Durand, IL—61024
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Durand, IL
As of Oct '25, the median home price in Durand, IL is $213,000, with a year-over-year change of 8.3%. This indicates that home prices in Durand, IL are increasing. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $213,000 | 8.3% |
| Single Family | $232,000 | 7.9% |
| 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 | $228,000 | 6.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Durand, IL
Durand, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,800 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,800 | $1,800 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Durand, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Durand, IL is 37. This is a decrease of -48.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $271,000 | 11.0% |
Listing Count | 7 | -29.0% |
| Listings as % of Homes | 0.6% | -29.0% |
Days on Market | 37 | -48.0% |
Demographics — Durand, IL
As of the latest ACS Survey released in 2023, Durand, IL has a population of 2,260, which has decreased by -10.7% over the past 5 years. Durand, IL is a moderately popular place for families, as children make up 23.6% of the population. The area has a poorly educated workforce, with 19.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,260 | -10.7% |
% Under 18 | 23.6% | 21.0% |
% Seniors | 23.1% | 9.5% |
% WFH | 9.7% | 94.0% |
% w/ College Degree | 19.7% | 7.1% |
As of the latest ACS Survey released in 2023, Durand, IL is a predominantly white area, with 91.5% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Durand, IL is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.3% of the population in Durand, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.5% | -6.3% |
% Black | 1.0% | 400.0% |
% Hispanic | 2.4% | 84.6% |
% Asian | 1.3% | 550.0% |
% Foreign Born | 1.3% | 0.0% |
Mortgage and Risk — Durand, IL
According to HUD data as of 2023, there were 105 mortgage originations in Durand, IL, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Durand, IL. Investor activity is low, as 2.0% 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 | 105 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Durand, IL
Durand, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 24 |
Total Units Section 8 | 24 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $720 |
| 2 Bedroom | -$850 | $1,800 | $950 |
| 3 Bedroom | N/A | N/A | $1,260 |
| 4 Bedroom | N/A | N/A | $1,290 |
Affordability — Durand, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $213,000 |
| Median Household Income | $73,200 |