Sherrard, IL—61281
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sherrard, IL
As of Oct '25, the median home price in Sherrard, IL is $244,000, with a year-over-year change of 5.9%. This indicates that home prices in Sherrard, IL are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $244,000 | 5.9% |
| Single Family | $245,000 | 7.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Sherrard, IL
Sherrard, 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 — Sherrard, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Sherrard, IL is 38. This is a increase of 29.0% 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 | $287,000 | 26.0% |
Listing Count | 12 | 54.0% |
| Listings as % of Homes | 0.5% | 54.0% |
Days on Market | 38 | 29.0% |
Demographics — Sherrard, IL
As of the latest ACS Survey released in 2023, Sherrard, IL has a population of 2,610, which has increased by 9.0% over the past 5 years. Sherrard, IL is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 24.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,610 | 9.0% |
% Under 18 | 19.2% | 4.3% |
% Seniors | 17.4% | -12.6% |
% WFH | 5.7% | 50.0% |
% w/ College Degree | 24.1% | -2.8% |
As of the latest ACS Survey released in 2023, Sherrard, IL is a predominantly white area, with 94.6% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Sherrard, IL is hispanic, making up 3.6% of the population. Foreign-born residents account for 1.4% of the population in Sherrard, IL, and this percentage has increased by 180.0% 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 | 94.6% | -1.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 3.6% | 1,100.0% |
% Asian | 0.4% | 33.3% |
% Foreign Born | 1.4% | 180.0% |
Mortgage and Risk — Sherrard, IL
According to HUD data as of 2023, there were 96 mortgage originations in Sherrard, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Sherrard, IL. Investor activity is low, as 5.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 96 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Sherrard, IL
Sherrard, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 2.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $740 |
| 2 Bedroom | N/A | N/A | $910 |
| 3 Bedroom | N/A | N/A | $1,190 |
| 4 Bedroom | N/A | N/A | $1,400 |
Affordability — Sherrard, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $244,000 |
| Median Household Income | $96,300 |