Belvidere, IL—61008
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Belvidere, IL
As of Oct '25, the median home price in Belvidere, IL is $250,000, with a year-over-year change of 6.2%. This indicates that home prices in Belvidere, IL are increasing. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $250,000 | 6.2% |
| Single Family | $253,000 | 6.3% |
| Condos | $182,000 | 6.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $167,000 | 6.4% |
3 Bed | $240,000 | 6.7% |
4 Bed | $323,000 | 5.6% |
| 5 Bed | $388,000 | 5.7% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Belvidere, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Belvidere, IL is 43. This is a increase of 89.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 0.0% |
Listing Count | 72 | -2.0% |
| Listings as % of Homes | 0.4% | -2.0% |
Days on Market | 43 | 89.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Belvidere, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $250,000 |
| Median Household Income | $75,800 |