The story of this market
The typical home in ZIP 61031 sells for about $169,900, or $97 per square foot.
Prices are up +4.8% from a year ago, so sellers still have some momentum. Homes take about 7 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $822 a month.
ZIP 61031 — Franklin Grove
The housing market in ZIP 61031 is characterized by very low inventory and limited sales activity, typical of a small rural village. Prices have shown modest growth, but the lack of recent closed sales makes current market velocity difficult to quantify beyond the tight supply. Figures for specific metrics like median days on market and sale-to-list ratios are based on limited active listings.
This ZIP is best suited for local families and buyers seeking a quiet, rural village lifestyle with affordable housing options compared to larger regional hubs.
Median prices moved up 4.8% year over year.
Homes spend a median of 7 days on market with 0.2 months of supply — a fast-moving market.
50% of listings have cut prices · homes sell at 100% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 6.8% — 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 10.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 61031, Lee County IL
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.
Franklin Grove features local community parks and is situated within reach of rural outdoor recreation areas in Lee County.
The rental market in 61031 is characterized by a 28.2% renter share with limited inventory and stable demand.
The local economy is primarily driven by agriculture and small-scale local services within the broader Lee County economic region.
Data retrieved from Census ZCTA 61031 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. Source: NCES EDGE public school locations 2023-24.
A notable local nature preserve offering trails and outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.