Hopedale, IL—61747
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hopedale, IL
As of Oct '25, the median home price in Hopedale, IL is $183,000, with a year-over-year change of 10.0%. This indicates that home prices in Hopedale, IL are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $183,000 | 10.0% |
| Single Family | $184,000 | 9.5% |
| 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 | $198,000 | 9.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hopedale, IL
Hopedale, 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 — Hopedale, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Hopedale, IL is 20. This is a decrease of -65.0% 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 133.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $199,000 | -50.0% |
Listing Count | 3 | -12.0% |
| Listings as % of Homes | 0.3% | -12.0% |
Days on Market | 20 | -65.0% |
Demographics — Hopedale, IL
As of the latest ACS Survey released in 2023, Hopedale, IL has a population of 1,500, which has increased by 1.7% over the past 5 years. Hopedale, IL is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 28.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,500 | 1.7% |
% Under 18 | 20.1% | -7.8% |
% Seniors | 19.9% | -16.7% |
% WFH | 9.1% | 225.0% |
% w/ College Degree | 28.4% | 24.0% |
As of the latest ACS Survey released in 2023, Hopedale, IL is a predominantly white area, with 93.2% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Hopedale, IL is black, making up 4.3% of the population. Foreign-born residents account for 3.4% of the population in Hopedale, IL, and this percentage has increased by 750.0% 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 | 93.2% | -5.1% |
% Black | 4.3% | 4,200.0% |
% Hispanic | 0.9% | -18.2% |
% Asian | 0.0% | N/A |
% Foreign Born | 3.4% | 750.0% |
Mortgage and Risk — Hopedale, IL
According to HUD data as of 2023, there were 72 mortgage originations in Hopedale, IL, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Hopedale, IL. Investor activity is low, as 7.0% 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 | 72 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Hopedale, IL
Hopedale, 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 | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $970 |
| 3 Bedroom | N/A | N/A | $1,260 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Hopedale, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $183,000 |
| Median Household Income | $80,800 |