Makanda, IL—62958
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Makanda, IL
As of Oct '25, the median home price in Makanda, IL is $179,000, with a year-over-year change of 9.3%. This indicates that home prices in Makanda, IL are increasing. According to Zillow, the 1-year price projection is -1.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $179,000 | 9.4% |
| Single Family | $179,000 | 9.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | 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 — Makanda, IL
Makanda, 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 — Makanda, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Makanda, IL is 56. 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $246,000 | -8.0% |
Listing Count | 11 | 32.0% |
| Listings as % of Homes | 1.2% | 32.0% |
Days on Market | 56 | -17.0% |
Demographics — Makanda, IL
As of the latest ACS Survey released in 2023, Makanda, IL has a population of 2,070, which has decreased by -3.6% over the past 5 years. Makanda, IL is a moderately popular place for families, as children make up 23.0% of the population. The area has a highly educated workforce, with 48.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,070 | -3.6% |
% Under 18 | 23.0% | 21.1% |
% Seniors | 21.2% | 3.9% |
% WFH | 7.9% | -6.0% |
% w/ College Degree | 48.0% | -6.1% |
As of the latest ACS Survey released in 2023, Makanda, IL is a predominantly white area, with 90.6% of the population identifying as white. The white population has grown by 4.1% in the last 5 years. The second most common race or ethnicity in Makanda, IL is asian, making up 3.5% of the population. Foreign-born residents account for 3.5% of the population in Makanda, IL, and this percentage has decreased by 49.3% 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 | 90.6% | 4.1% |
% Black | 2.8% | -12.5% |
% Hispanic | 1.4% | -39.1% |
% Asian | 3.5% | -18.6% |
% Foreign Born | 3.5% | -49.3% |
Mortgage and Risk — Makanda, IL
According to HUD data as of 2023, there were 34 mortgage originations in Makanda, IL, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Makanda, IL. Investor activity is low, as 12.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 34 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 12.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Makanda, IL
Makanda, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $770 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | N/A | N/A | $1,410 |
Affordability — Makanda, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $179,000 |
| Median Household Income | $68,300 |