Mansfield, IL—61854
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mansfield, IL
As of Oct '25, the median home price in Mansfield, IL is $220,000, with a year-over-year change of 13.7%. This indicates that home prices in Mansfield, IL are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $220,000 | 13.7% |
| Single Family | $220,000 | 13.4% |
| 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 — Mansfield, IL
Mansfield, 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 — Mansfield, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mansfield, IL is 53. This is a increase of 196.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $232,000 | 14.0% |
Listing Count | 8 | 100.0% |
| Listings as % of Homes | 0.3% | 100.0% |
Days on Market | 53 | 196.0% |
Demographics — Mansfield, IL
As of the latest ACS Survey released in 2023, Mansfield, IL has a population of 1,360, which has increased by 13.3% over the past 5 years. Mansfield, IL is a moderately popular place for families, as children make up 19.6% of the population. The area has a poorly educated workforce, with 24.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,360 | 13.3% |
% Under 18 | 19.6% | 19.5% |
% Seniors | 18.5% | 4.5% |
% WFH | 5.0% | 177.8% |
% w/ College Degree | 24.6% | 19.4% |
As of the latest ACS Survey released in 2023, Mansfield, IL is a predominantly white area, with 96.5% of the population identifying as white. The white population has grown by 2.2% in the last 5 years. The second most common race or ethnicity in Mansfield, IL is hispanic, making up 3.4% of the population. Foreign-born residents account for 1.8% of the population in Mansfield, IL, and this percentage has increased by 200.0% 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 | 96.5% | 2.2% |
% Black | 0.0% | N/A |
% Hispanic | 3.4% | -27.7% |
% Asian | 0.0% | N/A |
% Foreign Born | 1.8% | 200.0% |
Mortgage and Risk — Mansfield, IL
According to HUD data as of 2023, there were 72 mortgage originations in Mansfield, IL, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Mansfield, 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 | 72 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Mansfield, IL
Mansfield, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 7 |
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 | $960 |
| 2 Bedroom | N/A | N/A | $1,140 |
| 3 Bedroom | N/A | N/A | $1,480 |
| 4 Bedroom | N/A | N/A | $1,510 |
Affordability — Mansfield, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $220,000 |
| Median Household Income | $84,300 |