Herrin, IL—62948
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Herrin, IL
As of Oct '25, the median home price in Herrin, IL is $111,000, with a year-over-year change of 1.7%. This indicates that home prices in Herrin, IL are increasing. According to Zillow, the 1-year price projection is -1.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $111,000 | 1.7% |
| Single Family | $110,000 | 0.9% |
| 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 | $151,000 | 4.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Herrin, IL
As of July '25, Rentcast reports the average rent in Herrin, IL is $1,050, with a year-over-year rent change of 10.4%. Per bedroom, the median rent as of July '25 in Herrin, IL is studios: $1,000, 2-bedrooms: $924, 3-bedrooms: $1,300, 4-bedrooms: $1,530. The most common rental property sizes in Herrin, IL are 2-bedroom and 3-bedroom, accounting for 51.2% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $875 | $1,050 |
| Studio Rent | $500 | $1,000 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $825 | $924 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | $1,500 | $1,530 |
% of Rental Stock
Property Listings — Herrin, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Herrin, IL is 68. This is a increase of 14.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $106,000 | -33.0% |
Listing Count | 61 | 11.0% |
| Listings as % of Homes | 1.0% | 11.0% |
Days on Market | 68 | 14.0% |
Demographics — Herrin, IL
As of the latest ACS Survey released in 2023, Herrin, IL has a population of 12,700, which has decreased by -3.5% over the past 5 years. Herrin, IL is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 24.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,700 | -3.5% |
% Under 18 | 21.4% | -4.0% |
% Seniors | 17.8% | 4.1% |
% WFH | 9.1% | 44.4% |
% w/ College Degree | 24.0% | 7.6% |
As of the latest ACS Survey released in 2023, Herrin, IL is a predominantly white area, with 85.2% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Herrin, IL is black, making up 4.8% of the population. Foreign-born residents account for 2.9% of the population in Herrin, IL, and this percentage has decreased by 14.7% 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 | 85.2% | -6.5% |
% Black | 4.8% | 140.0% |
% Hispanic | 3.6% | 89.5% |
% Asian | 0.1% | -96.9% |
% Foreign Born | 2.9% | -14.7% |
Mortgage and Risk — Herrin, IL
According to HUD data as of 2023, there were 260 mortgage originations in Herrin, IL, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Herrin, IL. Investor activity is low, as 13.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 260 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 13.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Herrin, IL
Herrin, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 421 |
Total Units Section 8 | 96 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 64.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $860 |
| 2 Bedroom | $305 | $825 | $1,130 |
| 3 Bedroom | $260 | $1,300 | $1,560 |
| 4 Bedroom | $190 | $1,500 | $1,690 |
Affordability — Herrin, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $111,000 |
| Median Household Income | $59,000 |