Mount Morris, IL—61054
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mount Morris, IL
As of Oct '25, the median home price in Mount Morris, IL is $146,000, with a year-over-year change of 10.1%. This indicates that home prices in Mount Morris, IL are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $146,000 | 10.1% |
| Single Family | $145,000 | 9.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $119,000 | 9.2% |
3 Bed | $160,000 | 8.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mount Morris, IL
As of July '25, Rentcast reports the average rent in Mount Morris, IL is $1,190, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Mount Morris, IL is 1-bedrooms: $625, 2-bedrooms: $1,160, 4-bedrooms: $1,800. The most common rental property sizes in Mount Morris, IL are 1-bedroom and 2-bedroom, accounting for 36.6% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,190 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $625 | $625 |
| 2 Bed Rent | $950 | $1,160 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,800 | $1,800 |
% of Rental Stock
Property Listings — Mount Morris, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mount Morris, IL is 42. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 57.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $119,000 | 29.0% |
Listing Count | 7 | 27.0% |
| Listings as % of Homes | 0.6% | 27.0% |
Days on Market | 42 | -1.0% |
Demographics — Mount Morris, IL
As of the latest ACS Survey released in 2023, Mount Morris, IL has a population of 3,620, which has decreased by -1.6% over the past 5 years. Mount Morris, IL is a popular place for families, as children make up 25.4% of the population. The area has a poorly educated workforce, with 19.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,620 | -1.6% |
% Under 18 | 25.4% | 22.1% |
% Seniors | 30.7% | 43.5% |
% WFH | 5.7% | 96.6% |
% w/ College Degree | 19.1% | -23.9% |
As of the latest ACS Survey released in 2023, Mount Morris, IL is a predominantly white area, with 92.8% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Mount Morris, IL is hispanic, making up 2.2% of the population. Foreign-born residents account for 5.7% of the population in Mount Morris, IL, and this percentage has increased by 850.0% 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 | 92.8% | -3.7% |
% Black | 1.5% | ∞% |
% Hispanic | 2.2% | 0.0% |
% Asian | 0.2% | ∞% |
% Foreign Born | 5.7% | 850.0% |
Mortgage and Risk — Mount Morris, IL
According to HUD data as of 2023, there were 50 mortgage originations in Mount Morris, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Mount Morris, IL. Investor activity is low, as 6.0% 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 | 50 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Mount Morris, IL
Mount Morris, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 56 |
Total Units Section 8 | 56 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $135 | $625 | $760 |
| 2 Bedroom | $40 | $950 | $990 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | -$400 | $1,800 | $1,400 |
Affordability — Mount Morris, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $146,000 |
| Median Household Income | $43,900 |