Rockford, IL—61108
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 $177,000, with a year-over-year change of 6.9%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 4.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $177,000 | 6.9% |
| Single Family | $173,000 | 6.8% |
| Condos | $215,000 | 8.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $157,000 | 8.3% |
3 Bed | $177,000 | 7.3% |
4 Bed | $215,000 | 6.4% |
| 5 Bed | $268,000 | 5.5% |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,500, with a year-over-year rent change of 31.6%. Per bedroom, the median rent as of July '25 in Rockford, IL is 1-bedrooms: $916, 2-bedrooms: $1,320, 3-bedrooms: $1,800, 4-bedrooms: $1,950. The most common rental property sizes in Rockford, IL are 2-bedroom and 3-bedroom, accounting for 37.6% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $916 |
| 2 Bed Rent | $1,200 | $1,320 |
| 3 Bed Rent | $1,720 | $1,800 |
| 4 Bed Rent | $1,500 | $1,950 |
% 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 25. This is a increase of 87.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $204,000 | 9.0% |
Listing Count | 70 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 25 | 87.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 30,200, which has increased by 8.6% over the past 5 years. Rockford, IL is a moderately popular place for families, as children make up 22.5% of the population. The area has a poorly educated workforce, with 24.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,200 | 8.6% |
% Under 18 | 22.5% | 1.4% |
% Seniors | 20.6% | 7.3% |
% WFH | 9.8% | 216.1% |
% w/ College Degree | 24.4% | 8.4% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 57.0% of the population identifying as white. The white population has shrunk by 11.1% in the last 5 years. The second most common race or ethnicity in Rockford, IL is hispanic, making up 23.9% of the population. Foreign-born residents account for 14.6% of the population in Rockford, IL, and this percentage has increased by 25.9% 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 | 57.0% | -11.1% |
% Black | 10.8% | -18.8% |
% Hispanic | 23.9% | 63.7% |
% Asian | 4.8% | -2.0% |
% Foreign Born | 14.6% | 25.9% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 524 mortgage originations in Rockford, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 4.0% 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 | 524 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Rockford, IL
As of 2024, the percent of homes in Rockford, IL under the Section 8 program is 8.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Rockford, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 497 |
Total Units Section 8 | 322 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 74.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $85 | $825 | $910 |
| 2 Bedroom | -$10 | $1,200 | $1,190 |
| 3 Bedroom | -$150 | $1,720 | $1,570 |
| 4 Bedroom | $120 | $1,500 | $1,620 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $177,000 |
| Median Household Income | $63,000 |