Paw Paw, IL—61353
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paw Paw, IL
As of Oct '25, the median home price in Paw Paw, IL is $218,000, with a year-over-year change of 4.7%. This indicates that home prices in Paw Paw, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $218,000 | 4.7% |
| Single Family | $218,000 | 5.8% |
| 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 — Paw Paw, IL
Paw Paw, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $700 | $738 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $700 |
| 2 Bed Rent | $775 | $775 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Paw Paw, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Paw Paw, IL is 184. This is a increase of 102.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $275,000 | 6.0% |
Listing Count | 7 | 75.0% |
| Listings as % of Homes | 0.5% | 75.0% |
Days on Market | 184 | 102.0% |
Demographics — Paw Paw, IL
As of the latest ACS Survey released in 2023, Paw Paw, IL has a population of 1,220, which has increased by 1.5% over the past 5 years. Paw Paw, IL is a popular place for families, as children make up 30.3% of the population. The area has a poorly educated workforce, with 14.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,220 | 1.5% |
% Under 18 | 30.3% | 51.5% |
% Seniors | 15.8% | -20.6% |
% WFH | 8.6% | 196.6% |
% w/ College Degree | 14.6% | -5.8% |
As of the latest ACS Survey released in 2023, Paw Paw, IL is a predominantly white area, with 97.8% of the population identifying as white. The white population has grown by 3.2% in the last 5 years. The second most common race or ethnicity in Paw Paw, IL is hispanic, making up 1.1% of the population. Foreign-born residents account for 0.7% of the population in Paw Paw, IL, and this percentage has decreased by 53.3% 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 | 97.8% | 3.2% |
% Black | 0.2% | ∞% |
% Hispanic | 1.1% | -74.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.7% | -53.3% |
Mortgage and Risk — Paw Paw, IL
According to HUD data as of 2023, there were 48 mortgage originations in Paw Paw, IL, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Paw Paw, IL. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 48 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 0.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Paw Paw, IL
Paw Paw, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $700 | $920 |
| 2 Bedroom | $425 | $775 | $1,200 |
| 3 Bedroom | N/A | N/A | $1,690 |
| 4 Bedroom | N/A | N/A | $2,040 |
Affordability — Paw Paw, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $218,000 |
| Median Household Income | $64,700 |