Lacon, IL—61540
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lacon, IL
As of Oct '25, the median home price in Lacon, IL is $127,000, with a year-over-year change of 8.6%. This indicates that home prices in Lacon, IL are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $127,000 | 8.7% |
| Single Family | $127,000 | 8.5% |
| 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 | $164,000 | 6.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lacon, IL
As of July '25, Rentcast reports the average rent in Lacon, IL is $750, with a year-over-year rent change of 11.1%. Per bedroom, the median rent as of July '25 in Lacon, IL is 1-bedrooms: $705, 2-bedrooms: $795. The most common rental property sizes in Lacon, IL are 2-bedroom and 3-bedroom, accounting for 53.1% and 22.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $705 | $750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $705 | $705 |
| 2 Bed Rent | $795 | $795 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lacon, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lacon, IL is 24. This is a decrease of -37.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $152,000 | -21.0% |
Listing Count | 7 | -11.0% |
| Listings as % of Homes | 0.5% | -11.0% |
Days on Market | 24 | -37.0% |
Demographics — Lacon, IL
As of the latest ACS Survey released in 2023, Lacon, IL has a population of 2,700, which has decreased by -2.5% over the past 5 years. Lacon, IL is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,700 | -2.5% |
% Under 18 | 18.5% | -1.1% |
% Seniors | 25.0% | 14.2% |
% WFH | 7.0% | 1,650.0% |
% w/ College Degree | 19.4% | 38.6% |
As of the latest ACS Survey released in 2023, Lacon, IL is a predominantly white area, with 97.1% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Lacon, IL is black, making up 1.0% of the population. Foreign-born residents account for 0.3% of the population in Lacon, 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 | 97.1% | 0.4% |
% Black | 1.0% | 0.0% |
% Hispanic | 1.0% | -23.1% |
% Asian | 0.4% | 100.0% |
% Foreign Born | 0.3% | -66.7% |
Mortgage and Risk — Lacon, IL
According to HUD data as of 2023, there were 48 mortgage originations in Lacon, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Lacon, IL. Investor activity is low, as 0.0% 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 | 48 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lacon, IL
Lacon, 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 | $55 | $705 | $760 |
| 2 Bedroom | $165 | $795 | $960 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,310 |
Affordability — Lacon, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $127,000 |
| Median Household Income | $74,500 |