Tolono, IL 61880 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Tolono, IL—61880

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$241,000

8.1% YoY Growth

Household Income

$89,100

16.4% YoY Growth

Days on Market

6.0% Longer YoY

Home Price Forecast

2.2%

Median Rent

$2,100

72.1% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Tolono, IL

As of Dec '25, the median home price in Tolono, IL is $241,000, with a year-over-year change of 8.1%. This indicates that home prices in Tolono, IL are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$241,000	8.1%
Single Family	$244,000	8.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Tolono, IL

As of July '25, Rentcast reports the average rent in Tolono, IL is $2,100, with a year-over-year rent change of 72.1%. Per bedroom, the median rent as of July '25 in Tolono, IL is 4-bedrooms: $2,100. The most common rental property sizes in Tolono, IL are 2-bedroom and 3-bedroom, accounting for 69.5% and 21.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,100	$2,100
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	$2,100	$2,100

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% of Rental Stock

1 Bedroom

9.0%

2 Bedrooms

69.5%

3 Bedrooms

21.5%

Property Listings — Tolono, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Tolono, IL is 74. This is a increase of 4.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$266,000	-24.0%
Listing Count	5	60.0%
Listings as % of Homes	0.4%	60.0%
Days on Market	75	6.0%

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Demographics — Tolono, IL

As of the latest ACS Survey released in 2023, Tolono, IL has a population of 4,560, which has increased by 19.0% over the past 5 years. Tolono, IL is a moderately popular place for families, as children make up 24.1% of the population. The area has a moderately educated workforce, with 27.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	4,560	19.0%
% Under 18	24.1%	-8.4%
% Seniors	12.4%	10.7%
% WFH	5.5%	0.0%
% w/ College Degree	27.8%	-17.5%

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As of the latest ACS Survey released in 2023, Tolono, IL is a predominantly white area, with 94.0% of the population identifying as white. The white population has grown by 4.0% in the last 5 years. The second most common race or ethnicity in Tolono, IL is asian, making up 1.5% of the population. Foreign-born residents account for 1.2% of the population in Tolono, IL, and this percentage has decreased by 25.0% 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	94.0%	4.0%
% Black	0.7%	-78.1%
% Hispanic	0.6%	-82.4%
% Asian	1.5%	87.5%
% Foreign Born	1.2%	-25.0%

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Mortgage and Risk — Tolono, IL

According to HUD data as of 2023, there were 161 mortgage originations in Tolono, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Tolono, IL. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	161
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	14.0%

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Rentals and Section 8 — Tolono, IL

Tolono, 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	$800
2 Bedroom	N/A	N/A	$950
3 Bedroom	N/A	N/A	$1,240
4 Bedroom	-$840	$2,100	$1,260

Tolono, IL—61880

Key Metrics at a Glance

Home Price Trends — Tolono, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Tolono, IL

% of Rental Stock

Property Listings — Tolono, IL

Demographics — Tolono, IL

Race and Ethnicity

Mortgage and Risk — Tolono, IL

Mortgages

Rentals and Section 8 — Tolono, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Tolono, IL

Home Price to Income Ratio

Tolono, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Savoy, IL

Pesotum, IL

Philo, IL

Champaign, IL

Urbana, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.2
Median Home Price	$241,000
Median Household Income	$89,100

Tolono, IL—61880

Key Metrics at a Glance

Home Price Trends — Tolono, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Tolono, IL

% of Rental Stock

Property Listings — Tolono, IL

Demographics — Tolono, IL

Race and Ethnicity

Mortgage and Risk — Tolono, IL

Mortgages

Rentals and Section 8 — Tolono, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Tolono, IL

Home Price to Income Ratio

Tolono, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Savoy, IL

Pesotum, IL

Philo, IL

Champaign, IL

Urbana, IL

Frequently Asked Questions

What is the average home price in Tolono, IL 61880?

How have home prices in Tolono, IL 61880 changed over the past year?

What is the home price projection for Tolono, IL 61880?

What are the demographics of Tolono, IL 61880?

How long does it take homes to sell in Tolono, IL 61880?

What is the average rent price in Tolono, IL 61880?