Machesney Park, IL—61115
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Machesney Park, IL
As of Oct '25, the median home price in Machesney Park, IL is $194,000, with a year-over-year change of 7.2%. This indicates that home prices in Machesney Park, 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 | $194,000 | 7.2% |
| Single Family | $196,000 | 7.7% |
| Condos | $125,000 | 10.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | 4.1% |
3 Bed | $201,000 | 8.1% |
4 Bed | $270,000 | 6.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Machesney Park, IL
As of July '25, Rentcast reports the average rent in Machesney Park, IL is $1,530, with a year-over-year rent change of 8.5%. Per bedroom, the median rent as of July '25 in Machesney Park, IL is 1-bedrooms: $825, 2-bedrooms: $1,290, 3-bedrooms: $1,900. The most common rental property sizes in Machesney Park, IL are 3-bedroom and 2-bedroom, accounting for 48.6% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,530 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $825 |
| 2 Bed Rent | $1,300 | $1,290 |
| 3 Bed Rent | $1,800 | $1,900 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Machesney Park, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Machesney Park, IL is 33. This is a increase of 27.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $241,000 | 41.0% |
Listing Count | 67 | 10.0% |
| Listings as % of Homes | 0.4% | 10.0% |
Days on Market | 33 | 27.0% |
Demographics — Machesney Park, IL
As of the latest ACS Survey released in 2023, Machesney Park, IL has a population of 22,400, which has remained stable by -0.7% over the past 5 years. Machesney Park, IL is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,400 | -0.7% |
% Under 18 | 23.1% | 1.8% |
% Seniors | 16.9% | 21.6% |
% WFH | 7.6% | 280.0% |
% w/ College Degree | 18.1% | 22.3% |
As of the latest ACS Survey released in 2023, Machesney Park, IL is a predominantly white area, with 80.4% of the population identifying as white. The white population has shrunk by 8.3% in the last 5 years. The second most common race or ethnicity in Machesney Park, IL is hispanic, making up 11.0% of the population. Foreign-born residents account for 4.7% of the population in Machesney Park, IL, and this percentage has increased by 27.0% 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 | 80.4% | -8.3% |
% Black | 2.1% | 16.7% |
% Hispanic | 11.0% | 86.4% |
% Asian | 1.8% | -5.3% |
% Foreign Born | 4.7% | 27.0% |
Mortgage and Risk — Machesney Park, IL
According to HUD data as of 2023, there were 441 mortgage originations in Machesney Park, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Machesney Park, IL. Investor activity is low, as 2.0% 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 | 441 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Machesney Park, IL
Machesney Park, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 27 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | 76.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $215 | $825 | $1,040 |
| 2 Bedroom | $70 | $1,300 | $1,370 |
| 3 Bedroom | $10 | $1,800 | $1,810 |
| 4 Bedroom | N/A | N/A | $1,860 |
Affordability — Machesney Park, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $194,000 |
| Median Household Income | $73,800 |