Litchfield, IL—62056
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Litchfield, IL
Litchfield, IL lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $120,000 | 9.0% |
| Single Family | $119,000 | 9.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $95,000 | 9.2% |
3 Bed | $144,000 | 9.9% |
4 Bed | $241,000 | 7.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Litchfield, IL
As of July '25, Rentcast reports the average rent in Litchfield, IL is $725, with a year-over-year rent change of -39.6%. Per bedroom, the median rent as of July '25 in Litchfield, IL is 1-bedrooms: $725. The most common rental property sizes in Litchfield, IL are 1-bedroom and 2-bedroom, accounting for 36.3% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $725 | $725 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $725 | $725 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Litchfield, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Litchfield, IL is 45. This is a increase of 14.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $160,000 | 16.0% |
Listing Count | 34 | 29.0% |
| Listings as % of Homes | 0.6% | 29.0% |
Days on Market | 45 | 14.0% |
Demographics — Litchfield, IL
As of the latest ACS Survey released in 2023, Litchfield, IL has a population of 8,590, which has remained stable by 0.2% over the past 5 years. Litchfield, IL is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 25.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,590 | 0.2% |
% Under 18 | 20.9% | -3.7% |
% Seniors | 23.0% | 19.8% |
% WFH | 8.0% | 105.1% |
% w/ College Degree | 25.6% | 43.8% |
As of the latest ACS Survey released in 2023, Litchfield, IL is a predominantly white area, with 99.0% of the population identifying as white. The white population has grown by 3.6% in the last 5 years. The second most common race or ethnicity in Litchfield, IL is asian, making up 0.3% of the population. Foreign-born residents account for 0.8% of the population in Litchfield, IL, and this percentage has increased by 14.3% 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 | 99.0% | 3.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.3% | -85.0% |
% Asian | 0.3% | 200.0% |
% Foreign Born | 0.8% | 14.3% |
Mortgage and Risk — Litchfield, IL
According to HUD data as of 2023, there were 101 mortgage originations in Litchfield, IL, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Litchfield, IL. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 101 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Litchfield, IL
Litchfield, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 156 |
Total Units Section 8 | 54 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$65 | $725 | $660 |
| 2 Bedroom | N/A | N/A | $870 |
| 3 Bedroom | N/A | N/A | $1,120 |
| 4 Bedroom | N/A | N/A | $1,290 |
Affordability — Litchfield, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $120,000 |
| Median Household Income | $62,700 |