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Sullivan, IL—61951

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$188,000
8.0% YoY Growth
Household Income
$75,200
23.1% YoY Growth
Days on Market
61
43.0% Shorter YoY
Home Price Forecast
N/A
Median Rent
$700
5.6% YoY Growth
1-Bed Rent
$700
N/A
2-Bed Rent
$650
11.7% YoY Growth
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Sullivan, IL

Sullivan, IL lacks sufficient home price data for analysis.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$188,0008.0%
Single Family $188,0007.4%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
N/AN/A
  • Affordability
  • Rentals and Section 8
    • 2 Bed
    		$117,0003.5%
    3 Bed
    		$204,0009.1%
    4 Bed
    		$272,00010.6%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    3.4%
    1 Bedroom
    9.8%
    2 Bedrooms
    23.1%
    3 Bedrooms
    47.8%
    4 Bedrooms
    10.9%
    5+ Bedrooms
    5.0%

    Rental Trends — Sullivan, IL

    As of July '25, Rentcast reports the average rent in Sullivan, IL is $855, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in Sullivan, IL is 1-bedrooms: $700, 2-bedrooms: $894. The most common rental property sizes in Sullivan, IL are 2-bedroom and 3-bedroom, accounting for 37.8% and 31.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$700$855
    Studio Rent N/AN/A
    1 Bed Rent $700$700
    2 Bed Rent $650$894
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    3.0%
    1 Bedroom
    21.7%
    2 Bedrooms
    37.8%
    3 Bedrooms
    31.6%
    4 Bedrooms
    5.9%

    Property Listings — Sullivan, IL

    As of Dec '25, Realtor.com reports that the median days on market for a home in Sullivan, IL is 30. This is a decrease of -47.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$174,000-6.0%
    Listing Count
    		11-25.0%
    Listings as % of Homes0.4%-25.0%
    Days on Market
    		61-43.0%
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    Demographics — Sullivan, IL

    As of the latest ACS Survey released in 2023, Sullivan, IL has a population of 7,650, which has decreased by -3.8% over the past 5 years. Sullivan, IL is a popular place for families, as children make up 25.2% of the population. The area has a poorly educated workforce, with 22.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		7,650-3.8%
    % Under 18
    		25.2%13.5%
    % Seniors
    		18.5%-8.4%
    % WFH
    		4.4%-13.7%
    % w/ College Degree
    		22.2%-3.5%
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    As of the latest ACS Survey released in 2023, Sullivan, IL is a predominantly white area, with 96.6% of the population identifying as white. The white population has grown by 0.8% in the last 5 years. The second most common race or ethnicity in Sullivan, IL is black, making up 1.4% of the population. Foreign-born residents account for 0.6% of the population in Sullivan, IL, and this percentage has decreased by 60.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		96.6%0.8%
    % Black
    		1.4%100.0%
    % Hispanic
    		0.8%-60.0%
    % Asian
    		0.2%-33.3%
    % Foreign Born
    		0.6%-60.0%
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    Mortgage and Risk — Sullivan, IL

    According to HUD data as of 2023, there were 83 mortgage originations in Sullivan, IL, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Sullivan, IL. Investor activity is low, as 8.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		83
    % Conventional Loans
    		63.0%
    % Government Loans
    		37.0%
    % Investor Loans
    		8.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Sullivan, IL

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

    Section 8 Market Size

    Total Units under HUD
    		48
    Total Units Section 8
    		48
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		76.1%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$30$700$730
    2 Bedroom$300$650$950
    3 BedroomN/AN/A$1,330
    4 BedroomN/AN/A$1,600

    Affordability — Sullivan, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2
    Median Home Price$188,000
    Median Household Income$75,200

    Sullivan, IL — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Gays, IL

    61928

    Arthur, IL

    61911

    Lovington, IL

    61937

    Humboldt, IL

    61931

    Hammond, IL

    61929

    Frequently Asked Questions