Commercial Real Estate Market in Homer, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 47 off-market properties in Homer, IL.
Market Trends
Homer, IL spans 58.2 square miles in Champaign County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Homer, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Homer, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Homer, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Homer, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 82.4%
- Commercial 10%
- Industrial 7.7%
Largest Zones share of zoned land by district
Residential District
Commercial District
Industrial District
Homer, IL zones 640 acres across 3 districts. Commercial zoning covers 10% of zoned land, residential 82.4% and industrial 7.7%. The largest single district is Residential District at 82.4%. For commercial buyers the practical constraint is that only 17.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Homer, IL has 1,715 residents in 813 households. Density runs 29 people per square mile. Median household income here is $95,000 and median gross rent $956 a month.
1,715
Population
813
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
96%
High-School Grad
58.2 sq mi
ZIP Area
29
Density / Sq Mi
$95,000
Median Household Income
$43,446
Median Earnings
$956
Median Rent
$156,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ogden | — | — |
| Sidney | — | — |
| Fairmount | — | — |
| Saint Joseph | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Homer?
Homer, IL zones 640 acres across 3 districts, of which 10% is commercial and 7.7% industrial. The largest single district is Residential District at 82.4% of zoned land. Residential zoning covers 82.4% and open space 0%.
Where does Realmo's Homer market data come from?
Realmo compiles Homer, IL figures from 2 recent recorded sales, 2 active sale listings, 1 active lease listings, 47 tracked off-market properties, the current Homer zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 1 active for-lease listings in Homer, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 640 zoned acres across 3 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
