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Flanagan village, IL

ZIP 61740 — 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 61740

Median Home Value
$130,200
Median Rent
$561
Affordability Snapshot
$36,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$836/mo PITI).

8%
Rent-to-Income Ratio

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

1.6x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

19.3 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 61740 in Flanagan village, IL, a household would need roughly $36,000 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 $836. That sits below the local median household income ($79,479), 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 14% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
87.4%+34% vs US avg
x
Vacancy Rate
13.6%+32% vs US avg
x
Broadband Access
90.5%+4% vs US avg
x
4+ Bedrooms
3.1%-79% vs US avg
x
Built Pre-1939
6.4%-50% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
13.7%-72% vs US avg
x
Mortgage-Free
55.1%+44% vs US avg
x
$130,200
Home Value
$561
Rent
1942
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 detached86.4%
  • 1-unit attached9.7%
  • 2-9 units3.9%
  • 10+ units0.0%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$130,200
Median rent$561
Owner-occupied87.4%
Vacant13.6%
Price-to-income1.6x
Est. income to buy$36,000