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Hanover village, IL

ZIP 61041 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 61041

Median Home Value
$112,300
Median Rent
$454
Affordability Snapshot
$31,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$721/mo PITI).

12%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

20.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 61041 in Hanover village, IL, a household would need roughly $31,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $721. That sits below the local median household income ($44,464), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 19% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
70.9%+8% vs US avg
x
Vacancy Rate
18.9%+84% vs US avg
x
Broadband Access
86.2%-1% vs US avg
x
4+ Bedrooms
6.8%-54% vs US avg
x
Built Pre-1939
11.9%-7% vs US avg
x
Built Post-2014
6.3%-9% vs US avg
x
Rent Burden >30%
33.0%-34% vs US avg
x
Mortgage-Free
56.8%+49% vs US avg
x
$112,300
Home Value
$454
Rent
1963
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached75.9%
  • 1-unit attached3.3%
  • 2-9 units13.3%
  • 10+ units1.8%
  • Mobile home & other5.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$112,300
Median rent$454
Owner-occupied70.9%
Vacant18.9%
Price-to-income2.5x
Est. income to buy$31,000