Loves Park, Illinois Housing Market Prices
Loves Park Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 48% below the Illinois median$78,404
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Median rent 12% below the Illinois median$1,115
Housing Market Overview
| Metric | Loves Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,404 | $149,936 | $248,835 |
| Price Trend (Annual %) | 129.8% | 2.5% | 7.5% |
| Median Gross Rent | $1,115 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Loves Park is about 48% lower than in Illinois. Rent is about 12% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Loves Park, up about 129.8% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Loves Park rose about 39.4% between 2015 and 2024, from $800 to $1,115. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Loves Park.
Buying the median-priced home in Loves Park costs roughly 5.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Loves Park. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Loves Park | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,404 | $149,936 | $248,835 |
| Median Household Income | $60,940 | $84,042 | $80,455 |
| Price-to-Income Ratio | 1.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Loves Park fell about 26.8%, while median household income rose about 23.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Loves Park | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.1% | 61.9% | 58.5% |
| Rental Rate | 39.2% | 30.4% | 31.2% |
| Vacancy Rate | 3.7% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Loves Park has a homeownership rate of 57.1%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 3.7%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Loves Park | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1981 | 1969 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Loves Park was built around 1981. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Loves Park, IL Housing Compared With Nearby Cities
How Loves Park, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Loves Park, IL | 23,190 | $78,404 #2/2 | $1,115 #1/2 | 59.3% #1/2 |
| Rockford, IL | 139,970 | $100,992 | $980 | 56.8% |
Frequently Asked Questions
Common questions about the housing market in Loves Park, Illinois.
What is the median home price in Loves Park, Illinois?
The median home price in Loves Park, Illinois is $78,404, lower than the Illinois average of $149,936.
What is the average home price in Loves Park, Illinois?
The typical home price in Loves Park, Illinois, reported as the median sale price, is $78,404. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Loves Park, Illinois?
The median gross rent in Loves Park, Illinois is $1,115 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Loves Park in 2020?
In 2020, the median gross rent in Loves Park, Illinois was $889 per month.
What is the price-to-rent ratio in Loves Park, Illinois?
The price-to-rent ratio in Loves Park, Illinois is about 5.9, meaning it would take roughly 5.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Loves Park.
Are home prices or rent rising faster in Loves Park, Illinois?
Both home prices and rent are rising in Loves Park, up about 129.8% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Loves Park, Illinois?
57.1% of households in Loves Park, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Loves Park, Illinois?
The housing vacancy rate in Loves Park, Illinois is 3.7%, lower than the Illinois average of 7.7%.
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