IL): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
77% of Preston households own their home
Half of Preston’s homes were built before 1976.
Illinois: 67% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Preston vs. its neighbors
Preston is the 2nd least expensive of 3 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Preston | $132K* | +9%† | $920 | $53,941 |
| Olney | $133K | +9.4% | $920 | $61,924 |
| Ste. Marie | $102K* | — | $930 | $91,250 |
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 Preston buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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. 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. The calculator is an estimate, not a loan offer.