Carthage, IL—62321
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carthage, IL
As of Oct '25, the median home price in Carthage, IL is $120,000, with a year-over-year change of 9.4%. This indicates that home prices in Carthage, 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 | $120,000 | 9.4% |
| Single Family | $120,000 | 11.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Carthage, IL
As of July '25, Rentcast reports the average rent in Carthage, IL is $658, with a year-over-year rent change of -12.3%. Per bedroom, the median rent as of July '25 in Carthage, IL is 1-bedrooms: $750, 2-bedrooms: $585, 3-bedrooms: $713. The most common rental property sizes in Carthage, IL are 2-bedroom and 1-bedroom, accounting for 33.0% and 20.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $600 | $658 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 2 Bed Rent | $570 | $585 |
| 3 Bed Rent | $713 | $713 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Carthage, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Carthage, IL is 80. This is a increase of 45.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $138,000 | -11.0% |
Listing Count | 23 | 59.0% |
| Listings as % of Homes | 0.6% | 59.0% |
Days on Market | 80 | 45.0% |
Demographics — Carthage, IL
As of the latest ACS Survey released in 2023, Carthage, IL has a population of 3,680, which has decreased by -4.2% over the past 5 years. Carthage, IL is a moderately popular place for families, as children make up 16.8% of the population. The area has a moderately educated workforce, with 33.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,680 | -4.2% |
% Under 18 | 16.8% | -24.0% |
% Seniors | 23.3% | 4.0% |
% WFH | 3.3% | -52.2% |
% w/ College Degree | 33.3% | 24.3% |
As of the latest ACS Survey released in 2023, Carthage, IL is a predominantly white area, with 91.5% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Carthage, IL is hispanic, making up 4.0% of the population. Foreign-born residents account for 3.6% of the population in Carthage, IL, and this percentage has increased by 157.1% 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 | 91.5% | -3.7% |
% Black | 0.6% | 20.0% |
% Hispanic | 4.0% | 37.9% |
% Asian | 0.5% | 25.0% |
% Foreign Born | 3.6% | 157.1% |
Mortgage and Risk — Carthage, IL
According to HUD data as of 2023, there were 70 mortgage originations in Carthage, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Carthage, IL. Investor activity is low, as 0.0% of loans were by investors. 1.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 70 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 1.0% |
Loan Activity
Rentals and Section 8 — Carthage, IL
Carthage, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 25 |
Total Units Section 8 | 0 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $750 | $740 |
| 2 Bedroom | $300 | $570 | $870 |
| 3 Bedroom | $377 | $713 | $1,090 |
| 4 Bedroom | N/A | N/A | $1,150 |
Affordability — Carthage, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $120,000 |
| Median Household Income | $74,900 |