Centralia, IL—62801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Centralia, IL
As of Oct '25, the median home price in Centralia, IL is $92,000, with a year-over-year change of -6.8%. This indicates that home prices in Centralia, IL are decreasing. 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 | $92,000 | -6.8% |
| Single Family | $92,000 | -7.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $74,000 | -8.6% |
3 Bed | $126,000 | 0.8% |
4 Bed | $172,000 | 5.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Centralia, IL
As of July '25, Rentcast reports the average rent in Centralia, IL is $876, with a year-over-year rent change of 8.8%. Per bedroom, the median rent as of July '25 in Centralia, IL is 1-bedrooms: $400, 2-bedrooms: $556, 3-bedrooms: $981, 4-bedrooms: $1,150. The most common rental property sizes in Centralia, IL are 2-bedroom and 1-bedroom, accounting for 44.9% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $876 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $400 | $400 |
| 2 Bed Rent | $390 | $556 |
| 3 Bed Rent | $1,100 | $981 |
| 4 Bed Rent | $1,150 | $1,150 |
% of Rental Stock
Property Listings — Centralia, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Centralia, IL is 49. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $169,000 | 21.0% |
Listing Count | 74 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 49 | -1.0% |
Demographics — Centralia, IL
As of the latest ACS Survey released in 2023, Centralia, IL has a population of 19,900, which has decreased by -7.0% over the past 5 years. Centralia, IL is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 16.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,900 | -7.0% |
% Under 18 | 20.5% | 1.0% |
% Seniors | 20.0% | 8.7% |
% WFH | 5.5% | 175.0% |
% w/ College Degree | 16.1% | 23.8% |
As of the latest ACS Survey released in 2023, Centralia, IL is a predominantly white area, with 81.3% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Centralia, IL is black, making up 10.7% of the population. Foreign-born residents account for 2.7% of the population in Centralia, IL, and this percentage has increased by 28.6% 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 | 81.3% | -1.0% |
% Black | 10.7% | 9.2% |
% Hispanic | 3.6% | -10.0% |
% Asian | 1.2% | 50.0% |
% Foreign Born | 2.7% | 28.6% |
Mortgage and Risk — Centralia, IL
According to HUD data as of 2023, there were 244 mortgage originations in Centralia, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Centralia, IL. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 244 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Centralia, IL
As of 2024, the percent of homes in Centralia, IL under the Section 8 program is 15.0%. 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. In Centralia, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 531 |
Total Units Section 8 | 337 |
% Rentals under Section 8 | 15.0% |
% Occupied Section 8 | 95.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $480 | $400 | $880 |
| 2 Bedroom | $700 | $390 | $1,090 |
| 3 Bedroom | $310 | $1,100 | $1,410 |
| 4 Bedroom | $490 | $1,150 | $1,640 |
Affordability — Centralia, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $92,000 |
| Median Household Income | $53,700 |