Much like its surrounding areas, it is a lot less expensive compared to the rest of the nation. Compared to the city of Madison, it is significantly less expensive.
Home prices
The price of the median home in Shannon is $91,400. It is approximately $3,800 (4%) higher in comparison to the surrounding areas.It is roughly $126,100 (57%) lower compared to the entire country, and it is roughly $154,900 (62%) lower in comparison to the city of Madison.
Rents
The median monthly rent in Shannon is $578. Compared to nearby areas it is about $53 (8%) lower.It is roughly $484 (45%) lower in comparison to the entire country, and in comparison to the city of Madison it is roughly $540 (48%) lower.
Nearby places
Lanark
Lanark is about 5 miles southwest of Shannon. Its real estate prices are a bit less expensive. The median home in Lanark is valued at $86,300, which is $5,100 (5%) lower than Shannon. Rent there is fairly similar. The median monthly rent in Lanark is $600, which is $22 (3%) higher than Shannon.
Forreston
Forreston is about 7 miles east of Shannon. Real estate prices there are pretty similar. The median home in Forreston is valued at $96,000, which works out to $4,600 (4%) higher than Shannon. Rents there are a bit more expensive. The median monthly rent in Forreston is $683, which comes out to $105 (15%) higher than Shannon.
Pearl City
Pearl City is roughly 8 miles northwest from Shannon. The real estate prices there are a bit more expensive. The median home cost in Pearl City is $96,600, which works out to $5,200 (5%) higher than Shannon. Rent there is somewhat more expensive. Pearl City's median monthly rent is $631, which comes out to $53 (8%) higher than Shannon.
Freeport
Freeport is about 10 miles northeast from Shannon. Its housing prices are a bit less expensive. Freeport's median home price is $72,100, which works out to $19,300 (26%) lower than Shannon. The rent there is a bit more expensive. In Freeport the median rent is $653 a month, which is $75 (11%) higher than Shannon.
Mount Carroll
Mount Carroll is roughly 11 miles west from Shannon. The housing prices there are a little less expensive. The price of the median home in Mount Carroll is $87,000, which is $4,400 (5%) lower than Shannon. Rents there are similar. Mount Carroll's median rent is $588 per month, which is $10 (1%) higher than Shannon.
