Rockford, IL—61114
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 $257,000, with a year-over-year change of 6.5%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 3.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $257,000 | 6.5% |
| Single Family | $268,000 | 5.9% |
| Condos | $179,000 | 9.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $175,000 | 8.0% |
3 Bed | $243,000 | 6.6% |
4 Bed | $316,000 | 5.3% |
| 5 Bed | $368,000 | 3.4% |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,630, with a year-over-year rent change of 3.2%. Per bedroom, the median rent as of July '25 in Rockford, IL is 2-bedrooms: $1,480, 3-bedrooms: $1,900. The most common rental property sizes in Rockford, IL are 2-bedroom and 1-bedroom, accounting for 47.4% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,100 | $1,480 |
| 3 Bed Rent | $1,800 | $1,900 |
| 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 22. This is a increase of 37.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | 14.0% |
Listing Count | 32 | -32.0% |
| Listings as % of Homes | 0.4% | -32.0% |
Days on Market | 22 | 37.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 15,000, which has decreased by -3.6% over the past 5 years. Rockford, IL is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 47.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | -3.6% |
% Under 18 | 20.0% | 6.4% |
% Seniors | 25.6% | -3.4% |
% WFH | 12.1% | 132.7% |
% w/ College Degree | 47.5% | 14.2% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 72.3% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Rockford, IL is hispanic, making up 10.9% of the population. Foreign-born residents account for 9.6% of the population in Rockford, IL, and this percentage has increased by 7.9% 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 | 72.3% | -6.3% |
% Black | 10.5% | 25.0% |
% Hispanic | 10.9% | 32.9% |
% Asian | 4.1% | 24.2% |
% Foreign Born | 9.6% | 7.9% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 256 mortgage originations in Rockford, IL, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 256 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
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 | 266 |
Total Units Section 8 | 235 |
% Rentals under Section 8 | 13.0% |
% Occupied Section 8 | 90.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,120 |
| 2 Bedroom | $370 | $1,100 | $1,470 |
| 3 Bedroom | $140 | $1,800 | $1,940 |
| 4 Bedroom | N/A | N/A | $2,000 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $257,000 |
| Median Household Income | $83,500 |