Cherry Valley, IL housing market
Homes typically sell in 8 days, a little above asking.
Home values, sales, trends and how Cherry Valley compares with the towns next door — updated as new data is published.
Cherry Valley at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Home prices up 59% in 5 years
The federal house price index for the ZIP codes around Cherry Valley rose 59% over the past 5 years, faster than across Illinois (47%). Last year prices rose 4.3%. Carrying the Census median home value forward with that index puts the typical Cherry Valley home at roughly $396,000 today.
Show as a table
| Year | Change that year | Since 2000 | Illinois since 2000 |
|---|---|---|---|
| 2025 | +4.3% | +88% | +96% |
| 2024 | +6.7% | +80% | +85% |
| 2023 | +12% | +69% | +73% |
| 2022 | +13% | +51% | +61% |
| 2021 | +13% | +33% | +44% |
| 2020 | +2.5% | +18% | +33% |
| 2019 | +4.2% | +15% | +32% |
| 2018 | +5.8% | +10% | +28% |
| 2017 | +5.5% | +4.4% | +25% |
| 2016 | +2.3% | −1.1% | +22% |
| 2015 | −0.5% | −3.3% | +19% |
| 2014 | +0.1% | −2.8% | +15% |
| 2013 | −4.3% | −2.9% | +11% |
| 2012 | −6.4% | +1.5% | +11% |
| 2011 | −5.3% | +8.5% | +14% |
| 2010 | −6.4% | +15% | +21% |
| 2009 | −4% | +23% | +29% |
| 2008 | −2.8% | +28% | +40% |
| 2007 | +2.5% | +31% | +45% |
| 2006 | +4.8% | +28% | +43% |
| 2005 | +7.2% | +22% | +35% |
| 2004 | +7.7% | +14% | +24% |
| 2003 | +2% | +5.9% | +15% |
| 2002 | +1.8% | +3.8% | +11% |
| 2001 | +1.9% | +1.9% | +5.6% |
| 2000 | — | — | — |
How Cherry Valley ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 61016, 61109, 61108, 61112, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Cherry Valley and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Cherry Valley | — | +4.3%† | $1,100 | — | $74,655 |
| Rockford | — | +10.6%† | $1,170 | 124 | $54,752 |
| Belvidere | — | +10.5%† | $1,180 | 37 | $64,528 |
| Cherry Valley | $303K | +8.6% | $1,090 | — | $69,367 |
| Rockford | $187K | +9.8% | $1,160 | — | $55,922 |
† FHFA price index change, where Zillow has no home value for the town.
3.1 years of income
The typical Cherry Valley home costs about 3.1 years of the town's median household income, less than across Illinois (3.6 years).
How Cherry Valley ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,100
HUD's Fair Market Rent for a two-bedroom in Cherry Valley is $1,100 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Cherry Valley pay a median of $1,024. A two-bedroom takes about 18% of the town's median household income.
Studio $750 · 4 bedrooms $1,490
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (61016, 61108, 61109, 61112; Rockford, IL MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Cherry Valley
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.