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  4. /Flanagan, IL - 61740

Flanagan, IL—61740

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$164,000
17.9% YoY Growth
Household Income
$79,500
50.2% YoY Growth
Days on Market
39
54.0% Shorter YoY
Home Price Forecast
4.2%
Median Rent
N/A
N/A
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Flanagan, IL

As of May '26, the median home price in Flanagan, IL is $164,000, with a year-over-year change of 17.9%. This indicates that home prices in Flanagan, IL are increasing. According to Zillow, the 1-year price projection is 4.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$164,00017.9%
Single Family $164,00015.5%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$99,00017.9%
    3 Bed
    		$174,00016.0%
    4 Bed
    		$225,00012.5%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.2%
    1 Bedroom
    1.6%
    2 Bedrooms
    31.6%
    3 Bedrooms
    40.1%
    4 Bedrooms
    22.2%
    5+ Bedrooms
    3.1%

    Rental Trends — Flanagan, IL

    Flanagan, IL lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    Studio
    5.5%
    1 Bedroom
    4.1%
    2 Bedrooms
    60.3%
    3 Bedrooms
    30.1%

    Property Listings — Flanagan, IL

    As of May '26, Realtor.com reports that the median days on market for a home in Flanagan, IL is 39. This is a decrease of -54.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$149,000-33.0%
    Listing Count
    		8120.0%
    Listings as % of Homes0.3%120.0%
    Days on Market
    		39-54.0%
    Loading chart...

    Demographics — Flanagan, IL

    As of the latest ACS Survey released in 2023, Flanagan, IL has a population of 1,430, which has decreased by -7.1% over the past 5 years. Flanagan, IL is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 21.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		1,430-7.1%
    % Under 18
    		23.3%19.5%
    % Seniors
    		26.1%0.8%
    % WFH
    		13.9%98.6%
    % w/ College Degree
    		21.1%15.3%
    Loading chart...

    As of the latest ACS Survey released in 2023, Flanagan, IL is a predominantly white area, with 96.1% of the population identifying as white. The white population has grown by 2.9% in the last 5 years. The second most common race or ethnicity in Flanagan, IL is hispanic, making up 1.6% of the population. Foreign-born residents account for 1.7% of the population in Flanagan, IL, and this percentage has decreased by 48.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		96.1%2.9%
    % Black
    		0.6%-53.8%
    % Hispanic
    		1.6%-52.9%
    % Asian
    		0.6%-14.3%
    % Foreign Born
    		1.7%-48.5%
    Loading chart...

    Mortgage and Risk — Flanagan, IL

    According to HUD data as of 2023, there were 59 mortgage originations in Flanagan, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Flanagan, IL. Investor activity is low, as 8.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		59
    % Conventional Loans
    		78.0%
    % Government Loans
    		22.0%
    % Investor Loans
    		8.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		7.0%
    Loading chart...
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    Rentals and Section 8 — Flanagan, IL

    Flanagan, IL lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		1
    Total Units Section 8
    		1
    % Rentals under Section 8
    		2.7%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$700
    2 BedroomN/AN/A$910
    3 BedroomN/AN/A$1,170
    4 BedroomN/AN/A$1,210

    Affordability — Flanagan, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio1.5
    Median Home Price$164,000
    Median Household Income$79,500

    Flanagan, IL — ZIP Code Boundary Map

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    Frequently Asked Questions