Leland Grove, IL—62704
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Leland Grove, IL
As of Oct '25, the median home price in Leland Grove, IL is $178,000, with a year-over-year change of 5.4%. This indicates that home prices in Leland Grove, IL are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $178,000 | 5.4% |
| Single Family | $183,000 | 5.8% |
| Condos | $124,000 | 8.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $125,000 | 5.9% |
3 Bed | $197,000 | 5.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Leland Grove, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Leland Grove, IL is 23. This is a decrease of -17.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $184,000 | 0.0% |
Listing Count | 100 | -18.0% |
| Listings as % of Homes | 0.4% | -18.0% |
Days on Market | 23 | -17.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Leland Grove, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $178,000 |
| Median Household Income | $66,400 |