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Herrick village, IL

ZIP 62431 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62431

Median Home Value
$109,500
Median Rent
$288
Affordability Snapshot
$30,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$703/mo PITI).

5%
Rent-to-Income Ratio

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

1.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

31.7 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 62431 in Herrick village, IL, a household would need roughly $30,000 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 $703. That sits below the local median household income ($71,000), 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 28% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
91.9%+40% vs US avg
x
Vacancy Rate
28.0%+172% vs US avg
x
Broadband Access
74.4%-14% vs US avg
x
4+ Bedrooms
11.1%-25% vs US avg
x
Built Pre-1939
12.4%-3% vs US avg
x
Built Post-2014
0.2%-97% vs US avg
x
Rent Burden >30%
0.0%
x
Mortgage-Free
61.3%+60% vs US avg
x
$109,500
Home Value
$288
Rent
1974
Year Built
2006
Moved In

Residents have lived here since ~2006 on average

Housing Structure

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

  • 1-unit detached82.4%
  • 1-unit attached0.0%
  • 2-9 units0.9%
  • 10+ units0.0%
  • Mobile home & other16.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$109,500
Median rent$288
Owner-occupied91.9%
Vacant28.0%
Price-to-income1.5x
Est. income to buy$30,000