Decatur, IL—62526
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Decatur, IL
As of Oct '25, the median home price in Decatur, IL is $95,000, with a year-over-year change of 6.2%. This indicates that home prices in Decatur, IL are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $95,000 | 6.2% |
| Single Family | $94,000 | 6.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $57,000 | 1.8% |
3 Bed | $126,000 | 5.9% |
4 Bed | $186,000 | 5.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Decatur, IL
As of July '25, Rentcast reports the average rent in Decatur, IL is $904, with a year-over-year rent change of -6.2%. Per bedroom, the median rent as of July '25 in Decatur, IL is 1-bedrooms: $623, 2-bedrooms: $746, 3-bedrooms: $1,360, 4-bedrooms: $849. The most common rental property sizes in Decatur, IL are 2-bedroom and 1-bedroom, accounting for 37.4% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $795 | $904 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $623 |
| 2 Bed Rent | $750 | $746 |
| 3 Bed Rent | $1,100 | $1,360 |
| 4 Bed Rent | $849 | $849 |
% of Rental Stock
Property Listings — Decatur, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Decatur, IL is 40. This is a decrease of -14.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $129,000 | 28.0% |
Listing Count | 78 | -33.0% |
| Listings as % of Homes | 0.4% | -33.0% |
Days on Market | 40 | -14.0% |
Demographics — Decatur, IL
As of the latest ACS Survey released in 2023, Decatur, IL has a population of 31,200, which has decreased by -3.4% over the past 5 years. Decatur, IL is a moderately popular place for families, as children make up 19.8% of the population. The area has a poorly educated workforce, with 20.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,200 | -3.4% |
% Under 18 | 19.8% | -3.4% |
% Seniors | 21.6% | 2.4% |
% WFH | 7.7% | 285.0% |
% w/ College Degree | 20.0% | 13.6% |
As of the latest ACS Survey released in 2023, Decatur, IL is a predominantly white area, with 67.6% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Decatur, IL is black, making up 22.3% of the population. Foreign-born residents account for 3.8% of the population in Decatur, IL, and this percentage has increased by 90.0% 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 | 67.6% | -6.6% |
% Black | 22.3% | 34.3% |
% Hispanic | 3.1% | 14.8% |
% Asian | 2.0% | 81.8% |
% Foreign Born | 3.8% | 90.0% |
Mortgage and Risk — Decatur, IL
According to HUD data as of 2023, there were 418 mortgage originations in Decatur, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Decatur, IL. Investor activity is low, as 8.0% 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 | 418 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Decatur, IL
As of 2024, the percent of homes in Decatur, IL under the Section 8 program is 20.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Decatur, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,480 |
Total Units Section 8 | 1,245 |
% Rentals under Section 8 | 20.2% |
% Occupied Section 8 | 84.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $700 | $790 |
| 2 Bedroom | $230 | $750 | $980 |
| 3 Bedroom | $190 | $1,100 | $1,290 |
| 4 Bedroom | $681 | $849 | $1,530 |
Affordability — Decatur, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.6 |
| Median Home Price | $95,000 |
| Median Household Income | $48,200 |