What is the average home price in Payson, IL 62360?

As of May '26, the median home price in Payson, IL 62360 is $172,000, based on Zillow home estimates.

How have home prices in Payson, IL 62360 changed over the past year?

As of May '26, home prices have decreased 5.5% over the past year, according to Zillow home estimates data.

What is the home price projection for Payson, IL 62360?

As of May '26, Zillow projects home prices in Payson, IL 62360 to increase 1.4% in the next year.

What are the demographics of Payson, IL 62360?

According to the latest Census, the demographics of Payson, IL 62360 are 95.8% White, 0.0% Black, 1.8% Asian, 1.1% Hispanic. The population is 1,540, with 25.5% under 18 years old.

How long does it take homes to sell in Payson, IL 62360?

According to Realtor.com, as of May '26, the median home in Payson, IL 62360 is on the market for 155 days. This is an increase of 33.0% from last year.

What is the average rent price in Payson, IL 62360?

The average rent price in Payson, IL 62360, as of the latest data, is N/A. The average rent for 1 bedroom homes is N/A. For 2, 3, and 4 bedroom homes, the average rent is N/A, N/A, and N/A respectively.

Payson, IL 62360 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Payson, IL—62360

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$172,000

5.5% YoY Growth

Household Income

$58,400

2.6% YoY Growth

Days on Market

155

33.0% Longer YoY

Home Price Forecast

1.4%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Payson, IL

As of May '26, the median home price in Payson, IL is $172,000, with a year-over-year change of -5.5%. This indicates that home prices in Payson, IL are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$172,000	-5.5%
Single Family	$172,000	-3.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Payson, IL

Payson, IL lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	N/A	N/A
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	N/A	N/A

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% of Rental Stock

1 Bedroom

9.7%

2 Bedrooms

47.2%

3 Bedrooms

34.7%

4 Bedrooms

8.3%

Property Listings — Payson, IL

As of May '26, Realtor.com reports that the median days on market for a home in Payson, IL is 155. This is a increase of 33.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$207,000	11.0%
Listing Count	7	325.0%
Listings as % of Homes	N/A	325.0%
Days on Market	155	33.0%

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Demographics — Payson, IL

As of the latest ACS Survey released in 2023, Payson, IL has a population of 1,540, which has decreased by -19.7% over the past 5 years. Payson, IL is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 23.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,540	-19.7%
% Under 18	25.5%	-5.6%
% Seniors	21.6%	61.2%
% WFH	6.9%	165.4%
% w/ College Degree	23.4%	-20.7%

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As of the latest ACS Survey released in 2023, Payson, IL is a predominantly white area, with 95.8% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Payson, IL is asian, making up 1.8% of the population. Foreign-born residents account for 0.3% of the population in Payson, IL, and this percentage has increased by Inf% 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	95.8%	-3.6%
% Black	0.0%	N/A
% Hispanic	1.1%	83.3%
% Asian	1.8%	∞%
% Foreign Born	0.3%	∞%

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Mortgage and Risk — Payson, IL

According to HUD data as of 2023, there were 16 mortgage originations in Payson, IL, of which 38.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Payson, IL. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	16
% Conventional Loans	38.0%
% Government Loans	62.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	0.0%

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Rentals and Section 8 — Payson, IL

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

Section 8 Market Size

Total Units under HUD	24
Total Units Section 8	0
% 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	$780
2 Bedroom	N/A	N/A	$1,020
3 Bedroom	N/A	N/A	$1,320
4 Bedroom	N/A	N/A	$1,380

Payson, IL—62360

Key Metrics at a Glance

Home Price Trends — Payson, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Payson, IL

% of Rental Stock

Property Listings — Payson, IL

Demographics — Payson, IL

Race and Ethnicity

Mortgage and Risk — Payson, IL

Mortgages

Rentals and Section 8 — Payson, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Payson, IL

Home Price to Income Ratio

Payson, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Plainville, IL

Hull, IL

Quincy, IL

Quincy, IL

Fowler, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$172,000
Median Household Income	$58,400