Rockford, IL—61101
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rockford, IL
As of Oct '25, the median home price in Rockford, IL is $104,000, with a year-over-year change of 6.9%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 5.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $104,000 | 6.9% |
| Single Family | $104,000 | 8.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $59,000 | 13.5% |
2 Bed | $82,000 | 9.3% |
3 Bed | $111,000 | 7.8% |
4 Bed | $113,000 | 9.7% |
| 5 Bed | $136,000 | 7.9% |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,240, with a year-over-year rent change of 20.4%. Per bedroom, the median rent as of July '25 in Rockford, IL is 1-bedrooms: $1,050, 2-bedrooms: $1,110, 3-bedrooms: $1,450, 4-bedrooms: $1,430. The most common rental property sizes in Rockford, IL are 2-bedroom and 3-bedroom, accounting for 31.8% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,240 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $899 | $1,050 |
| 2 Bed Rent | $1,020 | $1,110 |
| 3 Bed Rent | $1,400 | $1,450 |
| 4 Bed Rent | $1,500 | $1,430 |
% of Rental Stock
Property Listings — Rockford, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Rockford, IL is 50. This is a increase of 110.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $170,000 | 107.0% |
Listing Count | 63 | 21.0% |
| Listings as % of Homes | 0.5% | 21.0% |
Days on Market | 50 | 110.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 19,700, which has remained stable by 0.6% over the past 5 years. Rockford, IL is a popular place for families, as children make up 26.9% of the population. The area has a poorly educated workforce, with 14.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | 0.6% |
% Under 18 | 26.9% | -4.6% |
% Seniors | 16.6% | 24.8% |
% WFH | 6.1% | 84.8% |
% w/ College Degree | 14.7% | 44.1% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 44.5% of the population identifying as white. The white population has grown by 9.6% in the last 5 years. The second most common race or ethnicity in Rockford, IL is black, making up 36.9% of the population. Foreign-born residents account for 8.6% of the population in Rockford, IL, and this percentage has increased by 24.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 44.5% | 9.6% |
% Black | 36.9% | -6.8% |
% Hispanic | 16.4% | -2.4% |
% Asian | 1.0% | 100.0% |
% Foreign Born | 8.6% | 24.6% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 203 mortgage originations in Rockford, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 13.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 203 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 13.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Rockford, IL
As of 2024, the percent of homes in Rockford, IL under the Section 8 program is 22.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Rockford, IL, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,079 |
Total Units Section 8 | 896 |
% Rentals under Section 8 | 22.3% |
% Occupied Section 8 | 81.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$19 | $899 | $880 |
| 2 Bedroom | $130 | $1,020 | $1,150 |
| 3 Bedroom | $120 | $1,400 | $1,520 |
| 4 Bedroom | $60 | $1,500 | $1,560 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $104,000 |
| Median Household Income | $45,300 |