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New Salem village, IL

ZIP 62357 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62357

Median Home Value
$131,700
Median Rent
$500
Affordability Snapshot
$36,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$846/mo PITI).

10%
Rent-to-Income Ratio

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

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

21.9 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 62357 in New Salem 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 $846. That sits below the local median household income ($59,375), 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 15% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
49.3%-25% vs US avg
x
Vacancy Rate
15.5%+50% vs US avg
x
Broadband Access
42.3%-51% vs US avg
x
4+ Bedrooms
8.3%-44% vs US avg
x
Built Pre-1939
1.2%-91% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
33.3%-33% vs US avg
x
Mortgage-Free
62.9%+65% vs US avg
x
$131,700
Home Value
$500
Rent
1938
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached96.4%
  • 1-unit attached0.0%
  • 2-9 units0.0%
  • 10+ units0.0%
  • Mobile home & other3.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$131,700
Median rent$500
Owner-occupied49.3%
Vacant15.5%
Price-to-income2.2x
Est. income to buy$36,000