Berkeley, IL—60163
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Berkeley, IL
As of Oct '25, the median home price in Berkeley, IL is $289,000, with a year-over-year change of 3.0%. This indicates that home prices in Berkeley, IL are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $289,000 | 3.1% |
| Single Family | $289,000 | 3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $256,000 | 3.2% |
3 Bed | $288,000 | 2.9% |
4 Bed | $328,000 | 2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Berkeley, IL
As of July '25, Rentcast reports the average rent in Berkeley, IL is $2,560, with a year-over-year rent change of 84.2%. Per bedroom, the median rent as of July '25 in Berkeley, IL is 2-bedrooms: $1,390, 3-bedrooms: $2,720, 4-bedrooms: $3,400. The most common rental property sizes in Berkeley, IL are 2-bedroom and 3-bedroom, accounting for 65.6% and 18.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,560 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,390 | $1,390 |
| 3 Bed Rent | $2,500 | $2,720 |
| 4 Bed Rent | $3,400 | $3,400 |
% of Rental Stock
Property Listings — Berkeley, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Berkeley, IL is 51. This is a increase of 126.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 8.0% |
Listing Count | 16 | 113.0% |
| Listings as % of Homes | 0.7% | 113.0% |
Days on Market | 51 | 126.0% |
Demographics — Berkeley, IL
As of the latest ACS Survey released in 2023, Berkeley, IL has a population of 5,200, which has remained stable by 0.9% over the past 5 years. Berkeley, IL is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 20.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,200 | 0.9% |
% Under 18 | 21.4% | -0.9% |
% Seniors | 16.9% | 19.0% |
% WFH | 14.0% | 566.7% |
% w/ College Degree | 20.8% | -5.0% |
As of the latest ACS Survey released in 2023, Berkeley, IL is a predominantly hispanic area, with 44.2% of the population identifying as hispanic. The hispanic population has grown by 19.8% in the last 5 years. The second most common race or ethnicity in Berkeley, IL is white, making up 25.9% of the population. Foreign-born residents account for 16.9% of the population in Berkeley, IL, and this percentage has decreased by 4.5% 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 | 25.9% | -11.6% |
% Black | 25.9% | -10.1% |
% Hispanic | 44.2% | 19.8% |
% Asian | 2.7% | -18.2% |
% Foreign Born | 16.9% | -4.5% |
Mortgage and Risk — Berkeley, IL
According to HUD data as of 2023, there were 82 mortgage originations in Berkeley, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Berkeley, IL. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 82 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Berkeley, IL
Berkeley, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,200 |
| 2 Bedroom | -$30 | $1,390 | $1,360 |
| 3 Bedroom | -$750 | $2,500 | $1,750 |
| 4 Bedroom | -$1,350 | $3,400 | $2,050 |
Affordability — Berkeley, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $289,000 |
| Median Household Income | $83,200 |