Leland Grove, IL 62704 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Leland Grove, IL—62704

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$191,000

8.6% YoY Growth

Household Income

$66,400

21.2% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

1.8%

Median Rent

$950

8.7% YoY Growth

1-Bed Rent

$800

15.1% YoY Growth

2-Bed Rent

$975

12.4% YoY Growth

3-Bed Rent

$1,300

10.7% YoY Growth

Home Price Trends — Leland Grove, IL

As of May '26, the median home price in Leland Grove, IL is $191,000, with a year-over-year change of 8.6%. This indicates that home prices in Leland Grove, IL are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$191,000	8.6%
Single Family	$197,000	8.8%
Condos	$130,000	6.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Leland Grove, IL

As of July '25, Rentcast reports the average rent in Leland Grove, IL is $1,060, with a year-over-year rent change of 8.7%. Per bedroom, the median rent as of July '25 in Leland Grove, IL is studios: $624, 1-bedrooms: $846, 2-bedrooms: $1,030, 3-bedrooms: $1,330, 4-bedrooms: $2,060. The most common rental property sizes in Leland Grove, IL are 2-bedroom and 1-bedroom, accounting for 49.7% and 23.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$950	$1,060
Studio Rent	$600	$624
1 Bed Rent	$800	$846
2 Bed Rent	$975	$1,030
3 Bed Rent	$1,300	$1,330
4 Bed Rent	$1,700	$2,060

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% of Rental Stock

Studio

3.1%

1 Bedroom

23.8%

2 Bedrooms

49.7%

3 Bedrooms

16.4%

4 Bedrooms

6.4%

5+ Bedrooms

0.6%

Property Listings — Leland Grove, IL

As of May '26, Realtor.com reports that the median days on market for a home in Leland Grove, IL is 28. This is a increase of 3.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$229,000	23.0%
Listing Count	105	-7.0%
Listings as % of Homes	0.4%	-7.0%
Days on Market	28	3.0%

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Demographics — Leland Grove, IL

As of the latest ACS Survey released in 2023, Leland Grove, IL has a population of 39,600, which has decreased by -3.0% over the past 5 years. Leland Grove, IL is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 41.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	39,600	-3.0%
% Under 18	20.1%	-3.4%
% Seniors	18.5%	3.4%
% WFH	13.0%	261.1%
% w/ College Degree	41.9%	-9.9%

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As of the latest ACS Survey released in 2023, Leland Grove, IL is a predominantly white area, with 73.7% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Leland Grove, IL is black, making up 14.9% of the population. Foreign-born residents account for 5.8% of the population in Leland Grove, IL, and this percentage has increased by 9.4% 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	73.7%	-2.4%
% Black	14.9%	-8.6%
% Hispanic	3.6%	28.6%
% Asian	3.5%	9.4%
% Foreign Born	5.8%	9.4%

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Mortgage and Risk — Leland Grove, IL

According to HUD data as of 2023, there were 685 mortgage originations in Leland Grove, IL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Leland Grove, IL. Investor activity is low, as 10.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	685
% Conventional Loans	88.0%
% Government Loans	12.0%
% Investor Loans	10.0%
% Second Loans	1.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Leland Grove, IL

As of 2024, the percent of homes in Leland Grove, IL under the Section 8 program is 8.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Leland Grove, IL, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	734
Total Units Section 8	619
% Rentals under Section 8	8.9%
% Occupied Section 8	80.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$120	$800	$920
2 Bedroom	$155	$975	$1,130
3 Bedroom	$230	$1,300	$1,530
4 Bedroom	-$140	$1,700	$1,560

Leland Grove, IL—62704

Key Metrics at a Glance

Home Price Trends — Leland Grove, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Leland Grove, IL

% of Rental Stock

Property Listings — Leland Grove, IL

Demographics — Leland Grove, IL

Race and Ethnicity

Mortgage and Risk — Leland Grove, IL

Mortgages

Rentals and Section 8 — Leland Grove, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Leland Grove, IL

Home Price to Income Ratio

Leland Grove, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Springfield, IL

Springfield, IL

Springfield, IL

Springfield, IL

Springfield, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.4
Median Home Price	$191,000
Median Household Income	$66,400

Leland Grove, IL—62704

Key Metrics at a Glance

Home Price Trends — Leland Grove, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Leland Grove, IL

% of Rental Stock

Property Listings — Leland Grove, IL

Demographics — Leland Grove, IL

Race and Ethnicity

Mortgage and Risk — Leland Grove, IL

Mortgages

Rentals and Section 8 — Leland Grove, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Leland Grove, IL

Home Price to Income Ratio

Leland Grove, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Springfield, IL

Springfield, IL

Springfield, IL

Springfield, IL

Springfield, IL

Frequently Asked Questions

What is the average home price in Leland Grove, IL 62704?

How have home prices in Leland Grove, IL 62704 changed over the past year?

What is the home price projection for Leland Grove, IL 62704?

What are the demographics of Leland Grove, IL 62704?

How long does it take homes to sell in Leland Grove, IL 62704?

What is the average rent price in Leland Grove, IL 62704?