Hoopeston, IL—60942
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hoopeston, IL
As of Oct '25, the median home price in Hoopeston, IL is $76,000, with a year-over-year change of -4.9%. This indicates that home prices in Hoopeston, IL are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $76,000 | -4.9% |
| Single Family | $76,000 | -3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $98,000 | -2.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hoopeston, IL
As of July '25, Rentcast reports the average rent in Hoopeston, IL is $674, with a year-over-year rent change of 15.0%. Per bedroom, the median rent as of July '25 in Hoopeston, IL is 1-bedrooms: $533, 2-bedrooms: $659, 3-bedrooms: $874, 4-bedrooms: $1,350. The most common rental property sizes in Hoopeston, IL are 2-bedroom and 3-bedroom, accounting for 61.4% and 19.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $675 | $674 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $475 | $533 |
| 2 Bed Rent | $675 | $659 |
| 3 Bed Rent | $650 | $874 |
| 4 Bed Rent | $1,350 | $1,350 |
% of Rental Stock
Property Listings — Hoopeston, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Hoopeston, IL is 85. This is a decrease of -8.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $77,400 | -15.0% |
Listing Count | 14 | -43.0% |
| Listings as % of Homes | 0.6% | -43.0% |
Days on Market | 85 | -8.0% |
Demographics — Hoopeston, IL
As of the latest ACS Survey released in 2023, Hoopeston, IL has a population of 5,640, which has decreased by -4.0% over the past 5 years. Hoopeston, IL is a moderately popular place for families, as children make up 19.0% of the population. The area has a poorly educated workforce, with 9.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,640 | -4.0% |
% Under 18 | 19.0% | -10.8% |
% Seniors | 22.5% | 10.3% |
% WFH | 4.2% | -28.8% |
% w/ College Degree | 9.2% | -40.6% |
As of the latest ACS Survey released in 2023, Hoopeston, IL is a predominantly white area, with 91.0% of the population identifying as white. The white population has grown by 13.7% in the last 5 years. The second most common race or ethnicity in Hoopeston, IL is hispanic, making up 4.9% of the population. Foreign-born residents account for 1.4% of the population in Hoopeston, IL, and this percentage has decreased by 61.1% 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 | 91.0% | 13.7% |
% Black | 1.9% | -17.4% |
% Hispanic | 4.9% | -66.0% |
% Asian | 1.1% | -57.7% |
% Foreign Born | 1.4% | -61.1% |
Mortgage and Risk — Hoopeston, IL
According to HUD data as of 2023, there were 65 mortgage originations in Hoopeston, IL, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Hoopeston, IL. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 65 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Hoopeston, IL
As of 2024, the percent of homes in Hoopeston, IL under the Section 8 program is 7.6%. 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. In Hoopeston, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 157 |
Total Units Section 8 | 72 |
% Rentals under Section 8 | 7.6% |
% Occupied Section 8 | 72.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $305 | $475 | $780 |
| 2 Bedroom | $345 | $675 | $1,020 |
| 3 Bedroom | $590 | $650 | $1,240 |
| 4 Bedroom | $30 | $1,350 | $1,380 |
Affordability — Hoopeston, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.4 |
| Median Home Price | $76,000 |
| Median Household Income | $55,300 |