Carbondale, IL—62901
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carbondale, IL
As of Oct '25, the median home price in Carbondale, IL is $119,000, with a year-over-year change of 13.8%. This indicates that home prices in Carbondale, IL are increasing. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $119,000 | 13.8% |
| Single Family | $119,000 | 14.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $71,000 | 9.2% |
3 Bed | $141,000 | 11.9% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Carbondale, IL
As of July '25, Rentcast reports the average rent in Carbondale, IL is $708, with a year-over-year rent change of -10.5%. Per bedroom, the median rent as of July '25 in Carbondale, IL is studios: $398, 1-bedrooms: $584, 2-bedrooms: $937, 3-bedrooms: $1,290, 4-bedrooms: $1,410. The most common rental property sizes in Carbondale, IL are 2-bedroom and 1-bedroom, accounting for 35.5% and 31.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $500 | $708 |
| Studio Rent | $400 | $398 |
| 1 Bed Rent | $550 | $584 |
| 2 Bed Rent | $850 | $937 |
| 3 Bed Rent | $1,200 | $1,290 |
| 4 Bed Rent | $1,320 | $1,410 |
% of Rental Stock
Property Listings — Carbondale, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Carbondale, IL is 93. This is a decrease of -37.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $77,200 | -27.0% |
Listing Count | 124 | 21.0% |
| Listings as % of Homes | 0.6% | 21.0% |
Days on Market | 93 | -37.0% |
Demographics — Carbondale, IL
As of the latest ACS Survey released in 2023, Carbondale, IL has a population of 22,900, which has decreased by -12.6% over the past 5 years. Carbondale, IL is a less popular place for families, as children make up 14.3% of the population. The area has a highly educated workforce, with 47.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,900 | -12.6% |
% Under 18 | 14.3% | 0.7% |
% Seniors | 11.4% | 8.6% |
% WFH | 9.7% | 259.3% |
% w/ College Degree | 47.9% | 2.1% |
As of the latest ACS Survey released in 2023, Carbondale, IL is a predominantly white area, with 58.9% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Carbondale, IL is black, making up 25.8% of the population. Foreign-born residents account for 8.9% of the population in Carbondale, IL, and this percentage has increased by 2.3% 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 | 58.9% | -4.2% |
% Black | 25.8% | 1.6% |
% Hispanic | 5.3% | -5.4% |
% Asian | 6.1% | 29.8% |
% Foreign Born | 8.9% | 2.3% |
Mortgage and Risk — Carbondale, IL
According to HUD data as of 2023, there were 196 mortgage originations in Carbondale, IL, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Carbondale, IL. Investor activity is high, as 19.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 196 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 19.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Carbondale, IL
As of 2024, the percent of homes in Carbondale, IL under the Section 8 program is 13.2%. 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 Carbondale, 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 | 1,321 |
Total Units Section 8 | 942 |
% Rentals under Section 8 | 13.2% |
% Occupied Section 8 | 73.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $550 | $800 |
| 2 Bedroom | $160 | $850 | $1,010 |
| 3 Bedroom | $120 | $1,200 | $1,320 |
| 4 Bedroom | $90 | $1,320 | $1,410 |
Affordability — Carbondale, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $119,000 |
| Median Household Income | $33,000 |