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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Evanston, IL Housing Affordability Index

Evanston, Illinois has an MBR Housing Affordability Index score of 75.2 (Moderately Less Affordable) as of October 30, 2026, ranking 1245th most affordable of 1,249 scored Illinois cities, compared with 102.2 statewide and 97.4 nationally. On a median-priced $481,200 home with 20% down, the Illinois average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $2,643, or 33% of the city’s $96,434 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Evanston is updated every night from live Illinois mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Evanston MBR-HAI 75.2 Moderately Less Affordable
Rank in Illinois 1,245 of 1,249 1 = most affordable
Illinois 102.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Illinois lenders
Median home value $481,200 U.S. Census Bureau

Evanston is 27.0 points below the Illinois score. Scores as of October 30, 2026. See the Illinois index

View Evanston Mortgage Rates

What It Takes to Buy in Evanston

$2,643/mo
Principal & Interest
Median home, 20% down, 7.31%
$113,300
Income Needed
To keep the payment at 28% of income
$96,434
Median Household Income
Illinois: $83,390
5.0x
Price-to-Income Ratio
Illinois: 3.2x
$2,183/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$9,287/yr
Median Property Tax
1.93% of median value
29.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
49.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Evanston, Illinois. The rate is the Illinois average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

How Evanston Ranks in Illinois

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Cite the Evanston Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Evanston, Illinois score: 75.2 (Moderately Less Affordable), ranked 1,245 of 1,249 Illinois cities. monitorbankrates.com/housing-affordability-index/illinois/evanston”