Newark, IL—60541
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Newark, IL
As of Oct '25, the median home price in Newark, IL is $387,000, with a year-over-year change of 6.5%. This indicates that home prices in Newark, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $387,000 | 6.5% |
| Single Family | $387,000 | 6.0% |
| 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 | $327,000 | 4.8% |
4 Bed | $468,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Newark, IL
Newark, 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 — Newark, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Newark, IL is 162. This is a increase of 259.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $560,000 | 37.0% |
Listing Count | 7 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 162 | 259.0% |
Demographics — Newark, IL
As of the latest ACS Survey released in 2023, Newark, IL has a population of 3,380, which has decreased by -7.7% over the past 5 years. Newark, IL is a popular place for families, as children make up 25.2% of the population. The area has a moderately educated workforce, with 27.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,380 | -7.7% |
% Under 18 | 25.2% | -15.2% |
% Seniors | 14.5% | 21.8% |
% WFH | 13.7% | 110.8% |
% w/ College Degree | 27.2% | 7.1% |
As of the latest ACS Survey released in 2023, Newark, IL is a predominantly white area, with 91.0% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Newark, IL is hispanic, making up 5.2% of the population. Foreign-born residents account for 2.2% of the population in Newark, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.0% | -3.5% |
% Black | 1.5% | 275.0% |
% Hispanic | 5.2% | 92.6% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 2.2% | 0.0% |
Mortgage and Risk — Newark, IL
Newark, IL lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Newark, IL
Newark, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,370 |
| 2 Bedroom | N/A | N/A | $1,800 |
| 3 Bedroom | N/A | N/A | $2,500 |
| 4 Bedroom | N/A | N/A | $2,580 |
Affordability — Newark, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $387,000 |
| Median Household Income | $119,000 |