Summit, IL housing market
Home prices around Summit have risen about 43% over the past 5 years.
Home values, sales, trends and how Summit compares with the towns next door — updated as new data is published.
Home prices up 43% in 5 years
The federal house price index for the ZIP codes around Summit rose 43% over the past 5 years, slower than across Illinois (47%). Last year prices rose 7.2%. Carrying the Census median home value forward with that index puts the typical Summit home at roughly $372,000 today.
Show as a table
| Year | Change that year | Since 2000 | Illinois since 2000 |
|---|---|---|---|
| 2025 | +7.2% | +120% | +96% |
| 2024 | +4.8% | +106% | +85% |
| 2023 | +5.7% | +96% | +73% |
| 2022 | +11% | +86% | +61% |
| 2021 | +8.8% | +67% | +44% |
| 2020 | +2.4% | +54% | +33% |
| 2019 | +3.6% | +50% | +32% |
| 2018 | +2.6% | +45% | +28% |
| 2017 | +0.5% | +41% | +25% |
| 2016 | +3.5% | +41% | +22% |
| 2015 | +0.7% | +36% | +19% |
| 2014 | +4.3% | +35% | +15% |
| 2013 | +0.3% | +29% | +11% |
| 2012 | +2.2% | +29% | +11% |
| 2011 | −1.4% | +26% | +14% |
| 2010 | +1.4% | +28% | +21% |
| 2009 | 0% | +26% | +29% |
| 2008 | +1% | +26% | +40% |
| 2007 | +7.3% | +25% | +45% |
| 2006 | +2.4% | +17% | +43% |
| 2005 | +5% | +14% | +35% |
| 2004 | +2.5% | +8.4% | +24% |
| 2003 | +2.3% | +5.8% | +15% |
| 2002 | +0.9% | +3.3% | +11% |
| 2001 | +2.4% | +2.4% | +5.6% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 62401, 62461, 62411, covering 83% of Summit’s land, 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.
Summit and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Summit | — | +7.2%† | $930 | — | $111,488 |
| Jackson | — | +14.3%† | $980 | — | $72,560 |
| Douglas | — | +6.3%† | $920 | — | $74,666 |
| Moccasin | — | +19.3%† | $1,030 | — | $62,589 |
| Effingham | $237K | +2.8% | $920 | 43 | $72,377 |
† FHFA price index change, where Zillow has no home value for the town.
2.8 years of income
The typical Summit home costs about 2.8 years of the town's median household income, less than across Illinois (3.6 years).
How Summit 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 $930
HUD's Fair Market Rent for a two-bedroom in Summit is $930 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Summit pay a median of $849. A two-bedroom takes about 10% of the town's median household income.
Studio $750 · 4 bedrooms $1,410
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (62401, 62411, 62461; Effingham 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 Summit
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.