The story of this market
The typical home in ZIP 62440 sells for about $135,000, or $85 per square foot.
Prices are down 2.5% from a year ago, which gives buyers more room to negotiate. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 62440 — Lerna
The housing market in 62440 is characterized by low inventory and stable, affordable pricing. Market activity remains slow, reflecting the rural nature of the area and limited turnover in the local housing stock.
This area is best suited for budget-conscious buyers, families seeking a rural lifestyle, and those who prioritize affordability over proximity to major urban employment centers.
Median prices moved down 2.5% year over year.
Homes spend a median of 65 days on market with 4.2 months of supply — a balanced-paced 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 2.4% · poverty 6.3% — 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 4.0%/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 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 62440, Coles County IL
Local schools are primarily served by rural district structures with limited comparative data available.
The area is subject to standard Midwestern weather patterns, including seasonal storm risks; flood insurance requirements vary by specific parcel location.
Economic momentum is tied to regional agricultural and small-scale industrial sectors with limited large-scale commercial 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.
Commutes are primarily car-dependent, with residents traveling to nearby regional employment hubs via state and local routes.
Recreational opportunities include local parks and proximity to rural outdoor spaces, with limited large-scale shopping or entertainment venues within the immediate vicinity.
The rental market is characterized by limited inventory and stable demand, with a mix of single-family rentals and public housing options.
The local economy is driven by agriculture and small-scale regional services, with limited major corporate presence.
Transportation is almost exclusively private vehicle-based, with limited public transit infrastructure available.
There are no major large-scale commercial or residential developments currently reported for this ZIP code.
The county appraisal district manages assessments based on annual market value updates.
Parcels are subject to local school district, county, and township tax levies.
Property insurance premiums are generally stable but sensitive to regional storm and wind risk factors.
Illinois is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a residential real property disclosure report detailing known material defects.
Data retrieved from data.census.gov ZCTA-level tables.
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.
- Richards Farm Restaurant4.516.7 mi
- Fox Ridge State Park4.77 mi
- Lincoln Log Cabin State Historic Site4.74 mi
- Douglas-Hart Nature Center4.86.1 mi
- Lytle Park4.78.5 mi
- Mattoon Lanes LLC4.38 mi
- Lincoln Log Cabin State Historic Site4.74 mi
- Ashmore Estates4.714 mi
- Historic Cumberland County Covered Bridge4.712.6 mi
- Two Story Outhouse4.512.7 mi
- Fox Ridge State Park4.77 mi
- Mattoon Peterson Park4.67 mi
- Douglas-Hart Nature Center4.86.1 mi
- Lytle Park4.78.5 mi
- Lytle Pool4.58.5 mi
- Defense Depot4.89.8 mi
- Rural King4.46.5 mi
- Marshalls4.36.6 mi
- Cross County Mall3.76.6 mi
- Rural King4.47.6 mi
- West Park Plaza4.16.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Small-scale neighborhood green spaces serving the local population.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.