Morris, IL 60450 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Morris, IL—60450

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$315,000

4.8% YoY Growth

Household Income

$81,700

13.3% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

0.5%

Median Rent

$1,350

14.9% YoY Growth

1-Bed Rent

$700

3.2% YoY Growth

2-Bed Rent

$1,350

14.0% YoY Growth

3-Bed Rent

$1,400

3.5% YoY Growth

Home Price Trends — Morris, IL

As of May '26, the median home price in Morris, IL is $315,000, with a year-over-year change of 4.8%. This indicates that home prices in Morris, IL are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$315,000	4.8%
Single Family	$318,000	5.0%
Condos	$224,000	6.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Morris, IL

As of July '25, Rentcast reports the average rent in Morris, IL is $1,480, with a year-over-year rent change of -14.9%. Per bedroom, the median rent as of July '25 in Morris, IL is 1-bedrooms: $800, 2-bedrooms: $1,530, 3-bedrooms: $1,950. The most common rental property sizes in Morris, IL are 2-bedroom and 1-bedroom, accounting for 42.6% and 26.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,350	$1,480
Studio Rent	N/A	N/A
1 Bed Rent	$700	$800
2 Bed Rent	$1,350	$1,530
3 Bed Rent	$1,400	$1,950
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

5.9%

1 Bedroom

26.8%

2 Bedrooms

42.6%

3 Bedrooms

18.8%

4 Bedrooms

5.4%

5+ Bedrooms

0.4%

Property Listings — Morris, IL

As of May '26, Realtor.com reports that the median days on market for a home in Morris, IL is 46. 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$333,000	-10.0%
Listing Count	53	28.0%
Listings as % of Homes	0.4%	28.0%
Days on Market	46	-1.0%

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Demographics — Morris, IL

As of the latest ACS Survey released in 2023, Morris, IL has a population of 20,900, which has increased by 2.2% over the past 5 years. Morris, IL is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 25.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	20,900	2.2%
% Under 18	21.6%	-0.5%
% Seniors	18.0%	2.3%
% WFH	9.8%	164.9%
% w/ College Degree	25.3%	5.4%

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As of the latest ACS Survey released in 2023, Morris, IL is a predominantly white area, with 85.3% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Morris, IL is hispanic, making up 8.7% of the population. Foreign-born residents account for 3.6% of the population in Morris, IL, and this percentage has decreased by 14.3% 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	85.3%	-2.7%
% Black	1.8%	38.5%
% Hispanic	8.7%	4.8%
% Asian	0.8%	33.3%
% Foreign Born	3.6%	-14.3%

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Mortgage and Risk — Morris, IL

According to HUD data as of 2023, there were 311 mortgage originations in Morris, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Morris, IL. Investor activity is low, as 3.0% 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	311
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Morris, IL

Morris, IL lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	331
Total Units Section 8	331
% Rentals under Section 8	10.1%
% Occupied Section 8	90.1%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$500	$700	$1,200
2 Bedroom	$220	$1,350	$1,570
3 Bedroom	$810	$1,400	$2,210
4 Bedroom	N/A	N/A	$2,310

Morris, IL—60450

Key Metrics at a Glance

Home Price Trends — Morris, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morris, IL

% of Rental Stock

Property Listings — Morris, IL

Demographics — Morris, IL

Race and Ethnicity

Mortgage and Risk — Morris, IL

Mortgages

Rentals and Section 8 — Morris, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morris, IL

Home Price to Income Ratio

Morris, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Mazon, IL

Minooka, IL

Verona, IL

Coal City, IL

Seneca, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$315,000
Median Household Income	$81,700

Morris, IL—60450

Key Metrics at a Glance

Home Price Trends — Morris, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morris, IL

% of Rental Stock

Property Listings — Morris, IL

Demographics — Morris, IL

Race and Ethnicity

Mortgage and Risk — Morris, IL

Mortgages

Rentals and Section 8 — Morris, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morris, IL

Home Price to Income Ratio

Morris, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Mazon, IL

Minooka, IL

Verona, IL

Coal City, IL

Seneca, IL

Frequently Asked Questions

What is the average home price in Morris, IL 60450?

How have home prices in Morris, IL 60450 changed over the past year?

What is the home price projection for Morris, IL 60450?

What are the demographics of Morris, IL 60450?

How long does it take homes to sell in Morris, IL 60450?

What is the average rent price in Morris, IL 60450?