Marengo, IL—60152
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Marengo, IL
As of Oct '25, the median home price in Marengo, IL is $338,000, with a year-over-year change of 4.6%. This indicates that home prices in Marengo, IL are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 4.6% |
| Single Family | $342,000 | 4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $221,000 | 5.2% |
3 Bed | $331,000 | 3.8% |
4 Bed | $394,000 | 3.4% |
| 5 Bed | $451,000 | 3.9% |
% of Housing Stock
Rental Trends — Marengo, IL
As of July '25, Rentcast reports the average rent in Marengo, IL is $1,860, with a year-over-year rent change of -8.4%. Per bedroom, the median rent as of July '25 in Marengo, IL is 2-bedrooms: $1,820, 3-bedrooms: $1,930. The most common rental property sizes in Marengo, IL are 2-bedroom and 1-bedroom, accounting for 47.8% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,860 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,850 | $1,820 |
| 3 Bed Rent | $1,900 | $1,930 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Marengo, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Marengo, IL is 44. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $413,000 | 20.0% |
Listing Count | 51 | 5.0% |
| Listings as % of Homes | 0.6% | 5.0% |
Days on Market | 44 | 8.0% |
Demographics — Marengo, IL
As of the latest ACS Survey released in 2023, Marengo, IL has a population of 12,000, which has decreased by -2.7% over the past 5 years. Marengo, IL is a popular place for families, as children make up 26.0% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,000 | -2.7% |
% Under 18 | 26.0% | 18.7% |
% Seniors | 18.0% | -1.1% |
% WFH | 8.3% | 124.3% |
% w/ College Degree | 26.9% | 2.3% |
As of the latest ACS Survey released in 2023, Marengo, IL is a predominantly white area, with 87.7% of the population identifying as white. The white population has grown by 4.4% in the last 5 years. The second most common race or ethnicity in Marengo, IL is hispanic, making up 9.4% of the population. Foreign-born residents account for 4.6% of the population in Marengo, IL, and this percentage has decreased by 34.3% 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 | 87.7% | 4.4% |
% Black | 0.9% | -18.2% |
% Hispanic | 9.4% | -32.4% |
% Asian | 0.0% | N/A |
% Foreign Born | 4.6% | -34.3% |
Mortgage and Risk — Marengo, IL
According to HUD data as of 2023, there were 229 mortgage originations in Marengo, IL, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Marengo, IL. Investor activity is low, as 7.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 229 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Marengo, IL
Marengo, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 28 |
Total Units Section 8 | 28 |
% Rentals under Section 8 | 3.1% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,160 |
| 2 Bedroom | -$540 | $1,850 | $1,310 |
| 3 Bedroom | -$220 | $1,900 | $1,680 |
| 4 Bedroom | N/A | N/A | $1,980 |
Affordability — Marengo, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $338,000 |
| Median Household Income | $94,200 |