$115,000
305 E 3rd St
Bowen, IL
4 bd2 ba936 sqft$123/ft²
House27,878 sqft lot
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Sarah Mitchell
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Compass Real Estate · Bowen, IL
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Bowen, IL(512) 555-0184TX License #0512847
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Bowen, IL Housing Market
Balanced market
Redfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The last median sale price Redfin published was $109,500 (through May 2026). With homes going under contract in about 6 days, Bowen is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $109,500 home is about $585/mo in principal and interest.
Key numbers for Bowen, IL
Median sale price
$109,500
Last published period
Redfin, through May 2026
Days on market
6
Fast-moving
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$70,263
Home costs 1.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.2%
Selling below asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Bowen a buyer's or seller's market?
Balanced market6 days on market98.2% of asking
Bowen, IL is a balanced market and homes selling in about 6 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Bowen housing market data show?
Every row below is Redfin's final published month for Bowen, IL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $109,500 |
| Median price per sq ft | $107/sq ft |
| Median days on market | 6 days |
| Sale-to-list price ratio | 98.2% |
| Homes sold (that month) | 3 |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Bowen is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Bowen is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Bowen home prices moved?
Across the 11 months we hold for Bowen, IL, the median sale price rose 138.0%, from $46,000 in August 2021 to $109,500.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Bowen?
Priced off the median sale price of $109,500 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $21,900 | $87,600 | $585/mo |
| 5% | $5,475 | $104,025 | $694/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $585, that implies roughly $25,053 a year before you add taxes and insurance. The median household in Bowen earns $70,263, about $45,210 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 1.6x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Bowen in the next 12 months?
Tell us your timeline. We send the Bowen market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Bowen?
Zillow does not publish a rent index (ZORI) for Bowen, IL, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Bowen?
Active listings in Bowen, IL went from 1 in February 2022 to 1 in April 2024, a +0.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| February 2022 | 1 | not published |
| August 2022 | 1 | 1 |
| June 2023 | 2 | not published |
| April 2024 | 1 | not published |
Redfin, through April 2024
How does Bowen compare to Illinois and the U.S.?
Bowen homes sell for $109,500 — 68% below the Illinois median of $337,900. Against the national median of $410,700, Bowen runs 73% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Bowen, IL | $109,500 | not published | 6 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Bowen
What buyers should watch
- The gap between 5% and 20% down here is $110 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $109,500 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Bowen listing goes under contract in 6 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.2% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Comparable ZIP-level pricing inside Bowen varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Bowen
Explore homes currently listed for sale in Bowen, Illinois across major real estate platforms.
Looking to buy in Bowen?
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Sale-to-list:98.2%
How much do homes cost in Bowen by property type?
How the Bowen, IL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $109,500 | $107/sq ft | 3 | 6 days |
Who lives in Bowen?
American Community Survey estimates for Bowen. U.S. Census ACS, 2023
Population
710
Households
208
Median income
$70,263/yr
Median age
28.8 years
Owner-occupied
85.6%
Median home value
$74,400
Median gross rent
$539/mo
Mean commute
25.5 min
85.6% of occupied homes in Bowen are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which public schools serve Bowen?
1 schools tracked · 265 students
The largest public schools serving Bowen, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Southeastern Elementary School
Grades PK-6 · 265 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Bowen, IL?
Ordered by distance from Bowen, not by size. Compare Bowen side by side with any of them.
Bowen housing market FAQ
Is Bowen a buyer's or seller's market?
Bowen, IL is currently a balanced market based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Bowen?
The median sale price in the last month Redfin published was $109,500, about $107 per square foot.
Is Bowen cheaper than the rest of Illinois?
Bowen's median sale price of $109,500 is 68% lower than the Illinois statewide median of $337,900, and 73% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Bowen?
Homes in Bowen, IL spent a median of 6 days on market before going under contract, versus 43 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Bowen?
At the current 30-year fixed rate of 7.03%, 20% down on a $109,500 home is about $585 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $25,053 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $70,263.
Are home prices rising in Bowen?
We do not hold a complete 12-month value series for Bowen, IL yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in Bowen?
Bowen ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Bowen?
That depends on your timeline, not on a headline. What the data says today: Bowen, IL is a balanced market, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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