New Lenox, IL—60451
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Lenox, IL
As of Oct '25, the median home price in New Lenox, IL is $440,000, with a year-over-year change of 5.8%. This indicates that home prices in New Lenox, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $440,000 | 5.8% |
| Single Family | $446,000 | 5.4% |
| Condos | $247,000 | 4.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $265,000 | 4.7% |
3 Bed | $393,000 | 4.0% |
4 Bed | $500,000 | 3.1% |
| 5 Bed | $566,000 | 2.7% |
% of Housing Stock
Rental Trends — New Lenox, IL
As of July '25, Rentcast reports the average rent in New Lenox, IL is $2,580, with a year-over-year rent change of 27.1%. Per bedroom, the median rent as of July '25 in New Lenox, IL is studios: $1,700, 1-bedrooms: $2,150, 2-bedrooms: $2,340, 3-bedrooms: $2,200, 4-bedrooms: $4,080. The most common rental property sizes in New Lenox, IL are 2-bedroom and 3-bedroom, accounting for 73.3% and 13.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,560 | $2,580 |
| Studio Rent | $1,700 | $1,700 |
| 1 Bed Rent | $2,220 | $2,150 |
| 2 Bed Rent | $2,560 | $2,340 |
| 3 Bed Rent | $2,200 | $2,200 |
| 4 Bed Rent | $3,200 | $4,080 |
% of Rental Stock
Property Listings — New Lenox, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in New Lenox, IL is 34. This is a increase of 3.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $465,000 | 8.0% |
Listing Count | 97 | -11.0% |
| Listings as % of Homes | 0.7% | -11.0% |
Days on Market | 34 | 3.0% |
Demographics — New Lenox, IL
As of the latest ACS Survey released in 2023, New Lenox, IL has a population of 37,500, which has increased by 7.3% over the past 5 years. New Lenox, IL is a popular place for families, as children make up 27.5% of the population. The area has a moderately educated workforce, with 41.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,500 | 7.3% |
% Under 18 | 27.5% | 10.0% |
% Seniors | 13.5% | 21.6% |
% WFH | 12.4% | 244.4% |
% w/ College Degree | 41.9% | 3.2% |
As of the latest ACS Survey released in 2023, New Lenox, IL is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in New Lenox, IL is hispanic, making up 5.2% of the population. Foreign-born residents account for 2.4% of the population in New Lenox, IL, and this percentage has decreased by 4.0% 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 | 89.3% | -2.1% |
% Black | 0.4% | -42.9% |
% Hispanic | 5.2% | -21.2% |
% Asian | 1.4% | 180.0% |
% Foreign Born | 2.4% | -4.0% |
Mortgage and Risk — New Lenox, IL
According to HUD data as of 2023, there were 714 mortgage originations in New Lenox, IL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in New Lenox, IL. Investor activity is low, as 1.0% 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 | 714 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — New Lenox, IL
As of 2024, the percent of homes in New Lenox, IL under the Section 8 program is 1.1%. 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 New Lenox, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 11 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$750 | $2,220 | $1,470 |
| 2 Bedroom | -$900 | $2,560 | $1,660 |
| 3 Bedroom | -$70 | $2,200 | $2,130 |
| 4 Bedroom | -$700 | $3,200 | $2,500 |
Affordability — New Lenox, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $440,000 |
| Median Household Income | $132,000 |