Cowden, IL 62422 housing market

What this means

• Valuation. Prices are 12% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are flat over the past year (U.S.: +1.2%).
• Supply. There are 167% more homes for sale than the 2017-19 norm and rising (+300% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (100/100; U.S.: 54): homes sell for about 24.1% below their final list price (as of Jan 2026); 100% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 18% of the median household income (U.S.: 35%); it takes about $44k a year to keep the payment at 30% of gross pay. That includes about $1,514 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $140 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. No clear direction: likely −8% to +9% over the next 12 months (61% chance of a rise).

Next 12 months

No clear direction

A rise is somewhat more likely than a fall, but not by enough to call. Likely change: −7.8% to +8.6% (80% range; middle estimate +1.5%), chance of a rise 61%, of a 5%+ drop 16%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Shelby County, IL