Washburn, IL—61570
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Washburn, IL
As of Oct '25, the median home price in Washburn, IL is $130,000, with a year-over-year change of 4.3%. This indicates that home prices in Washburn, IL are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $130,000 | 4.3% |
| Single Family | $130,000 | 4.0% |
| 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 | $140,000 | 2.9% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Washburn, IL
Washburn, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $650 | $650 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $650 | $650 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Washburn, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Washburn, IL is 23. This is a decrease of -72.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $144,000 | -69.0% |
Listing Count | 4 | 67.0% |
| Listings as % of Homes | 0.1% | 67.0% |
Days on Market | 23 | -72.0% |
Demographics — Washburn, IL
As of the latest ACS Survey released in 2023, Washburn, IL has a population of 1,620, which has decreased by -9.3% over the past 5 years. Washburn, IL is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 17.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,620 | -9.3% |
% Under 18 | 23.0% | -5.3% |
% Seniors | 18.1% | 16.0% |
% WFH | 8.7% | 200.0% |
% w/ College Degree | 17.3% | 21.0% |
As of the latest ACS Survey released in 2023, Washburn, IL is a predominantly white area, with 97.7% of the population identifying as white. The white population has grown by 2.0% in the last 5 years. The second most common race or ethnicity in Washburn, IL is hispanic, making up 1.0% of the population. Foreign-born residents account for 0.4% of the population in Washburn, IL, and this percentage has increased by 100.0% 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 | 97.7% | 2.0% |
% Black | 0.2% | ∞% |
% Hispanic | 1.0% | -28.6% |
% Asian | 0.1% | -50.0% |
% Foreign Born | 0.4% | 100.0% |
Mortgage and Risk — Washburn, IL
According to HUD data as of 2023, there were 49 mortgage originations in Washburn, IL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Washburn, 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 | 49 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Washburn, IL
Washburn, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 30 |
Total Units Section 8 | 30 |
% Rentals under Section 8 | 21.5% |
% Occupied Section 8 | 64.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | $310 | $650 | $960 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,310 |
Affordability — Washburn, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.6 |
| Median Home Price | $130,000 |
| Median Household Income | $76,700 |