The story of this market
The typical home in ZIP 61062 sells for about $170,000, or $135 per square foot.
Prices are down 25.1% from a year ago, which gives buyers more room to negotiate. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $977 a month.
ZIP 61062 — Pearl City
The housing market in 61062 is experiencing a significant correction with a sharp year-over-year decline in median sale prices. Low sales volume and high months of supply indicate a cooling market where buyers have more leverage. The area remains a rural, stable community with limited new development activity.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with lower housing costs, though it requires a commute for most professional employment.
Median prices moved down 25.1% year over year.
Homes spend a median of 68 days on market with 8.4 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.5% · poverty 4.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 61062, Illinois
The area is served by local rural districts with limited public data available for specific school-level performance ratings.
The region is subject to standard Midwestern weather risks including severe thunderstorms and occasional flooding; insurance availability remains stable.
Economic momentum is primarily driven by local agriculture and small-scale commerce, with limited large-scale industrial development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Residents typically rely on personal vehicles for commutes to regional employment hubs in Freeport or Rockford.
The area features rural landscapes, local parks, and proximity to outdoor activities like fishing and hiking in the rolling hills of northwestern Illinois.
The rental market is limited in depth, primarily consisting of single-family homes with low turnover and minimal investor-driven short-term rental activity.
The economy is largely agricultural with support from local small businesses and services in nearby Freeport.
Transportation is entirely dependent on private vehicle use via state and county road networks.
No major commercial or residential developments are currently reported for this rural ZIP code.
Assessments are conducted by the respective county appraisal offices based on market value trends.
Parcels are subject to local school district, county, and township tax levies.
Standard property insurance is available, though premiums are influenced by regional weather risk profiles.
Illinois is a judicial foreclosure state requiring court intervention.
Sellers are required to provide a residential real property disclosure report covering known material defects.
Data retrieved from data.census.gov ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Local community green space for recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.