Lena, IL—61048
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lena, IL
As of Oct '25, the median home price in Lena, IL is $199,000, with a year-over-year change of 6.8%. This indicates that home prices in Lena, IL are increasing. According to Zillow, the 1-year price projection is 4.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $199,000 | 6.8% |
| Single Family | $197,000 | 7.1% |
| 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 | $199,000 | 7.0% |
4 Bed | $226,000 | 7.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lena, IL
As of July '25, Rentcast reports the average rent in Lena, IL is $700, with a year-over-year rent change of 2.8%. Per bedroom, the median rent as of July '25 in Lena, IL is 1-bedrooms: $700. The most common rental property sizes in Lena, IL are 1-bedroom and 2-bedroom, accounting for 39.8% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $700 | $700 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $700 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lena, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lena, IL is 78. This is a decrease of -23.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $227,000 | -2.0% |
Listing Count | 13 | 56.0% |
| Listings as % of Homes | 0.5% | 56.0% |
Days on Market | 78 | -23.0% |
Demographics — Lena, IL
As of the latest ACS Survey released in 2023, Lena, IL has a population of 3,850, which has remained stable by -0.7% over the past 5 years. Lena, IL is a moderately popular place for families, as children make up 22.9% of the population. The area has a moderately educated workforce, with 27.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,850 | -0.7% |
% Under 18 | 22.9% | 10.6% |
% Seniors | 26.6% | 5.1% |
% WFH | 10.4% | 116.7% |
% w/ College Degree | 27.6% | 54.2% |
As of the latest ACS Survey released in 2023, Lena, IL is a predominantly white area, with 96.8% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Lena, IL is hispanic, making up 1.0% of the population. Foreign-born residents account for 0.6% of the population in Lena, IL, and this percentage has decreased by 57.1% 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 | 96.8% | -0.4% |
% Black | 0.1% | -85.7% |
% Hispanic | 1.0% | -47.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.6% | -57.1% |
Mortgage and Risk — Lena, IL
According to HUD data as of 2023, there were 27 mortgage originations in Lena, IL, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Lena, IL. Investor activity is low, as 4.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 27 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 22.0% |
Loan Activity
Rentals and Section 8 — Lena, IL
Lena, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $700 | $660 |
| 2 Bedroom | N/A | N/A | $870 |
| 3 Bedroom | N/A | N/A | $1,060 |
| 4 Bedroom | N/A | N/A | $1,220 |
Affordability — Lena, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $199,000 |
| Median Household Income | $87,600 |