Cerro Gordo, IL—61818
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cerro Gordo, IL
As of Oct '25, the median home price in Cerro Gordo, IL is $149,000, with a year-over-year change of 8.9%. This indicates that home prices in Cerro Gordo, IL are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $149,000 | 8.9% |
| Single Family | $149,000 | 7.2% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cerro Gordo, IL
Cerro Gordo, 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 — Cerro Gordo, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Cerro Gordo, IL is 39. This is a decrease of -19.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $85,800 | -5.0% |
Listing Count | 4 | -7.0% |
| Listings as % of Homes | 0.8% | -7.0% |
Days on Market | 39 | -19.0% |
Demographics — Cerro Gordo, IL
As of the latest ACS Survey released in 2023, Cerro Gordo, IL has a population of 1,610, which has decreased by -6.1% over the past 5 years. Cerro Gordo, IL is a popular place for families, as children make up 27.9% of the population. The area has a poorly educated workforce, with 17.9% 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 | 1,610 | -6.1% |
% Under 18 | 27.9% | 17.2% |
% Seniors | 15.1% | -9.6% |
% WFH | 12.5% | 792.9% |
% w/ College Degree | 17.9% | -5.3% |
As of the latest ACS Survey released in 2023, Cerro Gordo, IL is a predominantly white area, with 94.5% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Cerro Gordo, IL is hispanic, making up 1.2% of the population. Foreign-born residents account for 0.0% of the population in Cerro Gordo, IL, and this percentage has decreased by 100.0% 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 | 94.5% | -3.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.2% | 1,100.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Cerro Gordo, IL
According to HUD data as of 2023, there were 37 mortgage originations in Cerro Gordo, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 85.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Cerro Gordo, IL. Investor activity is low, as 8.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Cerro Gordo, IL
Cerro Gordo, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 0 |
% Rentals under Section 8 | 0.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $830 |
| 2 Bedroom | N/A | N/A | $990 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Cerro Gordo, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $149,000 |
| Median Household Income | $75,500 |