Rockford appreciation rates and housing market information

Rockford housing market information

With 149,704 people, 63,607 houses or apartments, and a median cost of homes of $128,232, house prices in Rockford are solidly below the national average.

single-family detached homes are the single most common housing type in Rockford, accounting for 60.31% of the city's housing units. Other types of housing that are prevalent in Rockford include duplexes, homes converted to apartments, or other small apartment buildings (19.23%), large apartment complexes or high rise apartments (16.79%), row houses and other attached homes (3.03%), and a few mobile homes or trailers (0.64%).

People in Rockford primarily live in small (one, two, or no bedroom) single-family detached homes. Rockford has a mixture of owner-occupied and renter-occupied housing.

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. Rockford's housing was primarily built during this period, from the '40s through the '60s. A full 47.63% of the city's housing hails from this era. Other housing ages represented in Rockford include homes built between 1970-1994 (24.95%), and housing constructed from 1939 and earlier (22.48%). There's also some housing in Rockford built between 1995 and later (4.94%).

Rockford home appreciation rates

Rockford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rockford during the period has been just 4.36%, which is lower than % of US communities.

Over the last year, Rockford appreciation rates have trailed the rest of the nation. In the last twelve months, Rockford's appreciation rate has been -1.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockford were at 0.33%, which equates to an annual appreciation rate of 1.32%.

Relative to Illinois, our data show that Rockford's latest annual appreciation rate is higher than 35% 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 Rockford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rockford - 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 Rockford real estate investment or home purchase decisions.