Patoka, IL—62875
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Patoka, IL
As of Oct '25, the median home price in Patoka, IL is $124,000, with a year-over-year change of 0.4%. This indicates that home prices in Patoka, IL are flat. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $124,000 | 0.4% |
| Single Family | $124,000 | 2.5% |
| 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 — Patoka, IL
Patoka, 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 — Patoka, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Patoka, IL is 37. This is a increase of 55.0% 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 67.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $119,000 | 14.0% |
Listing Count | 3 | -43.0% |
| Listings as % of Homes | 0.4% | -43.0% |
Days on Market | 37 | 55.0% |
Demographics — Patoka, IL
As of the latest ACS Survey released in 2023, Patoka, IL has a population of 1,090, which has decreased by -12.9% over the past 5 years. Patoka, IL is a popular place for families, as children make up 27.0% of the population. The area has a poorly educated workforce, with 15.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,090 | -12.9% |
% Under 18 | 27.0% | 33.7% |
% Seniors | 21.2% | 27.7% |
% WFH | 1.8% | -55.0% |
% w/ College Degree | 15.2% | 9.4% |
As of the latest ACS Survey released in 2023, Patoka, IL is a predominantly white area, with 95.7% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Patoka, IL is hispanic, making up 3.1% of the population. Foreign-born residents account for 0.5% of the population in Patoka, IL, and this percentage has decreased by 44.4% 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 | 95.7% | -0.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 3.1% | 34.8% |
% Asian | 0.1% | -50.0% |
% Foreign Born | 0.5% | -44.4% |
Mortgage and Risk — Patoka, IL
According to HUD data as of 2023, there were 32 mortgage originations in Patoka, IL, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Patoka, IL. Investor activity is low, as 3.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 32 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Patoka, IL
Patoka, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 13 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $880 |
| 2 Bedroom | N/A | N/A | $1,090 |
| 3 Bedroom | N/A | N/A | $1,410 |
| 4 Bedroom | N/A | N/A | $1,700 |
Affordability — Patoka, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $124,000 |
| Median Household Income | $70,600 |