Washington, IL 61571 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Washington, IL—61571

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$234,000

7.2% YoY Growth

Household Income

$87,900

24.1% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

1.2%

Median Rent

$1,150

2.0% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$900

4.6% YoY Growth

3-Bed Rent

$1,450

7.3% YoY Growth

Home Price Trends — Washington, IL

As of May '26, the median home price in Washington, IL is $234,000, with a year-over-year change of 7.2%. This indicates that home prices in Washington, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$234,000	7.2%
Single Family	$236,000	6.8%
Condos	$205,000	8.5%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Washington, IL

As of July '25, Rentcast reports the average rent in Washington, IL is $1,450, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Washington, IL is 2-bedrooms: $1,040, 3-bedrooms: $1,770, 4-bedrooms: $2,900. The most common rental property sizes in Washington, IL are 2-bedroom and 1-bedroom, accounting for 36.6% and 27.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,150	$1,450
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$900	$1,040
3 Bed Rent	$1,450	$1,770
4 Bed Rent	$2,900	$2,900

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% of Rental Stock

Studio

5.4%

1 Bedroom

27.9%

2 Bedrooms

36.6%

3 Bedrooms

23.0%

4 Bedrooms

3.9%

5+ Bedrooms

3.3%

Property Listings — Washington, IL

As of May '26, Realtor.com reports that the median days on market for a home in Washington, IL is 30. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$308,000	-17.0%
Listing Count	54	-8.0%
Listings as % of Homes	0.5%	-8.0%
Days on Market	30	-1.0%

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Demographics — Washington, IL

As of the latest ACS Survey released in 2023, Washington, IL has a population of 24,500, which has decreased by -1.7% over the past 5 years. Washington, IL is a popular place for families, as children make up 26.3% of the population. The area has a moderately educated workforce, with 38.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,500	-1.7%
% Under 18	26.3%	-1.5%
% Seniors	18.2%	14.5%
% WFH	13.5%	350.0%
% w/ College Degree	38.2%	6.7%

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As of the latest ACS Survey released in 2023, Washington, IL is a predominantly white area, with 93.5% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Washington, IL is hispanic, making up 2.8% of the population. Foreign-born residents account for 1.6% of the population in Washington, IL, and this percentage has decreased by 33.3% 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	93.5%	0.3%
% Black	0.3%	-75.0%
% Hispanic	2.8%	40.0%
% Asian	1.2%	-40.0%
% Foreign Born	1.6%	-33.3%

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Mortgage and Risk — Washington, IL

According to HUD data as of 2023, there were 457 mortgage originations in Washington, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Washington, IL. Investor activity is low, as 2.0% 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	457
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	4.0%

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Rentals and Section 8 — Washington, IL

Washington, IL lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	401
Total Units Section 8	401
% Rentals under Section 8	21.5%
% Occupied Section 8	93.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$830
2 Bedroom	$150	$900	$1,050
3 Bedroom	-$90	$1,450	$1,360
4 Bedroom	-$1,470	$2,900	$1,430

Washington, IL—61571

Key Metrics at a Glance

Home Price Trends — Washington, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Washington, IL

% of Rental Stock

Property Listings — Washington, IL

Demographics — Washington, IL

Race and Ethnicity

Mortgage and Risk — Washington, IL

Mortgages

Rentals and Section 8 — Washington, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Washington, IL

Home Price to Income Ratio

Washington, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Morton, IL

Oak Ridge, IL

East Peoria, IL

Mackinaw, IL

Peoria, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.2
Median Home Price	$234,000
Median Household Income	$87,900

Washington, IL—61571

Key Metrics at a Glance

Home Price Trends — Washington, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Washington, IL

% of Rental Stock

Property Listings — Washington, IL

Demographics — Washington, IL

Race and Ethnicity

Mortgage and Risk — Washington, IL

Mortgages

Rentals and Section 8 — Washington, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Washington, IL

Home Price to Income Ratio

Washington, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Morton, IL

Oak Ridge, IL

East Peoria, IL

Mackinaw, IL

Peoria, IL

Frequently Asked Questions

What is the average home price in Washington, IL 61571?

How have home prices in Washington, IL 61571 changed over the past year?

What is the home price projection for Washington, IL 61571?

What are the demographics of Washington, IL 61571?

How long does it take homes to sell in Washington, IL 61571?

What is the average rent price in Washington, IL 61571?