Belvidere, IL 61008 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Belvidere, IL—61008

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$265,000

6.8% YoY Growth

Household Income

$75,800

29.2% YoY Growth

Days on Market

53.0% Longer YoY

Home Price Forecast

3.2%

Median Rent

$1,150

18.6% YoY Growth

1-Bed Rent

$1,000

21.1% YoY Growth

2-Bed Rent

$995

20.2% YoY Growth

3-Bed Rent

$1,800

1.1% YoY Growth

Home Price Trends — Belvidere, IL

As of May '26, the median home price in Belvidere, IL is $265,000, with a year-over-year change of 6.8%. This indicates that home prices in Belvidere, IL are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$265,000	6.8%
Single Family	$268,000	7.2%
Condos	$191,000	6.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Belvidere, IL

As of July '25, Rentcast reports the average rent in Belvidere, IL is $1,340, with a year-over-year rent change of 18.6%. Per bedroom, the median rent as of July '25 in Belvidere, IL is 1-bedrooms: $948, 2-bedrooms: $1,060, 3-bedrooms: $1,840, 4-bedrooms: $1,650. The most common rental property sizes in Belvidere, IL are 2-bedroom and 1-bedroom, accounting for 44.8% and 27.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,150	$1,340
Studio Rent	N/A	N/A
1 Bed Rent	$1,000	$948
2 Bed Rent	$995	$1,060
3 Bed Rent	$1,800	$1,840
4 Bed Rent	$1,400	$1,650

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% of Rental Stock

Studio

1.8%

1 Bedroom

27.6%

2 Bedrooms

44.8%

3 Bedrooms

21.7%

4 Bedrooms

4.0%

Property Listings — Belvidere, IL

As of May '26, Realtor.com reports that the median days on market for a home in Belvidere, IL is 31. This is a increase of 53.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$299,000	10.0%
Listing Count	77	30.0%
Listings as % of Homes	0.4%	30.0%
Days on Market	31	53.0%

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Demographics — Belvidere, IL

As of the latest ACS Survey released in 2023, Belvidere, IL has a population of 33,700, which has decreased by -1.7% over the past 5 years. Belvidere, IL is a moderately popular place for families, as children make up 22.4% of the population. The area has a poorly educated workforce, with 21.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	33,700	-1.7%
% Under 18	22.4%	-10.4%
% Seniors	17.3%	13.1%
% WFH	8.1%	65.3%
% w/ College Degree	21.0%	4.0%

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As of the latest ACS Survey released in 2023, Belvidere, IL is a predominantly white area, with 65.2% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in Belvidere, IL is hispanic, making up 29.0% of the population. Foreign-born residents account for 12.0% of the population in Belvidere, IL, and this percentage has decreased by 2.4% 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	65.2%	-4.4%
% Black	2.2%	22.2%
% Hispanic	29.0%	7.4%
% Asian	1.4%	40.0%
% Foreign Born	12.0%	-2.4%

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Mortgage and Risk — Belvidere, IL

According to HUD data as of 2023, there were 528 mortgage originations in Belvidere, IL, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Belvidere, IL. Investor activity is low, as 3.0% 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	528
% Conventional Loans	82.0%
% Government Loans	18.0%
% Investor Loans	3.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Belvidere, IL

As of 2024, the percent of homes in Belvidere, IL under the Section 8 program is 22.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Belvidere, IL, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	617
Total Units Section 8	617
% Rentals under Section 8	22.5%
% Occupied Section 8	93.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$80	$1,000	$920
2 Bedroom	$215	$995	$1,210
3 Bedroom	-$200	$1,800	$1,600
4 Bedroom	$240	$1,400	$1,640

Belvidere, IL—61008

Key Metrics at a Glance

Home Price Trends — Belvidere, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Belvidere, IL

% of Rental Stock

Property Listings — Belvidere, IL

Demographics — Belvidere, IL

Race and Ethnicity

Mortgage and Risk — Belvidere, IL

Mortgages

Rentals and Section 8 — Belvidere, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Belvidere, IL

Home Price to Income Ratio

Belvidere, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Garden Prairie, IL

Cherry Valley, IL

Beiler Subdivision, IL

Kirkland, IL

Caledonia, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$265,000
Median Household Income	$75,800

Belvidere, IL—61008

Key Metrics at a Glance

Home Price Trends — Belvidere, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Belvidere, IL

% of Rental Stock

Property Listings — Belvidere, IL

Demographics — Belvidere, IL

Race and Ethnicity

Mortgage and Risk — Belvidere, IL

Mortgages

Rentals and Section 8 — Belvidere, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Belvidere, IL

Home Price to Income Ratio

Belvidere, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Garden Prairie, IL

Cherry Valley, IL

Beiler Subdivision, IL

Kirkland, IL

Caledonia, IL

Frequently Asked Questions

What is the average home price in Belvidere, IL 61008?

How have home prices in Belvidere, IL 61008 changed over the past year?

What is the home price projection for Belvidere, IL 61008?

What are the demographics of Belvidere, IL 61008?

How long does it take homes to sell in Belvidere, IL 61008?

What is the average rent price in Belvidere, IL 61008?