Ottawa, IL—61350
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ottawa, IL
Ottawa, IL lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $202,000 | 10.6% |
| Single Family | $202,000 | 11.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $155,000 | 11.5% |
3 Bed | $207,000 | 10.7% |
4 Bed | $283,000 | 8.4% |
| 5 Bed | $344,000 | 8.2% |
% of Housing Stock
Rental Trends — Ottawa, IL
As of July '25, Rentcast reports the average rent in Ottawa, IL is $1,510, with a year-over-year rent change of 29.1%. Per bedroom, the median rent as of July '25 in Ottawa, IL is studios: $1,100, 1-bedrooms: $1,150, 2-bedrooms: $1,500, 3-bedrooms: $1,760, 4-bedrooms: $2,400. The most common rental property sizes in Ottawa, IL are 2-bedroom and 1-bedroom, accounting for 50.2% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,510 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $895 | $1,150 |
| 2 Bed Rent | $1,450 | $1,500 |
| 3 Bed Rent | $1,650 | $1,760 |
| 4 Bed Rent | $2,400 | $2,400 |
% of Rental Stock
Property Listings — Ottawa, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Ottawa, IL is 40. This is a decrease of -15.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 8.0% |
Listing Count | 95 | 14.0% |
| Listings as % of Homes | 0.4% | 14.0% |
Days on Market | 40 | -15.0% |
Demographics — Ottawa, IL
As of the latest ACS Survey released in 2023, Ottawa, IL has a population of 24,000, which has remained stable by 0.7% over the past 5 years. Ottawa, IL is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 21.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | 0.7% |
% Under 18 | 23.5% | 4.0% |
% Seniors | 18.4% | 2.2% |
% WFH | 4.0% | -2.4% |
% w/ College Degree | 21.6% | 8.0% |
As of the latest ACS Survey released in 2023, Ottawa, IL is a predominantly white area, with 85.4% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Ottawa, IL is hispanic, making up 8.6% of the population. Foreign-born residents account for 2.2% of the population in Ottawa, IL, and this percentage has decreased by 45.0% 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 | 85.4% | 0.2% |
% Black | 2.3% | -32.4% |
% Hispanic | 8.6% | 3.6% |
% Asian | 0.9% | 0.0% |
% Foreign Born | 2.2% | -45.0% |
Mortgage and Risk — Ottawa, IL
According to HUD data as of 2023, there were 301 mortgage originations in Ottawa, IL, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Ottawa, IL. Investor activity is low, as 5.0% 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 | 301 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Ottawa, IL
Ottawa, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 552 |
Total Units Section 8 | 250 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$75 | $895 | $820 |
| 2 Bedroom | -$370 | $1,450 | $1,080 |
| 3 Bedroom | -$200 | $1,650 | $1,450 |
| 4 Bedroom | -$760 | $2,400 | $1,640 |
Affordability — Ottawa, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $202,000 |
| Median Household Income | $77,600 |