Rockford, IL—61104
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 $98,000, with a year-over-year change of 6.7%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 5.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $98,000 | 6.7% |
| Single Family | $98,000 | 7.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $90,000 | 9.8% |
3 Bed | $101,000 | 7.4% |
4 Bed | $107,000 | 7.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,100, with a year-over-year rent change of 10.0%. Per bedroom, the median rent as of July '25 in Rockford, IL is 1-bedrooms: $800, 2-bedrooms: $1,120, 3-bedrooms: $1,460, 4-bedrooms: $1,450. The most common rental property sizes in Rockford, IL are 2-bedroom and 1-bedroom, accounting for 43.3% and 24.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $800 |
| 2 Bed Rent | $1,100 | $1,120 |
| 3 Bed Rent | $1,400 | $1,460 |
| 4 Bed Rent | $1,450 | $1,450 |
% 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 48. This is a increase of 8.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $164,000 | 24.0% |
Listing Count | 46 | 32.0% |
| Listings as % of Homes | 0.3% | 32.0% |
Days on Market | 48 | 8.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 17,600, which has decreased by -9.6% over the past 5 years. Rockford, IL is a popular place for families, as children make up 26.4% of the population. The area has a poorly educated workforce, with 9.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | -9.6% |
% Under 18 | 26.4% | -6.7% |
% Seniors | 11.4% | 12.9% |
% WFH | 4.7% | 56.7% |
% w/ College Degree | 9.1% | 9.6% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 40.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Rockford, IL is hispanic, making up 25.8% of the population. Foreign-born residents account for 16.2% of the population in Rockford, IL, and this percentage has increased by 8.0% 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 | 40.8% | -1.0% |
% Black | 25.3% | -10.0% |
% Hispanic | 25.8% | 3.6% |
% Asian | 4.3% | 10.3% |
% Foreign Born | 16.2% | 8.0% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 119 mortgage originations in Rockford, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 15.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 119 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 15.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Rockford, IL
As of 2024, the percent of homes in Rockford, IL under the Section 8 program is 16.1%. 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. In Rockford, 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 | 1,082 |
Total Units Section 8 | 798 |
% Rentals under Section 8 | 16.1% |
% Occupied Section 8 | 82.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $800 | $780 |
| 2 Bedroom | -$80 | $1,100 | $1,020 |
| 3 Bedroom | -$50 | $1,400 | $1,350 |
| 4 Bedroom | -$70 | $1,450 | $1,380 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $98,000 |
| Median Household Income | $32,200 |