Harvard, IL—60033
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Harvard, IL
As of Oct '25, the median home price in Harvard, IL is $263,000, with a year-over-year change of 4.0%. This indicates that home prices in Harvard, IL are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $263,000 | 4.0% |
| Single Family | $268,000 | 4.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $193,000 | 4.9% |
3 Bed | $266,000 | 4.3% |
4 Bed | $302,000 | 3.4% |
| 5 Bed | $359,000 | 5.0% |
% of Housing Stock
Rental Trends — Harvard, IL
As of July '25, Rentcast reports the average rent in Harvard, IL is $2,040, with a year-over-year rent change of 5.7%. Per bedroom, the median rent as of July '25 in Harvard, IL is studios: $1,010, 2-bedrooms: $975, 3-bedrooms: $2,380, 4-bedrooms: $3,140. The most common rental property sizes in Harvard, IL are 2-bedroom and 3-bedroom, accounting for 31.5% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $2,040 |
| Studio Rent | $1,010 | $1,010 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $975 | $975 |
| 3 Bed Rent | $2,500 | $2,380 |
| 4 Bed Rent | $3,140 | $3,140 |
% of Rental Stock
Property Listings — Harvard, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Harvard, IL is 48. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $318,000 | -9.0% |
Listing Count | 40 | 8.0% |
| Listings as % of Homes | 0.5% | 8.0% |
Days on Market | 48 | -16.0% |
Demographics — Harvard, IL
As of the latest ACS Survey released in 2023, Harvard, IL has a population of 13,300, which has decreased by -2.5% over the past 5 years. Harvard, IL is a popular place for families, as children make up 27.0% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,300 | -2.5% |
% Under 18 | 27.0% | -7.8% |
% Seniors | 17.2% | 22.0% |
% WFH | 7.0% | 40.0% |
% w/ College Degree | 20.9% | 30.6% |
As of the latest ACS Survey released in 2023, Harvard, IL is a predominantly white area, with 56.8% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Harvard, IL is hispanic, making up 40.5% of the population. Foreign-born residents account for 12.4% of the population in Harvard, IL, and this percentage has decreased by 34.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.8% | -1.4% |
% Black | 0.4% | 33.3% |
% Hispanic | 40.5% | -1.2% |
% Asian | 0.4% | 300.0% |
% Foreign Born | 12.4% | -34.0% |
Mortgage and Risk — Harvard, IL
According to HUD data as of 2023, there were 210 mortgage originations in Harvard, IL, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Harvard, IL. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 210 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Harvard, IL
Harvard, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 96 |
Total Units Section 8 | 72 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,280 |
| 2 Bedroom | $475 | $975 | $1,450 |
| 3 Bedroom | -$640 | $2,500 | $1,860 |
| 4 Bedroom | -$950 | $3,140 | $2,190 |
Affordability — Harvard, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $263,000 |
| Median Household Income | $72,300 |