Normal, IL—61761
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Normal, IL
As of Oct '25, the median home price in Normal, IL is $258,000, with a year-over-year change of 4.6%. This indicates that home prices in Normal, IL are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $258,000 | 4.6% |
| Single Family | $261,000 | 4.0% |
| Condos | $184,000 | 1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $169,000 | 7.0% |
3 Bed | $242,000 | 4.3% |
4 Bed | $307,000 | 4.8% |
| 5 Bed | $390,000 | 2.9% |
% of Housing Stock
Rental Trends — Normal, IL
As of July '25, Rentcast reports the average rent in Normal, IL is $1,580, with a year-over-year rent change of 8.2%. Per bedroom, the median rent as of July '25 in Normal, IL is studios: $750, 1-bedrooms: $1,070, 2-bedrooms: $1,370, 3-bedrooms: $1,890, 4-bedrooms: $2,220. The most common rental property sizes in Normal, IL are 2-bedroom and 4-bedroom, accounting for 37.6% and 21.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,620 | $1,580 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $900 | $1,070 |
| 2 Bed Rent | $1,130 | $1,370 |
| 3 Bed Rent | $1,850 | $1,890 |
| 4 Bed Rent | $2,100 | $2,220 |
% of Rental Stock
Property Listings — Normal, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Normal, IL is 42. This is a decrease of -6.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $298,000 | -10.0% |
Listing Count | 102 | -1.0% |
| Listings as % of Homes | 0.3% | -1.0% |
Days on Market | 42 | -6.0% |
Demographics — Normal, IL
As of the latest ACS Survey released in 2023, Normal, IL has a population of 53,400, which has decreased by -3.3% over the past 5 years. Normal, IL is a moderately popular place for families, as children make up 16.9% of the population. The area has a highly educated workforce, with 52.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,400 | -3.3% |
% Under 18 | 16.9% | -7.1% |
% Seniors | 11.8% | 19.2% |
% WFH | 12.5% | 166.0% |
% w/ College Degree | 52.5% | 7.6% |
As of the latest ACS Survey released in 2023, Normal, IL is a predominantly white area, with 75.5% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Normal, IL is black, making up 11.4% of the population. Foreign-born residents account for 7.4% of the population in Normal, IL, and this percentage has increased by 17.5% 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 | 75.5% | -2.3% |
% Black | 11.4% | 0.9% |
% Hispanic | 7.0% | 32.1% |
% Asian | 3.9% | -11.4% |
% Foreign Born | 7.4% | 17.5% |
Mortgage and Risk — Normal, IL
According to HUD data as of 2023, there were 658 mortgage originations in Normal, IL, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Normal, 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 | 658 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Normal, IL
As of 2024, the percent of homes in Normal, IL under the Section 8 program is 5.8%. 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. In Normal, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 521 |
Total Units Section 8 | 521 |
% Rentals under Section 8 | 5.8% |
% Occupied Section 8 | 83.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$110 | $900 | $790 |
| 2 Bedroom | -$120 | $1,130 | $1,010 |
| 3 Bedroom | -$460 | $1,850 | $1,390 |
| 4 Bedroom | -$710 | $2,100 | $1,390 |
Affordability — Normal, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $258,000 |
| Median Household Income | $66,600 |