Payson, IL—62360
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Payson, IL
As of Oct '25, the median home price in Payson, IL is $155,000, with a year-over-year change of -10.8%. This indicates that home prices in Payson, IL are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $155,000 | -10.8% |
| Single Family | $155,000 | -10.4% |
| 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 — Payson, IL
Payson, 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 — Payson, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Payson, IL is 17. This is a decrease of -26.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $180,000 | -19.0% |
Listing Count | 1 | -67.0% |
| Listings as % of Homes | N/A | -67.0% |
Days on Market | 17 | -26.0% |
Demographics — Payson, IL
As of the latest ACS Survey released in 2023, Payson, IL has a population of 1,540, which has decreased by -19.7% over the past 5 years. Payson, IL is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 23.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,540 | -19.7% |
% Under 18 | 25.5% | -5.6% |
% Seniors | 21.6% | 61.2% |
% WFH | 6.9% | 165.4% |
% w/ College Degree | 23.4% | -20.7% |
As of the latest ACS Survey released in 2023, Payson, IL is a predominantly white area, with 95.8% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Payson, IL is asian, making up 1.8% of the population. Foreign-born residents account for 0.3% of the population in Payson, IL, and this percentage has increased by Inf% 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 | 95.8% | -3.6% |
% Black | 0.0% | N/A |
% Hispanic | 1.1% | 83.3% |
% Asian | 1.8% | ∞% |
% Foreign Born | 0.3% | ∞% |
Mortgage and Risk — Payson, IL
According to HUD data as of 2023, there were 16 mortgage originations in Payson, IL, of which 38.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Payson, IL. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 16 |
% Conventional Loans | 38.0% |
% Government Loans | 62.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Payson, IL
Payson, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 24 |
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 | $780 |
| 2 Bedroom | N/A | N/A | $1,020 |
| 3 Bedroom | N/A | N/A | $1,320 |
| 4 Bedroom | N/A | N/A | $1,380 |
Affordability — Payson, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $155,000 |
| Median Household Income | $58,400 |