Morrison, IL—61270
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morrison, IL
As of Oct '25, the median home price in Morrison, IL is $161,000, with a year-over-year change of 8.1%. This indicates that home prices in Morrison, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $161,000 | 8.1% |
| Single Family | $162,000 | 8.7% |
| Condos | $143,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $132,000 | 7.3% |
3 Bed | $181,000 | 9.0% |
4 Bed | $196,000 | 8.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morrison, IL
Morrison, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Morrison, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Morrison, IL is 47. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $138,000 | -20.0% |
Listing Count | 36 | -1.0% |
| Listings as % of Homes | 1.0% | -1.0% |
Days on Market | 47 | -23.0% |
Demographics — Morrison, IL
As of the latest ACS Survey released in 2023, Morrison, IL has a population of 7,070, which has remained stable by 0.9% over the past 5 years. Morrison, IL is a moderately popular place for families, as children make up 24.4% of the population. The area has a moderately educated workforce, with 30.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,070 | 0.9% |
% Under 18 | 24.4% | 20.2% |
% Seniors | 20.7% | -10.0% |
% WFH | 10.4% | 285.2% |
% w/ College Degree | 30.2% | 44.5% |
As of the latest ACS Survey released in 2023, Morrison, IL is a predominantly white area, with 92.2% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Morrison, IL is hispanic, making up 3.8% of the population. Foreign-born residents account for 1.6% of the population in Morrison, IL, and this percentage has decreased by 20.0% 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 | 92.2% | -4.9% |
% Black | 1.0% | 150.0% |
% Hispanic | 3.8% | 216.7% |
% Asian | 0.2% | -66.7% |
% Foreign Born | 1.6% | -20.0% |
Mortgage and Risk — Morrison, IL
According to HUD data as of 2023, there were 69 mortgage originations in Morrison, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Morrison, IL. Investor activity is low, as 12.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 12.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Morrison, IL
Morrison, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 19 |
Total Units Section 8 | 19 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $770 |
| 2 Bedroom | N/A | N/A | $1,010 |
| 3 Bedroom | N/A | N/A | $1,260 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Morrison, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $161,000 |
| Median Household Income | $82,800 |