Oswego, IL—60538
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Oswego, IL
Home Price Trends — Oswego, IL
As of Oct '25, the median home price in Oswego, IL is $318,000, with a year-over-year change of 3.8%. This indicates that home prices in Oswego, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $318,000 | 3.8% |
| Single Family | $325,000 | 3.5% |
| Condos | $262,000 | 6.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $261,000 | 7.0% |
3 Bed | $301,000 | 3.4% |
4 Bed | $401,000 | 3.1% |
| 5 Bed | $427,000 | 1.9% |
% of Housing Stock
Rental Trends — Oswego, IL
As of July '25, Rentcast reports the average rent in Oswego, IL is $2,140, with a year-over-year rent change of -0.9%. Per bedroom, the median rent as of July '25 in Oswego, IL is 1-bedrooms: $1,810, 2-bedrooms: $2,110, 3-bedrooms: $2,340, 4-bedrooms: $2,870. The most common rental property sizes in Oswego, IL are 3-bedroom and 2-bedroom, accounting for 33.3% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,780 | $1,810 |
| 2 Bed Rent | $2,100 | $2,110 |
| 3 Bed Rent | $2,400 | $2,340 |
| 4 Bed Rent | $2,800 | $2,870 |
% of Rental Stock
Property Listings — Oswego, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Oswego, IL is 28. 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | -2.0% |
Listing Count | 62 | 1.0% |
| Listings as % of Homes | 0.5% | 1.0% |
Days on Market | 28 | 3.0% |
Demographics — Oswego, IL
As of the latest ACS Survey released in 2023, Oswego, IL has a population of 30,400, which has increased by 6.8% over the past 5 years. Oswego, IL is a popular place for families, as children make up 28.0% of the population. The area has a moderately educated workforce, with 25.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,400 | 6.8% |
% Under 18 | 28.0% | -10.3% |
% Seniors | 11.7% | 21.9% |
% WFH | 10.3% | 145.2% |
% w/ College Degree | 25.2% | -16.3% |
As of the latest ACS Survey released in 2023, Oswego, IL is a predominantly white area, with 55.8% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Oswego, IL is hispanic, making up 33.6% of the population. Foreign-born residents account for 12.4% of the population in Oswego, IL, and this percentage has decreased by 3.9% 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 | 55.8% | -5.4% |
% Black | 5.7% | -6.6% |
% Hispanic | 33.6% | 6.3% |
% Asian | 1.6% | -15.8% |
% Foreign Born | 12.4% | -3.9% |
Mortgage and Risk — Oswego, IL
According to HUD data as of 2023, there were 544 mortgage originations in Oswego, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Oswego, IL. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 544 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Oswego, IL
As of 2024, the percent of homes in Oswego, IL under the Section 8 program is 1.9%. 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. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Oswego, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 44 |
Total Units Section 8 | 44 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,780 | $1,610 |
| 2 Bedroom | -$100 | $2,100 | $2,000 |
| 3 Bedroom | $330 | $2,400 | $2,730 |
| 4 Bedroom | $140 | $2,800 | $2,940 |
Affordability — Oswego, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $318,000 |
| Median Household Income | $92,100 |