Granite City appreciation rates and housing market information

Granite City housing market information

With 31,632 people, 14,130 houses or apartments, and a median cost of homes of $98,824,

single-family detached homes are the single most common housing type in Granite City, accounting for 73.50% of the city's housing units. Other types of housing that are prevalent in Granite City include duplexes, homes converted to apartments, or other small apartment buildings (11.08%), large apartment complexes or high rise apartments (10.93%), mobile homes or trailers (2.91%), and a few row houses and other attached homes (1.53%).

Dwellings in Granite City tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 52.20% of the homes in Granite City have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Granite City's housing was primarily built during this period, from the '40s through the '60s. A full 59.21% of the city's housing hails from this era. Other housing ages represented in Granite City include homes built between 1939 and earlier (25.46%), and housing constructed from 1970-1994 (13.57%). There's also some housing in Granite City built between 1995 and later (1.76%).

Granite City home appreciation rates

Granite City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Granite City during the period has been just 5.71%, which is lower than % of US communities.

Over the last year, Granite City appreciation rates have trailed the rest of the nation. In the last twelve months, Granite City's appreciation rate has been -1.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Granite City were at -0.08%, which equates to an annual appreciation rate of -0.32%.

Relative to Illinois, our data show that Granite City's latest annual appreciation rate is higher than 33% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Granite City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Granite City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Granite City real estate investment or home purchase decisions.