Mendon, IL—62351
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mendon, IL
As of Oct '25, the median home price in Mendon, IL is $196,000, with a year-over-year change of -0.5%. This indicates that home prices in Mendon, IL are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $196,000 | -0.5% |
| Single Family | $196,000 | 1.0% |
| 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 — Mendon, IL
Mendon, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 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 — Mendon, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mendon, IL is 133. This is a increase of 58.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $160,000 | -53.0% |
Listing Count | 4 | 86.0% |
| Listings as % of Homes | 0.6% | 86.0% |
Days on Market | 133 | 58.0% |
Demographics — Mendon, IL
As of the latest ACS Survey released in 2023, Mendon, IL has a population of 2,030, which has increased by 7.8% over the past 5 years. Mendon, IL is a popular place for families, as children make up 27.7% of the population. The area has a poorly educated workforce, with 21.6% 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 | 2,030 | 7.8% |
% Under 18 | 27.7% | 25.3% |
% Seniors | 16.4% | -21.2% |
% WFH | 3.3% | -45.9% |
% w/ College Degree | 21.6% | -10.7% |
Mendon, IL lacks sufficient race and ethnicity data for analysis.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 98.9% | 2.9% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.6% | -76.9% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | N/A |
Mortgage and Risk — Mendon, IL
According to HUD data as of 2023, there were 42 mortgage originations in Mendon, IL, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Mendon, IL. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 42 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Mendon, IL
Mendon, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 14 |
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 | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $1,030 |
| 3 Bedroom | N/A | N/A | $1,330 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Mendon, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $196,000 |
| Median Household Income | $73,800 |