Farmer City, IL—61842
Real Estate Data & Market Trends
Key Metrics at a Glance
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 | $167,000 | 12.2% |
| Single Family | $168,000 | 12.8% |
| 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 | $182,000 | 10.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Farmer City, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Farmer City, IL is 72. This is a increase of 61.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $211,000 | -9.0% |
Listing Count | 12 | 32.0% |
| Listings as % of Homes | 0.5% | 32.0% |
Days on Market | 72 | 61.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Farmer City, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $167,000 |
| Median Household Income | $79,200 |