61531 — Knox County, Illinois Market Snapshot
Housing market data for zip code 61531 in Knox County, Illinois. Updated monthly with median prices, days on market, and more.
Market Sales Data
10 sales in 2026 (year to date)
Median Sale Price
$122,500
Days to Sell
55
Homes Sold
10
Inventory
6
Sale-to-List
102.4%
New Listings
9
Price/SqFt
$85
Pending Sales
9
Conforming Loan Available
Most homebuyers in 61531 can comfortably use conventional financing. The median home price of $122,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
61531's market is balanced with homes taking an average of 55 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes in 61531 are selling 2.4% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 61531 can comfortably use conventional financing. The median home price of $122,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 61531 are set at the county level.
2026 Loan Limits — Knox County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 61531
To purchase the median home at $122,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,089.
Monthly Payment
$1,089
Income Required
$46,653
Principal & Interest
$755/mo
Down Payment (5%)
$6,125
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 61531.
Estimated Monthly Payment
$908
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 61531. Tell us what you're looking for.