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Featured local agent — Fairmont City, IL
Sarah Mitchell
Compass Real Estate · Fairmont City, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Fairmont City, IL Housing Market
The typical home in Fairmont City, IL is worth $66,464, fell 5.6% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $58,000 (through May 2026). With homes going under contract in about 27 days, Fairmont City is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $66,464 home is about $355/mo in principal and interest.
Key numbers for Fairmont City, IL
Typical home value
$66,464
-5.6% in 12 months
Zillow, August 2026
Median sale price
$58,000
Last published period
Redfin, through April 2026
Days on market
27
Average pace
Redfin, through April 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$43,333
Home costs 1.5x income
U.S. Census ACS, 2023
Sale-to-list ratio
145.4%
Selling above asking
Redfin, through April 2026
Zillow figures are as of August 2026 and 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 Fairmont City a buyer's or seller's market?
Fairmont City, IL is a seller's market and homes selling in about 27 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 Fairmont City housing market data show?
Every row below is Redfin's final published month for Fairmont City, IL. Redfin, through April 2026
| Metric | Value |
|---|---|
| Median sale price | $58,000 |
| Median price per sq ft | $43/sq ft |
| Median days on market | 27 days |
| Sale-to-list price ratio | 145.4% |
| Homes sold (that month) | 1 |
| Market condition | Seller's 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 Fairmont City is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Fairmont City 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 Fairmont City home prices moved?
Across the 9 months we hold for Fairmont City, IL, the median sale price rose 65.7%, from $35,000 in June 2021 to $58,000. The live Zillow value series has fell 5.6% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through April 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Fairmont City?
Priced off the typical home value of $66,464 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% | $13,293 | $53,172 | $355/mo |
| 5% | $3,323 | $63,141 | $421/mo |
Zillow, August 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 $355, that implies roughly $15,207 a year before you add taxes and insurance. The median household in Fairmont City earns $43,333, about $28,126 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 1.5x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Fairmont City in the next 12 months?
Tell us your timeline. We send the Fairmont City 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 Fairmont City?
Zillow does not publish a rent index (ZORI) for Fairmont City, 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 Fairmont City?
Active listings in Fairmont City, IL went from 1 in July 2022 to 1 in July 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 |
|---|---|---|
| July 2022 | 1 | 1 |
| March 2023 | 1 | 1 |
| July 2024 | 1 | not published |
Redfin, through July 2024
How does Fairmont City compare to Illinois and the U.S.?
Fairmont City homes sell for $58,000 — 83% below the Illinois median of $337,900. Against the national median of $410,700, Fairmont City runs 86% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Fairmont City, IL | $58,000 | not published | 27 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through April 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Fairmont City
What buyers should watch
- The gap between 5% and 20% down here is $67 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 $66,464 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 Fairmont City listing goes under contract in 27 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 145.4% of asking. Price at the number you want and let competition do the rest.
- Your equity moved -5.6% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Fairmont City varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Fairmont City
Explore homes currently listed for sale in Fairmont City, Illinois across major real estate platforms.
How much do homes cost in Fairmont City by property type?
How the Fairmont City, IL market breaks down across single-family homes, condos and townhouses. Redfin, through April 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $58,000 | $43/sq ft | 1 | 27 days |
Who lives in Fairmont City?
American Community Survey estimates for Fairmont City. U.S. Census ACS, 2023
Population
2,354
Households
880
Median income
$43,333/yr
Median age
40.9 years
Owner-occupied
76.1%
Median home value
$65,500
Median gross rent
$1,012/mo
Mean commute
17.8 min
76.1% of occupied homes in Fairmont City 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. The Census self-reported median home value is $65,500 against Zillow's $66,464 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Fairmont City, IL?
Ordered by distance from Fairmont City, not by size. Compare Fairmont City side by side with any of them.
Fairmont City housing market FAQ
Is Fairmont City a buyer's or seller's market?
Fairmont City, IL is currently a seller's 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 Fairmont City?
The typical home in Fairmont City, IL is worth $66,464 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $58,000, about $43 per square foot.
Is Fairmont City cheaper than the rest of Illinois?
Fairmont City's median sale price of $58,000 is 83% lower than the Illinois statewide median of $337,900, and 86% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Fairmont City?
Homes in Fairmont City, IL spent a median of 27 days on market before going under contract, versus 43 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Fairmont City?
At the current 30-year fixed rate of 7.03%, 20% down on a $66,464 home is about $355 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $15,207 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $43,333.
Are home prices rising in Fairmont City?
The typical home value in Fairmont City, IL fell 5.6% over the last 12 months, from $70,380 to $66,464 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Fairmont City?
Fairmont City 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 Fairmont City?
That depends on your timeline, not on a headline. What the data says today: Fairmont City, IL is a seller's market, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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