Kewanee, IL—61443
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Kewanee, IL
As of Oct '25, the median home price in Kewanee, IL is $73,000, with a year-over-year change of 1.8%. This indicates that home prices in Kewanee, 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 | $73,000 | 1.8% |
| Single Family | $74,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $58,000 | 3.6% |
3 Bed | $79,000 | 3.9% |
4 Bed | $96,000 | 6.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Kewanee, IL
As of July '25, Rentcast reports the average rent in Kewanee, IL is $690, with a year-over-year rent change of 38.0%. Per bedroom, the median rent as of July '25 in Kewanee, IL is 2-bedrooms: $722, 3-bedrooms: $625. The most common rental property sizes in Kewanee, IL are 3-bedroom and 2-bedroom, accounting for 31.2% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $695 | $690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $695 | $722 |
| 3 Bed Rent | $625 | $625 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Kewanee, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Kewanee, IL is 47. This is a decrease of -5.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $110,000 | 24.0% |
Listing Count | 37 | 2.0% |
| Listings as % of Homes | 0.3% | 2.0% |
Days on Market | 47 | -5.0% |
Demographics — Kewanee, IL
As of the latest ACS Survey released in 2023, Kewanee, IL has a population of 13,500, which has remained stable by -1.0% over the past 5 years. Kewanee, IL is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 16.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,500 | -1.0% |
% Under 18 | 20.6% | -10.8% |
% Seniors | 22.8% | 21.3% |
% WFH | 6.8% | 240.0% |
% w/ College Degree | 16.1% | 0.0% |
As of the latest ACS Survey released in 2023, Kewanee, IL is a predominantly white area, with 79.4% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Kewanee, IL is hispanic, making up 11.2% of the population. Foreign-born residents account for 3.5% of the population in Kewanee, IL, and this percentage has decreased by 16.7% 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 | 79.4% | -3.8% |
% Black | 6.5% | 38.3% |
% Hispanic | 11.2% | 9.8% |
% Asian | 0.1% | -91.7% |
% Foreign Born | 3.5% | -16.7% |
Mortgage and Risk — Kewanee, IL
According to HUD data as of 2023, there were 189 mortgage originations in Kewanee, IL, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Kewanee, IL. Investor activity is high, as 20.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 189 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 20.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Kewanee, IL
Kewanee, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 487 |
Total Units Section 8 | 128 |
% Rentals under Section 8 | 8.1% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | $245 | $695 | $940 |
| 3 Bedroom | $605 | $625 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,450 |
Affordability — Kewanee, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.2 |
| Median Home Price | $73,000 |
| Median Household Income | $51,300 |