Home ownership in Cambridge, a city within Henry County, Illinois is an attractive option for many. The city is home to a strong sense of community, with many local events and activities that provide residents with opportunities to socialize and build relationships. Additionally, the area is known for its excellent schools and safe neighborhoods. On top of that, the town has a low cost of living compared to other areas in the state.

However, one downside of home ownership in Cambridge is that the local housing market can be competitive. Home buyers may find it difficult to find suitable properties due to the high demand for homes in the area.

Here are some general pros and cons of purchasing real estate in the village of Cambridge, Illinois:

Pros:
- Cambridge has a low cost of living compared to the national average, according to AreaVibes.
- The village has a small-town feel and a tight-knit community, which may appeal to some homebuyers.
- The area is surrounded by natural beauty and outdoor recreation opportunities, with the Hennepin Canal Park and Johnson-Sauk Trail State Park nearby.
- The village is located within a reasonable driving distance to the Quad Cities metropolitan area, which provides access to bigger city amenities.

Cons:
- The village's population has been declining over the years, which may indicate a lack of job opportunities and economic growth in the area.
- The median home price in Cambridge is slightly higher than the national average, although it is still lower than the average for Illinois as a whole.
- Some properties in Cambridge may be prone to flooding, so it's important to research this risk when considering specific homes.

It's important to note that every buyer's individual circumstances and priorities will be different, so it's essential to do your own research and weigh the pros and cons for your own situation.