Farmer City, IL 61842 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Farmer City, IL—61842

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$170,000

12.7% YoY Growth

Household Income

$79,200

31.1% YoY Growth

Days on Market

69

5.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,200

10.1% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,200

20.2% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Farmer City, IL

Farmer City, IL lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$170,000	12.7%
Single Family	$171,000	12.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Farmer City, IL

As of July '25, Rentcast reports the average rent in Farmer City, IL is $1,200, with a year-over-year rent change of 10.1%. Per bedroom, the median rent as of July '25 in Farmer City, IL is 2-bedrooms: $1,200. The most common rental property sizes in Farmer City, IL are 1-bedroom and 2-bedroom, accounting for 36.8% and 31.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,200	$1,200
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,200	$1,200
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

36.8%

2 Bedrooms

31.6%

3 Bedrooms

31.6%

Property Listings — Farmer City, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Farmer City, IL is 82. This is a increase of 63.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$200,000	2.0%
Listing Count	11	17.0%
Listings as % of Homes	0.5%	17.0%
Days on Market	69	5.0%

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Demographics — Farmer City, IL

As of the latest ACS Survey released in 2023, Farmer City, IL has a population of 2,580, which has decreased by -5.5% over the past 5 years. Farmer City, IL is a moderately popular place for families, as children make up 22.4% of the population. The area has a poorly educated workforce, with 17.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,580	-5.5%
% Under 18	22.4%	5.7%
% Seniors	21.5%	-5.7%
% WFH	3.4%	-27.7%
% w/ College Degree	17.6%	-22.8%

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As of the latest ACS Survey released in 2023, Farmer City, IL is a predominantly white area, with 97.8% of the population identifying as white. The white population has grown by 0.8% in the last 5 years. The second most common race or ethnicity in Farmer City, IL is hispanic, making up 0.7% of the population. Foreign-born residents account for 0.2% of the population in Farmer City, IL, and this percentage has decreased by 87.5% 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	97.8%	0.8%
% Black	0.0%	N/A
% Hispanic	0.7%	133.3%
% Asian	0.2%	∞%
% Foreign Born	0.2%	-87.5%

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Mortgage and Risk — Farmer City, IL

According to HUD data as of 2023, there were 41 mortgage originations in Farmer City, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 54.0% above 90% LTV (very high). This implies large mortgage risk in Farmer City, IL. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	41
% Conventional Loans	78.0%
% Government Loans	22.0%
% Investor Loans	2.0%
% Second Loans	2.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Farmer City, IL

Farmer City, 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	$820
2 Bedroom	-$120	$1,200	$1,080
3 Bedroom	N/A	N/A	$1,390
4 Bedroom	N/A	N/A	$1,800

Farmer City, IL—61842

Key Metrics at a Glance

Home Price Trends — Farmer City, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Farmer City, IL

% of Rental Stock

Property Listings — Farmer City, IL

Demographics — Farmer City, IL

Race and Ethnicity

Mortgage and Risk — Farmer City, IL

Mortgages

Rentals and Section 8 — Farmer City, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Farmer City, IL

Home Price to Income Ratio

Farmer City, IL — ZIP Code Boundary Map

Nearby ZIP Codes

De Land, IL

Le Roy, IL

Mansfield, IL

Weldon, IL

Bellflower, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.7
Median Home Price	$170,000
Median Household Income	$79,200

Farmer City, IL—61842

Key Metrics at a Glance

Home Price Trends — Farmer City, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Farmer City, IL

% of Rental Stock

Property Listings — Farmer City, IL

Demographics — Farmer City, IL

Race and Ethnicity

Mortgage and Risk — Farmer City, IL

Mortgages

Rentals and Section 8 — Farmer City, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Farmer City, IL

Home Price to Income Ratio

Farmer City, IL — ZIP Code Boundary Map

Nearby ZIP Codes

De Land, IL

Le Roy, IL

Mansfield, IL

Weldon, IL

Bellflower, IL

Frequently Asked Questions

What is the average home price in Farmer City, IL 61842?

How have home prices in Farmer City, IL 61842 changed over the past year?

What is the home price projection for Farmer City, IL 61842?

What are the demographics of Farmer City, IL 61842?

How long does it take homes to sell in Farmer City, IL 61842?

What is the average rent price in Farmer City, IL 61842?