Wood River, IL—62095
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wood River, IL
As of Oct '25, the median home price in Wood River, IL is $124,000, with a year-over-year change of 3.2%. This indicates that home prices in Wood River, IL are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $124,000 | 3.2% |
| Single Family | $124,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $80,000 | -1.2% |
2 Bed | $107,000 | 4.9% |
3 Bed | $127,000 | 4.1% |
4 Bed | $146,000 | 2.8% |
| 5 Bed | $179,000 | 4.1% |
% of Housing Stock
Rental Trends — Wood River, IL
As of July '25, Rentcast reports the average rent in Wood River, IL is $1,090, with a year-over-year rent change of 19.6%. Per bedroom, the median rent as of July '25 in Wood River, IL is 1-bedrooms: $744, 2-bedrooms: $1,030, 3-bedrooms: $1,620, 4-bedrooms: $1,650. The most common rental property sizes in Wood River, IL are 2-bedroom and 1-bedroom, accounting for 53.6% and 21.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $980 | $1,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $675 | $744 |
| 2 Bed Rent | $1,050 | $1,030 |
| 3 Bed Rent | $1,250 | $1,620 |
| 4 Bed Rent | $1,650 | $1,650 |
% of Rental Stock
Property Listings — Wood River, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Wood River, IL is 40. This is a decrease of -23.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $152,000 | 14.0% |
Listing Count | 36 | 8.0% |
| Listings as % of Homes | 0.5% | 8.0% |
Days on Market | 40 | -23.0% |
Demographics — Wood River, IL
As of the latest ACS Survey released in 2023, Wood River, IL has a population of 10,800, which has increased by 3.1% over the past 5 years. Wood River, 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 16.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,800 | 3.1% |
% Under 18 | 21.1% | -11.0% |
% Seniors | 14.6% | -7.6% |
% WFH | 5.8% | 1,060.0% |
% w/ College Degree | 16.4% | 11.6% |
As of the latest ACS Survey released in 2023, Wood River, IL is a predominantly white area, with 86.9% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Wood River, IL is black, making up 6.3% of the population. Foreign-born residents account for 1.7% of the population in Wood River, IL, and this percentage has increased by 30.8% 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 | 86.9% | -4.7% |
% Black | 6.3% | 65.8% |
% Hispanic | 3.3% | 120.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.7% | 30.8% |
Mortgage and Risk — Wood River, IL
According to HUD data as of 2023, there were 198 mortgage originations in Wood River, IL, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Wood River, IL. Investor activity is low, as 3.0% 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 | 198 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Wood River, IL
As of 2024, the percent of homes in Wood River, IL under the Section 8 program is 10.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wood River, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 151 |
Total Units Section 8 | 151 |
% Rentals under Section 8 | 10.6% |
% Occupied Section 8 | 89.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $205 | $675 | $880 |
| 2 Bedroom | $40 | $1,050 | $1,090 |
| 3 Bedroom | $160 | $1,250 | $1,410 |
| 4 Bedroom | -$10 | $1,650 | $1,640 |
Affordability — Wood River, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.6 |
| Median Home Price | $124,000 |
| Median Household Income | $66,600 |