Lerna, IL—62440
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lerna, IL
As of Oct '25, the median home price in Lerna, IL is $168,000, with a year-over-year change of 7.8%. This indicates that home prices in Lerna, IL are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $168,000 | 7.8% |
| Single Family | $169,000 | 8.3% |
| 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 — Lerna, IL
Lerna, 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 — Lerna, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lerna, IL is 35. This is a decrease of -10.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $196,000 | -40.0% |
Listing Count | 4 | 43.0% |
| Listings as % of Homes | 0.4% | 43.0% |
Days on Market | 35 | -10.0% |
Demographics — Lerna, IL
As of the latest ACS Survey released in 2023, Lerna, IL has a population of 1,090, which has decreased by -17.0% over the past 5 years. Lerna, IL is a moderately popular place for families, as children make up 16.0% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 0.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,090 | -17.0% |
% Under 18 | 16.0% | -38.9% |
% Seniors | 24.6% | 106.7% |
% WFH | 0.6% | -60.0% |
% w/ College Degree | 22.6% | 43.0% |
As of the latest ACS Survey released in 2023, Lerna, IL is a predominantly white area, with 99.5% of the population identifying as white. The white population has grown by 3.1% in the last 5 years. The second most common race or ethnicity in Lerna, IL is black, making up 0.0% of the population. Foreign-born residents account for 0.0% of the population in Lerna, IL, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 99.5% | 3.1% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Lerna, IL
Lerna, IL lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Lerna, IL
Lerna, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% 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 | $890 |
| 2 Bedroom | N/A | N/A | $1,150 |
| 3 Bedroom | N/A | N/A | $1,510 |
| 4 Bedroom | N/A | N/A | $1,650 |
Affordability — Lerna, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $168,000 |
| Median Household Income | $72,600 |