Rockford, IL—61103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rockford, IL
As of Oct '25, the median home price in Rockford, IL is $141,000, with a year-over-year change of 5.5%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 4.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $141,000 | 5.5% |
| Single Family | $141,000 | 6.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $115,000 | 7.5% |
3 Bed | $140,000 | 6.1% |
4 Bed | $168,000 | 5.0% |
| 5 Bed | $232,000 | 3.6% |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,090, with a year-over-year rent change of 14.3%. Per bedroom, the median rent as of July '25 in Rockford, IL is studios: $958, 1-bedrooms: $846, 2-bedrooms: $1,140, 3-bedrooms: $1,440. The most common rental property sizes in Rockford, IL are 2-bedroom and 1-bedroom, accounting for 38.8% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $1,090 |
| Studio Rent | $850 | $958 |
| 1 Bed Rent | $850 | $846 |
| 2 Bed Rent | $1,000 | $1,140 |
| 3 Bed Rent | $1,450 | $1,440 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Rockford, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Rockford, IL is 46. This is a increase of 15.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $197,000 | 47.0% |
Listing Count | 60 | -24.0% |
| Listings as % of Homes | 0.5% | -24.0% |
Days on Market | 46 | 15.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 23,200, which has decreased by -3.0% over the past 5 years. Rockford, IL is a moderately popular place for families, as children make up 22.9% 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 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | -3.0% |
% Under 18 | 22.9% | 3.6% |
% Seniors | 18.7% | -2.1% |
% WFH | 5.9% | 18.0% |
% w/ College Degree | 20.2% | -9.0% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 55.7% of the population identifying as white. The white population has shrunk by 12.7% in the last 5 years. The second most common race or ethnicity in Rockford, IL is black, making up 25.1% of the population. Foreign-born residents account for 6.6% of the population in Rockford, IL, and this percentage has decreased by 12.0% 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 | 55.7% | -12.7% |
% Black | 25.1% | 19.5% |
% Hispanic | 12.3% | 6.0% |
% Asian | 0.5% | -37.5% |
% Foreign Born | 6.6% | -12.0% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 283 mortgage originations in Rockford, IL, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 7.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 283 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Rockford, IL
Rockford, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,440 |
Total Units Section 8 | 1,063 |
% Rentals under Section 8 | 20.9% |
% Occupied Section 8 | 76.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $850 | $850 |
| 2 Bedroom | $110 | $1,000 | $1,110 |
| 3 Bedroom | $20 | $1,450 | $1,470 |
| 4 Bedroom | N/A | N/A | $1,510 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $141,000 |
| Median Household Income | $47,400 |