Morton, IL 61550 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Morton, IL—61550

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$288,000

7.0% YoY Growth

Household Income

$92,300

20.1% YoY Growth

Days on Market

32.0% Longer YoY

Home Price Forecast

1.1%

Median Rent

$1,400

22.9% YoY Growth

1-Bed Rent

$675

N/A

2-Bed Rent

$1,400

33.0% YoY Growth

3-Bed Rent

$2,500

19.0% YoY Growth

Home Price Trends — Morton, IL

As of May '26, the median home price in Morton, IL is $288,000, with a year-over-year change of 7.0%. This indicates that home prices in Morton, IL are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$288,000	7.0%
Single Family	$291,000	7.0%
Condos	$221,000	9.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Morton, IL

As of July '25, Rentcast reports the average rent in Morton, IL is $1,580, with a year-over-year rent change of -22.9%. Per bedroom, the median rent as of July '25 in Morton, IL is 1-bedrooms: $675, 2-bedrooms: $1,340, 3-bedrooms: $2,500, 4-bedrooms: $2,300. The most common rental property sizes in Morton, IL are 2-bedroom and 1-bedroom, accounting for 44.9% and 25.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,580
Studio Rent	N/A	N/A
1 Bed Rent	$675	$675
2 Bed Rent	$1,400	$1,340
3 Bed Rent	$2,500	$2,500
4 Bed Rent	$2,300	$2,300

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% of Rental Stock

Studio

6.3%

1 Bedroom

25.8%

2 Bedrooms

44.9%

3 Bedrooms

18.1%

4 Bedrooms

4.7%

5+ Bedrooms

0.2%

Property Listings — Morton, IL

As of May '26, Realtor.com reports that the median days on market for a home in Morton, IL is 29. 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 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	$333,000	23.0%
Listing Count	28	5.0%
Listings as % of Homes	0.2%	5.0%
Days on Market	29	32.0%

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Demographics — Morton, IL

As of the latest ACS Survey released in 2023, Morton, IL has a population of 18,700, which has increased by 5.1% over the past 5 years. Morton, IL is a moderately popular place for families, as children make up 24.5% of the population. The area has a moderately educated workforce, with 40.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	18,700	5.1%
% Under 18	24.5%	0.4%
% Seniors	22.9%	9.0%
% WFH	10.2%	292.3%
% w/ College Degree	40.3%	-9.2%

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As of the latest ACS Survey released in 2023, Morton, IL is a predominantly white area, with 92.0% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Morton, IL is asian, making up 2.8% of the population. Foreign-born residents account for 2.4% of the population in Morton, IL, and this percentage has decreased by 14.3% 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	92.0%	-2.1%
% Black	0.4%	-69.2%
% Hispanic	2.1%	-30.0%
% Asian	2.8%	115.4%
% Foreign Born	2.4%	-14.3%

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Mortgage and Risk — Morton, IL

According to HUD data as of 2023, there were 295 mortgage originations in Morton, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Morton, IL. Investor activity is low, as 2.0% 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	295
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Morton, IL

As of 2024, the percent of homes in Morton, IL under the Section 8 program is 8.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Morton, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	132
Total Units Section 8	132
% Rentals under Section 8	8.4%
% Occupied Section 8	95.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$205	$675	$880
2 Bedroom	-$280	$1,400	$1,120
3 Bedroom	-$1,050	$2,500	$1,450
4 Bedroom	-$780	$2,300	$1,520

Morton, IL—61550

Key Metrics at a Glance

Home Price Trends — Morton, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morton, IL

% of Rental Stock

Property Listings — Morton, IL

Demographics — Morton, IL

Race and Ethnicity

Mortgage and Risk — Morton, IL

Mortgages

Rentals and Section 8 — Morton, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morton, IL

Home Price to Income Ratio

Morton, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Groveland, IL

Washington, IL

Mackinaw, IL

Tremont, IL

Mackinaw, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$288,000
Median Household Income	$92,300

Morton, IL—61550

Key Metrics at a Glance

Home Price Trends — Morton, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morton, IL

% of Rental Stock

Property Listings — Morton, IL

Demographics — Morton, IL

Race and Ethnicity

Mortgage and Risk — Morton, IL

Mortgages

Rentals and Section 8 — Morton, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morton, IL

Home Price to Income Ratio

Morton, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Groveland, IL

Washington, IL

Mackinaw, IL

Tremont, IL

Mackinaw, IL

Frequently Asked Questions

What is the average home price in Morton, IL 61550?

How have home prices in Morton, IL 61550 changed over the past year?

What is the home price projection for Morton, IL 61550?

What are the demographics of Morton, IL 61550?

How long does it take homes to sell in Morton, IL 61550?

What is the average rent price in Morton, IL 61550?