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  4. /Centralia, IL - 62801

Centralia, IL—62801

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$106,000
3.2% YoY Growth
Household Income
$53,700
28.8% YoY Growth
Days on Market
68
19.0% Longer YoY
Home Price Forecast
0.9%
Median Rent
$1,100
8.8% YoY Growth
1-Bed Rent
$400
51.5% YoY Growth
2-Bed Rent
$390
25.9% YoY Growth
3-Bed Rent
$1,100
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Centralia, IL

As of May '26, the median home price in Centralia, IL is $106,000, with a year-over-year change of 3.2%. This indicates that home prices in Centralia, 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 TypeMedian Home ValueYoY % Change
All Homes
$106,0003.2%
Single Family $106,0003.9%
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
    		$83,0005.1%
    3 Bed
    		$141,0009.3%
    4 Bed
    		$188,00010.6%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    2.9%
    1 Bedroom
    9.6%
    2 Bedrooms
    32.0%
    3 Bedrooms
    40.3%
    4 Bedrooms
    12.1%
    5+ Bedrooms
    3.1%

    Rental Trends — Centralia, IL

    As of July '25, Rentcast reports the average rent in Centralia, IL is $876, with a year-over-year rent change of 8.8%. Per bedroom, the median rent as of July '25 in Centralia, IL is 1-bedrooms: $400, 2-bedrooms: $556, 3-bedrooms: $981, 4-bedrooms: $1,150. The most common rental property sizes in Centralia, IL are 2-bedroom and 1-bedroom, accounting for 44.9% and 24.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,100$876
    Studio Rent N/AN/A
    1 Bed Rent $400$400
    2 Bed Rent $390$556
    3 Bed Rent $1,100$981
    4 Bed Rent $1,150$1,150
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    % of Rental Stock

    Studio
    6.1%
    1 Bedroom
    24.3%
    2 Bedrooms
    44.9%
    3 Bedrooms
    19.6%
    4 Bedrooms
    4.6%
    5+ Bedrooms
    0.5%

    Property Listings — Centralia, IL

    As of May '26, Realtor.com reports that the median days on market for a home in Centralia, IL is 68. This is a increase of 19.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$135,000-4.0%
    Listing Count
    		606.0%
    Listings as % of Homes0.5%6.0%
    Days on Market
    		6819.0%
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    Demographics — Centralia, IL

    As of the latest ACS Survey released in 2023, Centralia, IL has a population of 19,900, which has decreased by -7.0% over the past 5 years. Centralia, IL is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 16.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		19,900-7.0%
    % Under 18
    		20.5%1.0%
    % Seniors
    		20.0%8.7%
    % WFH
    		5.5%175.0%
    % w/ College Degree
    		16.1%23.8%
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    As of the latest ACS Survey released in 2023, Centralia, IL is a predominantly white area, with 81.3% 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 Centralia, IL is black, making up 10.7% of the population. Foreign-born residents account for 2.7% of the population in Centralia, IL, and this percentage has increased by 28.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		81.3%-1.0%
    % Black
    		10.7%9.2%
    % Hispanic
    		3.6%-10.0%
    % Asian
    		1.2%50.0%
    % Foreign Born
    		2.7%28.6%
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    Mortgage and Risk — Centralia, IL

    According to HUD data as of 2023, there were 244 mortgage originations in Centralia, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Centralia, IL. Investor activity is low, as 3.0% 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
    		244
    % Conventional Loans
    		70.0%
    % Government Loans
    		30.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Centralia, IL

    As of 2024, the percent of homes in Centralia, IL under the Section 8 program is 15.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Centralia, 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
    		531
    Total Units Section 8
    		337
    % Rentals under Section 8
    		15.0%
    % Occupied Section 8
    		95.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$480$400$880
    2 Bedroom$700$390$1,090
    3 Bedroom$310$1,100$1,410
    4 Bedroom$490$1,150$1,640

    Affordability — Centralia, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio1.8
    Median Home Price$106,000
    Median Household Income$53,700

    Centralia, IL — ZIP Code Boundary Map

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    Frequently Asked Questions