Byron, IL—61010
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Byron, IL
As of Oct '25, the median home price in Byron, IL is $264,000, with a year-over-year change of 6.7%. This indicates that home prices in Byron, 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 | $264,000 | 6.7% |
| Single Family | $267,000 | 6.8% |
| Condos | $190,000 | 11.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $173,000 | 10.2% |
3 Bed | $257,000 | 6.6% |
4 Bed | $314,000 | 6.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Byron, IL
As of July '25, Rentcast reports the average rent in Byron, IL is $1,620, with a year-over-year rent change of 103.8%. Per bedroom, the median rent as of July '25 in Byron, IL is 2-bedrooms: $1,300, 3-bedrooms: $1,780. The most common rental property sizes in Byron, IL are 2-bedroom and 1-bedroom, accounting for 39.8% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,620 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,300 | $1,300 |
| 3 Bed Rent | $1,400 | $1,780 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Byron, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Byron, IL is 67. This is a increase of 45.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 11.0% |
Listing Count | 22 | 64.0% |
| Listings as % of Homes | 0.2% | 64.0% |
Days on Market | 67 | 45.0% |
Demographics — Byron, IL
As of the latest ACS Survey released in 2023, Byron, IL has a population of 7,490, which has decreased by -4.0% over the past 5 years. Byron, IL is a moderately popular place for families, as children make up 24.9% of the population. The area has a moderately educated workforce, with 34.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,490 | -4.0% |
% Under 18 | 24.9% | -1.6% |
% Seniors | 15.1% | 18.0% |
% WFH | 11.2% | 143.5% |
% w/ College Degree | 34.4% | 20.7% |
As of the latest ACS Survey released in 2023, Byron, IL is a predominantly white area, with 86.6% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Byron, IL is hispanic, making up 9.3% of the population. Foreign-born residents account for 4.4% of the population in Byron, IL, and this percentage has increased by 214.3% 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 | 86.6% | -5.1% |
% Black | 0.1% | -83.3% |
% Hispanic | 9.3% | 86.0% |
% Asian | 0.5% | -37.5% |
% Foreign Born | 4.4% | 214.3% |
Mortgage and Risk — Byron, IL
According to HUD data as of 2023, there were 147 mortgage originations in Byron, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Byron, IL. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 147 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Byron, IL
Byron, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 55 |
Total Units Section 8 | 55 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $850 |
| 2 Bedroom | -$190 | $1,300 | $1,110 |
| 3 Bedroom | -$10 | $1,400 | $1,390 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — Byron, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $264,000 |
| Median Household Income | $89,900 |