Similar to its surrounding areas, it's substantially less expensive compared to the entire country. Compared to the city of Madison, it is significantly less expensive.
Home prices
Lanark's median home cost is $86,300. This is is very similar in comparison to other places in this area.It is about $131,200 (60%) lower compared to the US as a whole, and it is about $160,000 (64%) lower in comparison to the city of Madison.
Rents
Lanark's median rent is $600 a month. In comparison to its surrounding areas this is about $34 (5%) lower.Compared to the entire nation it is approximately $462 (43%) lower, and in comparison to the city of Madison it is about $518 (46%) lower.
Nearby places
Shannon
Shannon is roughly 5 miles northeast of Lanark. The real estate prices there are a little more expensive. The median home in Shannon costs $91,400, which works out to $5,100 (5%) higher than Lanark. The rent there is pretty similar. Shannon's median monthly rent is $578, which is $22 (3%) lower than Lanark.
Chadwick
Chadwick is roughly 6 miles southwest from Lanark. The real estate prices there are a little less expensive. Chadwick's median home value is $70,200, which comes out to $16,100 (22%) lower than Lanark. Its rents are somewhat more expensive. In Chadwick the median monthly rent is $714, which is $114 (15%) higher than Lanark.
Mount Carroll
Mount Carroll is about 6 miles west of Lanark. Its real estate prices are fairly similar. The median home in Mount Carroll is valued at $87,000, which is very similar to Lanark. The rent there is fairly similar. The median monthly rent in Mount Carroll is $588, which comes out to $12 (2%) lower than Lanark.
Milledgeville
Milledgeville is about 9 miles south from Lanark. Its real estate prices are fairly similar. Milledgeville's median home price is $84,100, which is $2,200 (2%) lower than Lanark. Rent there is somewhat more expensive. The median monthly rent in Milledgeville is $660, which works out to $60 (9%) higher than Lanark.
Pearl City
Pearl City is roughly 10 miles north of Lanark. The housing prices there are a little more expensive. The median home in Pearl City costs $96,600, which works out to $10,300 (10%) higher than Lanark. The rent there is pretty similar. In Pearl City the median rent is $631 a month, which is $31 (4%) higher than Lanark.
