Wilmington, IL—60481
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wilmington, IL
As of Oct '25, the median home price in Wilmington, IL is $261,000, with a year-over-year change of 4.4%. This indicates that home prices in Wilmington, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $261,000 | 4.4% |
| Single Family | $261,000 | 4.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | 4.8% |
2 Bed | $198,000 | 5.3% |
3 Bed | $279,000 | 4.9% |
4 Bed | $352,000 | 5.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wilmington, IL
As of July '25, Rentcast reports the average rent in Wilmington, IL is $1,630, with a year-over-year rent change of 17.3%. Per bedroom, the median rent as of July '25 in Wilmington, IL is 1-bedrooms: $1,400, 2-bedrooms: $1,430, 3-bedrooms: $2,140. The most common rental property sizes in Wilmington, IL are 2-bedroom and 1-bedroom, accounting for 48.5% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,500 | $1,430 |
| 3 Bed Rent | $2,000 | $2,140 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Wilmington, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Wilmington, IL is 62. This is a increase of 65.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $275,000 | -22.0% |
Listing Count | 46 | 38.0% |
| Listings as % of Homes | 0.7% | 38.0% |
Days on Market | 62 | 65.0% |
Demographics — Wilmington, IL
As of the latest ACS Survey released in 2023, Wilmington, IL has a population of 11,300, which has decreased by -2.3% over the past 5 years. Wilmington, IL is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 16.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,300 | -2.3% |
% Under 18 | 18.5% | -3.1% |
% Seniors | 19.3% | -0.5% |
% WFH | 5.4% | 54.3% |
% w/ College Degree | 16.8% | 14.3% |
As of the latest ACS Survey released in 2023, Wilmington, IL is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Wilmington, IL is hispanic, making up 7.3% of the population. Foreign-born residents account for 3.7% of the population in Wilmington, IL, and this percentage has increased by 94.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.5% | -2.2% |
% Black | 2.2% | 266.7% |
% Hispanic | 7.3% | 14.1% |
% Asian | 0.5% | -37.5% |
% Foreign Born | 3.7% | 94.7% |
Mortgage and Risk — Wilmington, IL
According to HUD data as of 2023, there were 201 mortgage originations in Wilmington, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Wilmington, IL. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 201 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Wilmington, IL
Wilmington, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 50 |
Total Units Section 8 | 34 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$270 | $1,400 | $1,130 |
| 2 Bedroom | -$220 | $1,500 | $1,280 |
| 3 Bedroom | -$360 | $2,000 | $1,640 |
| 4 Bedroom | N/A | N/A | $1,930 |
Affordability — Wilmington, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $261,000 |
| Median Household Income | $76,400 |