Canton, IL—61520
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Canton, IL
As of Oct '25, the median home price in Canton, IL is $101,000, with a year-over-year change of 1.1%. This indicates that home prices in Canton, IL are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $101,000 | 1.1% |
| Single Family | $101,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $80,000 | 3.9% |
3 Bed | $127,000 | 4.1% |
4 Bed | $158,000 | 5.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Canton, IL
As of July '25, Rentcast reports the average rent in Canton, IL is $699, with a year-over-year rent change of -8.7%. Per bedroom, the median rent as of July '25 in Canton, IL is studios: $800, 1-bedrooms: $600, 2-bedrooms: $548, 3-bedrooms: $1,000. The most common rental property sizes in Canton, IL are 2-bedroom and 3-bedroom, accounting for 40.0% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $699 |
| Studio Rent | $800 | $800 |
| 1 Bed Rent | $600 | $600 |
| 2 Bed Rent | $295 | $548 |
| 3 Bed Rent | $1,000 | $1,000 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Canton, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Canton, IL is 57. This is a increase of 32.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $113,000 | 35.0% |
Listing Count | 65 | 32.0% |
| Listings as % of Homes | 0.7% | 32.0% |
Days on Market | 57 | 32.0% |
Demographics — Canton, IL
As of the latest ACS Survey released in 2023, Canton, IL has a population of 16,100, which has decreased by -4.2% over the past 5 years. Canton, IL is a moderately popular place for families, as children make up 16.7% of the population. The area has a poorly educated workforce, with 16.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,100 | -4.2% |
% Under 18 | 16.7% | -6.7% |
% Seniors | 21.5% | 10.8% |
% WFH | 3.6% | 111.8% |
% w/ College Degree | 16.5% | -6.8% |
As of the latest ACS Survey released in 2023, Canton, IL is a predominantly white area, with 87.8% of the population identifying as white. The white population has grown by 1.2% in the last 5 years. The second most common race or ethnicity in Canton, IL is black, making up 4.9% of the population. Foreign-born residents account for 1.7% of the population in Canton, IL, and this percentage has decreased by 34.6% 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 | 87.8% | 1.2% |
% Black | 4.9% | -30.0% |
% Hispanic | 4.0% | -14.9% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 1.7% | -34.6% |
Mortgage and Risk — Canton, IL
According to HUD data as of 2023, there were 295 mortgage originations in Canton, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Canton, IL. Investor activity is low, as 11.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 295 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 11.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Canton, IL
Canton, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 548 |
Total Units Section 8 | 264 |
% Rentals under Section 8 | 14.8% |
% Occupied Section 8 | 90.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $600 | $690 |
| 2 Bedroom | $585 | $295 | $880 |
| 3 Bedroom | $210 | $1,000 | $1,210 |
| 4 Bedroom | N/A | N/A | $1,280 |
Affordability — Canton, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $101,000 |
| Median Household Income | $56,600 |