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Living and Working in O’Fallon, IL: A Look at the Local Real Estate Market

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O’Fallon, Illinois is a thriving community located in St. Clair County, just 18 miles east of downtown St. Louis. Known for its small-town charm, excellent public schools, and diverse economy, it’s no surprise that O’Fallon has become a popular place to both live and work. In order to better understand the appeal of O’Fallon, it’s important to take a look at the local real estate market.

One of the main draws of O’Fallon is the affordable cost of living when compared to nearby cities. According to BestPlaces.net, the overall cost of living in O’Fallon is 10.4% lower than the national average. Additionally, the median home price in O’Fallon is $187,800, which is just slightly below the national median home price of $231,200.

Despite its affordability, O’Fallon offers residents access to all of the amenities they need. The city is home to several shopping centers and restaurants, including the popular O’Fallon Station shopping mall. Additionally, O’Fallon’s proximity to St. Louis allows residents to easily access everything that the big city has to offer.

What makes O’Fallon particularly attractive to those looking for a place to work is the city’s rapidly growing economy. O’Fallon is the headquarters of many corporations, including O’Fallon-based McKendree University, HSHS St. Elizabeth’s Hospital, and the Illinois Air National Guard’s 126th Air Refueling Wing. Additionally, O’Fallon has recently attracted many technology-based businesses, including World Wide Technology, which was named one of the top 10 largest privately held companies in the country by Forbes Magazine.

The strong economy in O’Fallon has led to a healthy real estate market. According to Redfin.com, the median home sale price in O’Fallon is $196,000, which represents a 6.5% increase over the past year. Additionally, homes in O’Fallon tend to sell quickly, with the average time on the market being just 27 days.

For those who are interested in purchasing a home in O’Fallon, there are a variety of options available. The city offers many different styles of homes, from historic Victorian homes to new construction properties. Additionally, there are several popular neighborhoods in O’Fallon, including Thornbury Hill, which features luxury homes with large lots, and Fairwood Hills, which offers a mix of mid-century and modern homes.

In conclusion, O’Fallon, Illinois provides a unique opportunity for both living and working in a thriving community that offers an unbeatable combination of affordability and opportunity. With its strong economy, excellent schools, and varied housing options, it’s no wonder that O’Fallon continues to be a popular choice for families, young professionals, and retirees alike.