Freeport, IL—61032
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Freeport, IL
As of Oct '25, the median home price in Freeport, IL is $120,000, with a year-over-year change of 7.1%. This indicates that home prices in Freeport, IL are increasing. According to Zillow, the 1-year price projection is 3.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $120,000 | 7.1% |
| Single Family | $119,000 | 7.2% |
| Condos | $139,000 | 11.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $106,000 | 7.1% |
3 Bed | $160,000 | 8.8% |
4 Bed | $206,000 | 7.9% |
| 5 Bed | $245,000 | 6.5% |
% of Housing Stock
Rental Trends — Freeport, IL
As of July '25, Rentcast reports the average rent in Freeport, IL is $756, with a year-over-year rent change of -3.4%. Per bedroom, the median rent as of July '25 in Freeport, IL is studios: $583, 1-bedrooms: $669, 2-bedrooms: $779, 3-bedrooms: $836, 4-bedrooms: $1,100. The most common rental property sizes in Freeport, IL are 2-bedroom and 3-bedroom, accounting for 41.9% and 23.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $756 |
| Studio Rent | $600 | $583 |
| 1 Bed Rent | $650 | $669 |
| 2 Bed Rent | $800 | $779 |
| 3 Bed Rent | $875 | $836 |
| 4 Bed Rent | $1,100 | $1,100 |
% of Rental Stock
Property Listings — Freeport, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Freeport, IL is 57. This is a increase of 5.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $165,000 | 16.0% |
Listing Count | 105 | -17.0% |
| Listings as % of Homes | 0.6% | -17.0% |
Days on Market | 57 | 5.0% |
Demographics — Freeport, IL
As of the latest ACS Survey released in 2023, Freeport, IL has a population of 29,100, which has decreased by -2.8% over the past 5 years. Freeport, IL is a moderately popular place for families, as children make up 19.5% of the population. The area has a poorly educated workforce, with 20.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,100 | -2.8% |
% Under 18 | 19.5% | -9.7% |
% Seniors | 24.3% | 10.0% |
% WFH | 9.0% | 69.8% |
% w/ College Degree | 20.2% | 4.1% |
As of the latest ACS Survey released in 2023, Freeport, IL is a predominantly white area, with 72.8% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Freeport, IL is black, making up 12.4% of the population. Foreign-born residents account for 2.6% of the population in Freeport, IL, and this percentage has decreased by 3.7% 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 | 72.8% | -4.5% |
% Black | 12.4% | -15.1% |
% Hispanic | 6.2% | 31.9% |
% Asian | 1.1% | 0.0% |
% Foreign Born | 2.6% | -3.7% |
Mortgage and Risk — Freeport, IL
According to HUD data as of 2023, there were 379 mortgage originations in Freeport, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Freeport, IL. Investor activity is low, as 5.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 379 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Freeport, IL
Freeport, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 854 |
Total Units Section 8 | 519 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 84.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $650 | $670 |
| 2 Bedroom | $80 | $800 | $880 |
| 3 Bedroom | $195 | $875 | $1,070 |
| 4 Bedroom | $140 | $1,100 | $1,240 |
Affordability — Freeport, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $120,000 |
| Median Household Income | $54,200 |