Bourbonnais, IL—60914
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bourbonnais, IL
As of Oct '25, the median home price in Bourbonnais, IL is $288,000, with a year-over-year change of 3.6%. This indicates that home prices in Bourbonnais, 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 | $288,000 | 3.6% |
| Single Family | $290,000 | 3.6% |
| Condos | $215,000 | 4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $198,000 | 3.7% |
3 Bed | $275,000 | 4.6% |
4 Bed | $347,000 | 4.2% |
| 5 Bed | $394,000 | 3.1% |
% of Housing Stock
Rental Trends — Bourbonnais, IL
As of July '25, Rentcast reports the average rent in Bourbonnais, IL is $1,750, with a year-over-year rent change of 22.4%. Per bedroom, the median rent as of July '25 in Bourbonnais, IL is 1-bedrooms: $1,100, 2-bedrooms: $1,400, 3-bedrooms: $2,080, 4-bedrooms: $2,100. The most common rental property sizes in Bourbonnais, IL are 2-bedroom and 3-bedroom, accounting for 59.4% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,100 |
| 2 Bed Rent | $1,350 | $1,400 |
| 3 Bed Rent | $1,950 | $2,080 |
| 4 Bed Rent | $2,100 | $2,100 |
% of Rental Stock
Property Listings — Bourbonnais, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Bourbonnais, IL is 48. This is a increase of 27.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $357,000 | 16.0% |
Listing Count | 75 | 17.0% |
| Listings as % of Homes | 0.3% | 17.0% |
Days on Market | 48 | 27.0% |
Demographics — Bourbonnais, IL
As of the latest ACS Survey released in 2023, Bourbonnais, IL has a population of 28,500, which has decreased by -4.9% over the past 5 years. Bourbonnais, IL is a moderately popular place for families, as children make up 21.7% of the population. The area has a moderately educated workforce, with 31.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,500 | -4.9% |
% Under 18 | 21.7% | -5.7% |
% Seniors | 14.5% | 9.8% |
% WFH | 7.7% | 156.7% |
% w/ College Degree | 31.8% | -1.9% |
As of the latest ACS Survey released in 2023, Bourbonnais, IL is a predominantly white area, with 76.0% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Bourbonnais, IL is black, making up 10.1% of the population. Foreign-born residents account for 4.2% of the population in Bourbonnais, IL, and this percentage has increased by 10.5% 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 | 76.0% | -5.4% |
% Black | 10.1% | 16.1% |
% Hispanic | 6.6% | -12.0% |
% Asian | 2.6% | 52.9% |
% Foreign Born | 4.2% | 10.5% |
Mortgage and Risk — Bourbonnais, IL
According to HUD data as of 2023, there were 412 mortgage originations in Bourbonnais, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Bourbonnais, IL. Investor activity is low, as 6.0% 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 | 412 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Bourbonnais, IL
As of 2024, the percent of homes in Bourbonnais, IL under the Section 8 program is 6.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Bourbonnais, IL, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 185 |
Total Units Section 8 | 177 |
% Rentals under Section 8 | 6.1% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,100 | $1,070 |
| 2 Bedroom | $50 | $1,350 | $1,400 |
| 3 Bedroom | -$100 | $1,950 | $1,850 |
| 4 Bedroom | -$240 | $2,100 | $1,860 |
Affordability — Bourbonnais, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $288,000 |
| Median Household Income | $88,700 |