Roanoke, IL—61561
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Roanoke, IL
As of Oct '25, the median home price in Roanoke, IL is $165,000, with a year-over-year change of 12.2%. This indicates that home prices in Roanoke, IL are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | 12.2% |
| Single Family | $165,000 | 12.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $167,000 | 6.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Roanoke, IL
Roanoke, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Roanoke, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Roanoke, IL is 55. This is a increase of 42.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $170,000 | 22.0% |
Listing Count | 7 | -38.0% |
| Listings as % of Homes | 0.4% | -38.0% |
Days on Market | 55 | 42.0% |
Demographics — Roanoke, IL
As of the latest ACS Survey released in 2023, Roanoke, IL has a population of 2,310, which has decreased by -6.3% over the past 5 years. Roanoke, IL is a moderately popular place for families, as children make up 24.0% of the population. The area has a poorly educated workforce, with 24.6% 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 | 2,310 | -6.3% |
% Under 18 | 24.0% | 17.1% |
% Seniors | 24.8% | 2.9% |
% WFH | 10.2% | 410.0% |
% w/ College Degree | 24.6% | 50.0% |
As of the latest ACS Survey released in 2023, Roanoke, IL is a predominantly white area, with 87.9% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Roanoke, IL is hispanic, making up 10.5% of the population. Foreign-born residents account for 0.7% of the population in Roanoke, IL, and this percentage has increased by 75.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.9% | -8.2% |
% Black | 0.1% | -80.0% |
% Hispanic | 10.5% | 218.2% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.7% | 75.0% |
Mortgage and Risk — Roanoke, IL
According to HUD data as of 2023, there were 48 mortgage originations in Roanoke, IL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Roanoke, IL. Investor activity is low, as 2.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 48 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Roanoke, IL
Roanoke, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 32 |
Total Units Section 8 | 32 |
% Rentals under Section 8 | 17.1% |
% Occupied Section 8 | 64.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $1,010 |
| 3 Bedroom | N/A | N/A | $1,310 |
| 4 Bedroom | N/A | N/A | $1,370 |
Affordability — Roanoke, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $165,000 |
| Median Household Income | $77,100 |