Sherman, IL—62684
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sherman, IL
As of Oct '25, the median home price in Sherman, IL is $318,000, with a year-over-year change of 8.1%. This indicates that home prices in Sherman, IL are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $318,000 | 8.1% |
| Single Family | $318,000 | 8.2% |
| 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 — Sherman, IL
As of July '25, Rentcast reports the average rent in Sherman, IL is $2,920, with a year-over-year rent change of -16.6%. Detailed rent data by bedroom size is not available for Sherman, IL. The most common rental property sizes in Sherman, IL are 3-bedroom and 2-bedroom, accounting for 59.9% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,920 |
| 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 — Sherman, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Sherman, IL is 25. This is a decrease of -19.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $384,000 | 3.0% |
Listing Count | 11 | 12.0% |
| Listings as % of Homes | 0.3% | 12.0% |
Days on Market | 25 | -19.0% |
Demographics — Sherman, IL
As of the latest ACS Survey released in 2023, Sherman, IL has a population of 5,420, which has decreased by -7.5% over the past 5 years. Sherman, IL is a popular place for families, as children make up 26.4% of the population. The area has a highly educated workforce, with 46.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,420 | -7.5% |
% Under 18 | 26.4% | 7.3% |
% Seniors | 18.9% | 3.8% |
% WFH | 16.3% | 1,381.8% |
% w/ College Degree | 46.7% | 5.4% |
As of the latest ACS Survey released in 2023, Sherman, IL is a predominantly white area, with 92.1% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Sherman, IL is black, making up 5.3% of the population. Foreign-born residents account for 1.0% of the population in Sherman, IL, and this percentage has decreased by 9.1% 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 | 92.1% | -4.2% |
% Black | 5.3% | ∞% |
% Hispanic | 1.0% | -68.8% |
% Asian | 0.1% | ∞% |
% Foreign Born | 1.0% | -9.1% |
Mortgage and Risk — Sherman, IL
According to HUD data as of 2023, there were 156 mortgage originations in Sherman, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Sherman, IL. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 156 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Sherman, IL
Sherman, 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 | $1,050 |
| 2 Bedroom | N/A | N/A | $1,290 |
| 3 Bedroom | N/A | N/A | $1,740 |
| 4 Bedroom | N/A | N/A | $1,780 |
Affordability — Sherman, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $318,000 |
| Median Household Income | $142,000 |