Rockford, IL—61107
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 $210,000, with a year-over-year change of 7.3%. This indicates that home prices in Rockford, IL are increasing. According to Zillow, the 1-year price projection is 4.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | 7.3% |
| Single Family | $211,000 | 7.7% |
| Condos | $199,000 | 8.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $161,000 | 7.3% |
3 Bed | $204,000 | 7.9% |
4 Bed | $278,000 | 6.5% |
| 5 Bed | $364,000 | 4.6% |
% of Housing Stock
Rental Trends — Rockford, IL
As of July '25, Rentcast reports the average rent in Rockford, IL is $1,300, with a year-over-year rent change of 21.5%. Per bedroom, the median rent as of July '25 in Rockford, IL is studios: $1,230, 1-bedrooms: $936, 2-bedrooms: $1,270, 3-bedrooms: $1,750, 4-bedrooms: $1,350. The most common rental property sizes in Rockford, IL are 2-bedroom and 3-bedroom, accounting for 53.2% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,300 |
| Studio Rent | $1,500 | $1,230 |
| 1 Bed Rent | $925 | $936 |
| 2 Bed Rent | $1,250 | $1,270 |
| 3 Bed Rent | $1,450 | $1,750 |
| 4 Bed Rent | $1,350 | $1,350 |
% 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 35. This is a increase of 22.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $249,000 | 13.0% |
Listing Count | 94 | -11.0% |
| Listings as % of Homes | 0.5% | -11.0% |
Days on Market | 35 | 22.0% |
Demographics — Rockford, IL
As of the latest ACS Survey released in 2023, Rockford, IL has a population of 29,500, which has decreased by -4.6% over the past 5 years. Rockford, IL is a moderately popular place for families, as children make up 21.3% of the population. The area has a moderately educated workforce, with 36.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,500 | -4.6% |
% Under 18 | 21.3% | 2.9% |
% Seniors | 23.3% | 7.4% |
% WFH | 12.8% | 166.7% |
% w/ College Degree | 36.7% | -1.6% |
As of the latest ACS Survey released in 2023, Rockford, IL is a predominantly white area, with 67.8% of the population identifying as white. The white population has shrunk by 7.9% in the last 5 years. The second most common race or ethnicity in Rockford, IL is hispanic, making up 14.8% of the population. Foreign-born residents account for 9.9% of the population in Rockford, IL, and this percentage has decreased by 11.6% 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 | 67.8% | -7.9% |
% Black | 8.7% | 14.5% |
% Hispanic | 14.8% | 35.8% |
% Asian | 4.5% | -4.3% |
% Foreign Born | 9.9% | -11.6% |
Mortgage and Risk — Rockford, IL
According to HUD data as of 2023, there were 563 mortgage originations in Rockford, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Rockford, IL. Investor activity is low, as 4.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 563 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Rockford, IL
As of 2024, the percent of homes in Rockford, IL under the Section 8 program is 7.3%. 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 Rockford, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 529 |
Total Units Section 8 | 272 |
% Rentals under Section 8 | 7.3% |
% Occupied Section 8 | 72.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$15 | $925 | $910 |
| 2 Bedroom | -$60 | $1,250 | $1,190 |
| 3 Bedroom | $120 | $1,450 | $1,570 |
| 4 Bedroom | $270 | $1,350 | $1,620 |
Affordability — Rockford, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $210,000 |
| Median Household Income | $75,500 |