Mahomet, IL—61853
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mahomet, IL
As of Oct '25, the median home price in Mahomet, IL is $335,000, with a year-over-year change of 3.1%. This indicates that home prices in Mahomet, IL are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $335,000 | 3.1% |
| Single Family | $341,000 | 3.0% |
| Condos | $270,000 | 8.0% |
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 | $283,000 | 4.0% |
4 Bed | $402,000 | 2.6% |
| 5 Bed | $524,000 | 0.6% |
% of Housing Stock
Rental Trends — Mahomet, IL
As of July '25, Rentcast reports the average rent in Mahomet, IL is $1,800, with a year-over-year rent change of -6.2%. Per bedroom, the median rent as of July '25 in Mahomet, IL is 2-bedrooms: $1,600, 3-bedrooms: $1,900, 4-bedrooms: $2,420. The most common rental property sizes in Mahomet, IL are 2-bedroom and 3-bedroom, accounting for 62.1% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,640 | $1,800 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $1,920 | $1,900 |
| 4 Bed Rent | $2,420 | $2,420 |
% of Rental Stock
Property Listings — Mahomet, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mahomet, IL is 55. This is a decrease of -4.0% 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 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 | $443,000 | 2.0% |
Listing Count | 53 | 9.0% |
| Listings as % of Homes | 0.8% | 9.0% |
Days on Market | 55 | -4.0% |
Demographics — Mahomet, IL
As of the latest ACS Survey released in 2023, Mahomet, IL has a population of 14,600, which has increased by 4.7% over the past 5 years. Mahomet, IL is a popular place for families, as children make up 30.8% of the population. The area has a highly educated workforce, with 51.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,600 | 4.7% |
% Under 18 | 30.8% | 7.3% |
% Seniors | 13.1% | 18.0% |
% WFH | 12.4% | 85.1% |
% w/ College Degree | 51.7% | 14.6% |
As of the latest ACS Survey released in 2023, Mahomet, IL is a predominantly white area, with 89.3% 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 Mahomet, IL is hispanic, making up 5.1% of the population. Foreign-born residents account for 4.5% of the population in Mahomet, IL, and this percentage has increased by 45.2% 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 | 89.3% | -1.0% |
% Black | 0.4% | -81.8% |
% Hispanic | 5.1% | 4.1% |
% Asian | 2.8% | 180.0% |
% Foreign Born | 4.5% | 45.2% |
Mortgage and Risk — Mahomet, IL
According to HUD data as of 2023, there were 230 mortgage originations in Mahomet, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Mahomet, IL. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Mahomet, IL
Mahomet, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 22 |
Total Units Section 8 | 22 |
% Rentals under Section 8 | 2.7% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,090 |
| 2 Bedroom | -$310 | $1,600 | $1,290 |
| 3 Bedroom | -$240 | $1,920 | $1,680 |
| 4 Bedroom | -$710 | $2,420 | $1,710 |
Affordability — Mahomet, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $335,000 |
| Median Household Income | $115,000 |