Elmwood, IL 61529 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Elmwood, IL—61529

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$178,000

8.0% YoY Growth

Household Income

$89,500

26.5% YoY Growth

Days on Market

48.0% Shorter YoY

Home Price Forecast

2.7%

Median Rent

$800

6.5% YoY Growth

1-Bed Rent

$895

12.6% YoY Growth

2-Bed Rent

$750

13.7% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Elmwood, IL

As of Dec '25, the median home price in Elmwood, IL is $178,000, with a year-over-year change of 8.0%. This indicates that home prices in Elmwood, IL are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$178,000	8.0%
Single Family	$178,000	8.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Elmwood, IL

As of July '25, Rentcast reports the average rent in Elmwood, IL is $815, with a year-over-year rent change of -6.5%. Per bedroom, the median rent as of July '25 in Elmwood, IL is 1-bedrooms: $895, 2-bedrooms: $775. The most common rental property sizes in Elmwood, IL are 2-bedroom and 1-bedroom, accounting for 38.0% and 31.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$800	$815
Studio Rent	N/A	N/A
1 Bed Rent	$895	$895
2 Bed Rent	$750	$775
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

31.2%

2 Bedrooms

38.0%

3 Bedrooms

13.6%

4 Bedrooms

13.6%

5+ Bedrooms

3.6%

Property Listings — Elmwood, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Elmwood, IL is 23. This is a decrease of -44.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$205,000	82.0%
Listing Count	7	5.0%
Listings as % of Homes	0.4%	5.0%
Days on Market	45	-48.0%

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Demographics — Elmwood, IL

As of the latest ACS Survey released in 2023, Elmwood, IL has a population of 2,780, which has increased by 3.1% over the past 5 years. Elmwood, IL is a popular place for families, as children make up 30.0% of the population. The area has a moderately educated workforce, with 36.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,780	3.1%
% Under 18	30.0%	23.0%
% Seniors	17.4%	13.0%
% WFH	12.3%	412.5%
% w/ College Degree	36.1%	17.6%

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As of the latest ACS Survey released in 2023, Elmwood, IL is a predominantly white area, with 93.9% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Elmwood, IL is hispanic, making up 4.1% of the population. Foreign-born residents account for 0.5% of the population in Elmwood, IL, and this percentage has decreased by 66.7% 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	93.9%	-2.8%
% Black	0.0%	N/A
% Hispanic	4.1%	272.7%
% Asian	0.1%	-94.1%
% Foreign Born	0.5%	-66.7%

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Mortgage and Risk — Elmwood, IL

According to HUD data as of 2023, there were 83 mortgage originations in Elmwood, IL, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood, IL. Investor activity is low, as 4.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	83
% Conventional Loans	86.0%
% Government Loans	14.0%
% Investor Loans	4.0%
% Second Loans	0.0%
% Cash Out Refinance	4.0%

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Rentals and Section 8 — Elmwood, IL

Elmwood, 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	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$205	$895	$690
2 Bedroom	$120	$750	$870
3 Bedroom	N/A	N/A	$1,140
4 Bedroom	N/A	N/A	$1,180

Elmwood, IL—61529

Key Metrics at a Glance

Home Price Trends — Elmwood, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elmwood, IL

% of Rental Stock

Property Listings — Elmwood, IL

Demographics — Elmwood, IL

Race and Ethnicity

Mortgage and Risk — Elmwood, IL

Mortgages

Rentals and Section 8 — Elmwood, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Elmwood, IL

Home Price to Income Ratio

Elmwood, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Brimfield, IL

Yates City, IL

Trivoli, IL

Farmington, IL

Laura, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.7
Median Home Price	$178,000
Median Household Income	$89,500

Elmwood, IL—61529

Key Metrics at a Glance

Home Price Trends — Elmwood, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elmwood, IL

% of Rental Stock

Property Listings — Elmwood, IL

Demographics — Elmwood, IL

Race and Ethnicity

Mortgage and Risk — Elmwood, IL

Mortgages

Rentals and Section 8 — Elmwood, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Elmwood, IL

Home Price to Income Ratio

Elmwood, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Brimfield, IL

Yates City, IL

Trivoli, IL

Farmington, IL

Laura, IL

Frequently Asked Questions

What is the average home price in Elmwood, IL 61529?

How have home prices in Elmwood, IL 61529 changed over the past year?

What is the home price projection for Elmwood, IL 61529?

What are the demographics of Elmwood, IL 61529?

How long does it take homes to sell in Elmwood, IL 61529?

What is the average rent price in Elmwood, IL 61529?