Fairmount, IL—61841
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairmount, IL
As of Oct '25, the median home price in Fairmount, IL is $145,000, with a year-over-year change of 9.4%. This indicates that home prices in Fairmount, IL are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $145,000 | 9.4% |
| Single Family | $145,000 | 9.0% |
| 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 — Fairmount, IL
Fairmount, 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 — Fairmount, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairmount, IL is 112. This is a increase of 5.0% 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 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 | $117,000 | -62.0% |
Listing Count | 3 | -18.0% |
| Listings as % of Homes | 0.6% | -18.0% |
Days on Market | 112 | 5.0% |
Demographics — Fairmount, IL
As of the latest ACS Survey released in 2023, Fairmount, IL has a population of 1,120, which has decreased by -16.3% over the past 5 years. Fairmount, 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 22.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,120 | -16.3% |
% Under 18 | 24.0% | 0.4% |
% Seniors | 23.5% | 23.7% |
% WFH | 7.8% | 110.8% |
% w/ College Degree | 22.7% | 32.7% |
Fairmount, IL lacks sufficient race and ethnicity data for analysis.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 98.5% | 0.2% |
% Black | 0.1% | -50.0% |
% Hispanic | 0.5% | -50.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | N/A |
Mortgage and Risk — Fairmount, IL
According to HUD data as of 2023, there were 26 mortgage originations in Fairmount, IL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Fairmount, IL. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 26 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Fairmount, IL
Fairmount, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 15 |
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 | $680 |
| 2 Bedroom | N/A | N/A | $890 |
| 3 Bedroom | N/A | N/A | $1,090 |
| 4 Bedroom | N/A | N/A | $1,200 |
Affordability — Fairmount, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $145,000 |
| Median Household Income | $67,500 |