Tolono, IL—61880
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tolono, IL
As of Nov '25, the median home price in Tolono, IL is $241,000, with a year-over-year change of 8.1%. This indicates that home prices in Tolono, IL are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $241,000 | 8.1% |
| Single Family | $244,000 | 8.0% |
| 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 | $230,000 | 8.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Tolono, IL
As of July '25, Rentcast reports the average rent in Tolono, IL is $2,100, with a year-over-year rent change of 72.1%. Per bedroom, the median rent as of July '25 in Tolono, IL is 4-bedrooms: $2,100. The most common rental property sizes in Tolono, IL are 2-bedroom and 3-bedroom, accounting for 69.5% and 21.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,100 |
| Studio 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 |
| 4 Bed Rent | $2,100 | $2,100 |
% of Rental Stock
Property Listings — Tolono, IL
As of Nov '25, Realtor.com reports that the median days on market for a home in Tolono, IL is 74. This is a increase of 4.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $299,000 | -23.0% |
Listing Count | 8 | 133.0% |
| Listings as % of Homes | 0.4% | 133.0% |
Days on Market | 74 | 4.0% |
Demographics — Tolono, IL
As of the latest ACS Survey released in 2023, Tolono, IL has a population of 4,560, which has increased by 19.0% over the past 5 years. Tolono, IL is a moderately popular place for families, as children make up 24.1% of the population. The area has a moderately educated workforce, with 27.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,560 | 19.0% |
% Under 18 | 24.1% | -8.4% |
% Seniors | 12.4% | 10.7% |
% WFH | 5.5% | 0.0% |
% w/ College Degree | 27.8% | -17.5% |
As of the latest ACS Survey released in 2023, Tolono, IL is a predominantly white area, with 94.0% of the population identifying as white. The white population has grown by 4.0% in the last 5 years. The second most common race or ethnicity in Tolono, IL is asian, making up 1.5% of the population. Foreign-born residents account for 1.2% of the population in Tolono, IL, and this percentage has decreased by 25.0% 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 | 94.0% | 4.0% |
% Black | 0.7% | -78.1% |
% Hispanic | 0.6% | -82.4% |
% Asian | 1.5% | 87.5% |
% Foreign Born | 1.2% | -25.0% |
Mortgage and Risk — Tolono, IL
According to HUD data as of 2023, there were 161 mortgage originations in Tolono, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Tolono, IL. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 161 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Rentals and Section 8 — Tolono, IL
Tolono, 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 | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $950 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | -$840 | $2,100 | $1,260 |
Affordability — Tolono, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $241,000 |
| Median Household Income | $89,100 |