Mattoon, IL 61938 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Mattoon, IL—61938

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$114,000

6.3% YoY Growth

Household Income

$54,300

21.2% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

1.5%

Median Rent

$870

13.9% YoY Growth

1-Bed Rent

$720

14.7% YoY Growth

2-Bed Rent

$885

14.6% YoY Growth

3-Bed Rent

$870

20.9% YoY Growth

Home Price Trends — Mattoon, IL

As of Dec '25, the median home price in Mattoon, IL is $114,000, with a year-over-year change of 6.3%. This indicates that home prices in Mattoon, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$114,000	6.3%
Single Family	$114,000	5.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Mattoon, IL

As of July '25, Rentcast reports the average rent in Mattoon, IL is $858, with a year-over-year rent change of 13.9%. Per bedroom, the median rent as of July '25 in Mattoon, IL is 1-bedrooms: $734, 2-bedrooms: $897, 3-bedrooms: $870. The most common rental property sizes in Mattoon, IL are 2-bedroom and 1-bedroom, accounting for 35.5% and 28.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$870	$858
Studio Rent	N/A	N/A
1 Bed Rent	$720	$734
2 Bed Rent	$885	$897
3 Bed Rent	$870	$870
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

11.8%

1 Bedroom

28.8%

2 Bedrooms

35.5%

3 Bedrooms

19.5%

4 Bedrooms

3.4%

5+ Bedrooms

1.0%

Property Listings — Mattoon, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Mattoon, IL is 37. This is a decrease of -8.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$123,000	-11.0%
Listing Count	49	-4.0%
Listings as % of Homes	0.6%	-4.0%
Days on Market	53	-1.0%

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Demographics — Mattoon, IL

As of the latest ACS Survey released in 2023, Mattoon, IL has a population of 20,400, which has decreased by -6.4% over the past 5 years. Mattoon, IL is a moderately popular place for families, as children make up 21.1% of the population. The area has a poorly educated workforce, with 23.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	20,400	-6.4%
% Under 18	21.1%	-1.4%
% Seniors	20.4%	5.2%
% WFH	3.8%	22.6%
% w/ College Degree	23.1%	17.9%

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As of the latest ACS Survey released in 2023, Mattoon, IL is a predominantly white area, with 91.1% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Mattoon, IL is hispanic, making up 3.3% of the population. Foreign-born residents account for 1.5% of the population in Mattoon, IL, and this percentage has increased by 25.0% 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	91.1%	-4.3%
% Black	1.8%	5.9%
% Hispanic	3.3%	83.3%
% Asian	1.4%	600.0%
% Foreign Born	1.5%	25.0%

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Mortgage and Risk — Mattoon, IL

According to HUD data as of 2023, there were 261 mortgage originations in Mattoon, IL, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Mattoon, IL. Investor activity is low, as 5.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	261
% Conventional Loans	69.0%
% Government Loans	31.0%
% Investor Loans	5.0%
% Second Loans	1.0%
% Cash Out Refinance	4.0%

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Rentals and Section 8 — Mattoon, IL

Mattoon, IL lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	686
Total Units Section 8	510
% Rentals under Section 8	N/A
% Occupied Section 8	86.1%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$50	$720	$670
2 Bedroom	-$15	$885	$870
3 Bedroom	$290	$870	$1,160
4 Bedroom	N/A	N/A	$1,230

Mattoon, IL—61938

Key Metrics at a Glance

Home Price Trends — Mattoon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mattoon, IL

% of Rental Stock

Property Listings — Mattoon, IL

Demographics — Mattoon, IL

Race and Ethnicity

Mortgage and Risk — Mattoon, IL

Mortgages

Rentals and Section 8 — Mattoon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Mattoon, IL

Home Price to Income Ratio

Mattoon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Humboldt, IL

Gays, IL

Trilla, IL

Lerna, IL

Neoga, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.8
Median Home Price	$114,000
Median Household Income	$54,300

Mattoon, IL—61938

Key Metrics at a Glance

Home Price Trends — Mattoon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mattoon, IL

% of Rental Stock

Property Listings — Mattoon, IL

Demographics — Mattoon, IL

Race and Ethnicity

Mortgage and Risk — Mattoon, IL

Mortgages

Rentals and Section 8 — Mattoon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Mattoon, IL

Home Price to Income Ratio

Mattoon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Humboldt, IL

Gays, IL

Trilla, IL

Lerna, IL

Neoga, IL

Frequently Asked Questions

What is the average home price in Mattoon, IL 61938?

How have home prices in Mattoon, IL 61938 changed over the past year?

What is the home price projection for Mattoon, IL 61938?

What are the demographics of Mattoon, IL 61938?

How long does it take homes to sell in Mattoon, IL 61938?

What is the average rent price in Mattoon, IL 61938?