Lacon, IL 61540 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lacon, IL—61540

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$130,000

8.8% YoY Growth

Household Income

$74,500

30.4% YoY Growth

Days on Market

53.0% Shorter YoY

Home Price Forecast

3.7%

Median Rent

$705

11.1% YoY Growth

1-Bed Rent

$705

8.5% YoY Growth

2-Bed Rent

$795

13.6% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Lacon, IL

As of Dec '25, the median home price in Lacon, IL is $130,000, with a year-over-year change of 8.8%. This indicates that home prices in Lacon, IL are increasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$130,000	8.8%
Single Family	$130,000	8.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Lacon, IL

As of July '25, Rentcast reports the average rent in Lacon, IL is $750, with a year-over-year rent change of 11.1%. Per bedroom, the median rent as of July '25 in Lacon, IL is 1-bedrooms: $705, 2-bedrooms: $795. The most common rental property sizes in Lacon, IL are 2-bedroom and 3-bedroom, accounting for 53.1% and 22.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$705	$750
Studio Rent	N/A	N/A
1 Bed Rent	$705	$705
2 Bed Rent	$795	$795
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

15.6%

2 Bedrooms

53.1%

3 Bedrooms

22.7%

4 Bedrooms

6.6%

5+ Bedrooms

1.9%

Property Listings — Lacon, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Lacon, IL is 25. This is a decrease of -51.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$171,000	12.0%
Listing Count	9	14.0%
Listings as % of Homes	0.5%	14.0%
Days on Market	51	-53.0%

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Demographics — Lacon, IL

As of the latest ACS Survey released in 2023, Lacon, IL has a population of 2,700, which has decreased by -2.5% over the past 5 years. Lacon, IL is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,700	-2.5%
% Under 18	18.5%	-1.1%
% Seniors	25.0%	14.2%
% WFH	7.0%	1,650.0%
% w/ College Degree	19.4%	38.6%

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As of the latest ACS Survey released in 2023, Lacon, IL is a predominantly white area, with 97.1% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Lacon, IL is black, making up 1.0% of the population. Foreign-born residents account for 0.3% of the population in Lacon, IL, and this percentage has decreased by 66.7% 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	97.1%	0.4%
% Black	1.0%	0.0%
% Hispanic	1.0%	-23.1%
% Asian	0.4%	100.0%
% Foreign Born	0.3%	-66.7%

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Mortgage and Risk — Lacon, IL

According to HUD data as of 2023, there were 48 mortgage originations in Lacon, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Lacon, IL. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	48
% Conventional Loans	77.0%
% Government Loans	23.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Lacon, IL

Lacon, 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	$55	$705	$760
2 Bedroom	$165	$795	$960
3 Bedroom	N/A	N/A	$1,240
4 Bedroom	N/A	N/A	$1,310

Lacon, IL—61540

Key Metrics at a Glance

Home Price Trends — Lacon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lacon, IL

% of Rental Stock

Property Listings — Lacon, IL

Demographics — Lacon, IL

Race and Ethnicity

Mortgage and Risk — Lacon, IL

Mortgages

Rentals and Section 8 — Lacon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Lacon, IL

Home Price to Income Ratio

Lacon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Washburn, IL

Varna, IL

La Rose

Sparland, IL

Henry, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.5
Median Home Price	$130,000
Median Household Income	$74,500

Lacon, IL—61540

Key Metrics at a Glance

Home Price Trends — Lacon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lacon, IL

% of Rental Stock

Property Listings — Lacon, IL

Demographics — Lacon, IL

Race and Ethnicity

Mortgage and Risk — Lacon, IL

Mortgages

Rentals and Section 8 — Lacon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Lacon, IL

Home Price to Income Ratio

Lacon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Washburn, IL

Varna, IL

La Rose

Sparland, IL

Henry, IL

Frequently Asked Questions

What is the average home price in Lacon, IL 61540?

How have home prices in Lacon, IL 61540 changed over the past year?

What is the home price projection for Lacon, IL 61540?

What are the demographics of Lacon, IL 61540?

How long does it take homes to sell in Lacon, IL 61540?

What is the average rent price in Lacon, IL 61540?