Rantoul, IL—61866
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rantoul, IL
As of Oct '25, the median home price in Rantoul, IL is $137,000, with a year-over-year change of 9.8%. This indicates that home prices in Rantoul, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $137,000 | 9.8% |
| Single Family | $137,000 | 9.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $96,000 | 10.3% |
3 Bed | $139,000 | 9.4% |
4 Bed | $178,000 | 8.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Rantoul, IL
As of July '25, Rentcast reports the average rent in Rantoul, IL is $673, with a year-over-year rent change of -7.4%. Per bedroom, the median rent as of July '25 in Rantoul, IL is 1-bedrooms: $654, 2-bedrooms: $677, 3-bedrooms: $688. The most common rental property sizes in Rantoul, IL are 3-bedroom and 2-bedroom, accounting for 48.6% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $675 | $673 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $654 |
| 2 Bed Rent | $695 | $677 |
| 3 Bed Rent | $810 | $688 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Rantoul, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Rantoul, IL is 41. This is a increase of 20.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $156,000 | 40.0% |
Listing Count | 30 | 36.0% |
| Listings as % of Homes | 0.5% | 36.0% |
Days on Market | 41 | 20.0% |
Demographics — Rantoul, IL
As of the latest ACS Survey released in 2023, Rantoul, IL has a population of 13,400, which has decreased by -6.2% over the past 5 years. Rantoul, IL is a popular place for families, as children make up 28.3% of the population. The area has a poorly educated workforce, with 12.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,400 | -6.2% |
% Under 18 | 28.3% | -7.5% |
% Seniors | 13.3% | 0.8% |
% WFH | 10.5% | 183.8% |
% w/ College Degree | 12.7% | -33.9% |
As of the latest ACS Survey released in 2023, Rantoul, IL is a predominantly white area, with 47.7% of the population identifying as white. The white population has shrunk by 24.9% in the last 5 years. The second most common race or ethnicity in Rantoul, IL is hispanic, making up 21.5% of the population. Foreign-born residents account for 9.0% of the population in Rantoul, IL, and this percentage has increased by 76.5% 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 | 47.7% | -24.9% |
% Black | 20.2% | 1.5% |
% Hispanic | 21.5% | 97.2% |
% Asian | 0.8% | -65.2% |
% Foreign Born | 9.0% | 76.5% |
Mortgage and Risk — Rantoul, IL
According to HUD data as of 2023, there were 147 mortgage originations in Rantoul, IL, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 54.0% above 90% LTV (very high). This implies large mortgage risk in Rantoul, IL. Investor activity is low, as 5.0% 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 | 147 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Rantoul, IL
Rantoul, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 115 |
Total Units Section 8 | 102 |
% Rentals under Section 8 | 3.6% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $650 | $830 |
| 2 Bedroom | $285 | $695 | $980 |
| 3 Bedroom | $460 | $810 | $1,270 |
| 4 Bedroom | N/A | N/A | $1,300 |
Affordability — Rantoul, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $137,000 |
| Median Household Income | $51,400 |