Charleston, IL—61920
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Charleston, IL
As of Oct '25, the median home price in Charleston, IL is $156,000, with a year-over-year change of 7.0%. This indicates that home prices in Charleston, IL are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $156,000 | 7.0% |
| Single Family | $156,000 | 6.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $92,000 | 10.8% |
3 Bed | $165,000 | 7.8% |
4 Bed | $221,000 | 6.8% |
| 5 Bed | $208,000 | 6.1% |
% of Housing Stock
Rental Trends — Charleston, IL
As of July '25, Rentcast reports the average rent in Charleston, IL is $808, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in Charleston, IL is studios: $543, 1-bedrooms: $640, 2-bedrooms: $823, 3-bedrooms: $1,110, 4-bedrooms: $1,230. The most common rental property sizes in Charleston, IL are 2-bedroom and 1-bedroom, accounting for 42.7% and 22.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $760 | $808 |
| Studio Rent | $495 | $543 |
| 1 Bed Rent | $695 | $640 |
| 2 Bed Rent | $850 | $823 |
| 3 Bed Rent | $995 | $1,110 |
| 4 Bed Rent | $1,300 | $1,230 |
% of Rental Stock
Property Listings — Charleston, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Charleston, IL is 50. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $219,000 | 50.0% |
Listing Count | 29 | -39.0% |
| Listings as % of Homes | 0.4% | -39.0% |
Days on Market | 50 | -4.0% |
Demographics — Charleston, IL
As of the latest ACS Survey released in 2023, Charleston, IL has a population of 20,700, which has decreased by -13.7% over the past 5 years. Charleston, IL is a less popular place for families, as children make up 14.4% of the population. The area has a moderately educated workforce, with 35.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,700 | -13.7% |
% Under 18 | 14.4% | -1.4% |
% Seniors | 14.5% | 16.0% |
% WFH | 8.5% | 88.9% |
% w/ College Degree | 35.4% | -0.3% |
As of the latest ACS Survey released in 2023, Charleston, IL is a predominantly white area, with 84.2% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Charleston, IL is black, making up 6.6% of the population. Foreign-born residents account for 3.7% of the population in Charleston, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.2% | -1.8% |
% Black | 6.6% | 4.8% |
% Hispanic | 4.4% | 33.3% |
% Asian | 2.0% | -16.7% |
% Foreign Born | 3.7% | 0.0% |
Mortgage and Risk — Charleston, IL
According to HUD data as of 2023, there were 230 mortgage originations in Charleston, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Charleston, IL. Investor activity is low, as 1.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Charleston, IL
Charleston, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 350 |
Total Units Section 8 | 350 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $25 | $695 | $720 |
| 2 Bedroom | $80 | $850 | $930 |
| 3 Bedroom | $235 | $995 | $1,230 |
| 4 Bedroom | $20 | $1,300 | $1,320 |
Affordability — Charleston, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $156,000 |
| Median Household Income | $54,200 |