Cresco, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cresco, IA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cresco Housing Market Information

With a population of 3,833, 1,576 total housing units (homes and apartments), and a median house value of $110,700, house prices in Cresco are solidly below the national average.

Single-family detached homes are the single most common housing type in Cresco, accounting for 76.17% of the city's housing units. Other types of housing that are prevalent in Cresco include duplexes, homes converted to apartments or other small apartment buildings ( 11.58%), large apartment complexes or high rise apartments ( 6.66%), and a few mobile homes or trailers ( 3.78%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cresco. Owner-occupied housing accounts for 68.42% of Cresco's homes, and 51.50% have either three or four bedrooms, which is average sized relative to America.

The housing in Cresco was primarily built before 1939 ( 39.98%), making the housing stock in Cresco some of the oldest overall in America, although there is a range of ages of homes in Cresco. The next most important housing age is between 1940-1969 ( 27.44%), followed by between 1970-1999 ( 25.30%). There's also some housing in Cresco built between 2000 and later ( 7.28%).

Vacant housing appears to be an issue in Cresco. Fully 11.01% of the housing stock is classified as vacant. Left unchecked, vacant Cresco homes and apartments can be a drag on the real estate market, holding Cresco real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cresco Home Appreciation Rates

Appreciation rates for homes in Cresco have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.13%, which ranks in the top 30% nationwide. This equates to an annual average Cresco house appreciation rate of 0.97%.

Over the last year, Cresco appreciation rates have trailed the rest of the nation. In the last twelve months, Cresco's appreciation rate has been 1.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cresco were at 0.99%, which equates to an annual appreciation rate of 4.00%.

Relative to Iowa, our data show that Cresco's latest annual appreciation rate is lower than 80% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$110,700

Cresco, IA HOME PRICES

Value Range
> $1,057,000 0.0
$792,001 - $1,057,000 0.0
$528,001 - $792,000 0.0
$423,001 - $528,000 3.9
$317,001 - $423,000 0.0
$212,001 - $317,000 11.0
$106,001 - $212,000 29.5
$53,001 - $106,000 39.0
$0 - $53,000 16.6

Low for IA
Low for Nation

Value Relative to Nation Value Relative to State
70.9480839095277 63.9506172839506

Number Of Homes And Apartments:
1,576

Cresco Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.48% 1.51% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$759 / per month

Homeownership Rate

Homeownership
Owners 68.42
Renters 31.58
Vacant 11.01

Housing Market Details

 

Age of Homes

AGE OF Cresco HOMES
2000 or Newer 7.3
1970 - 1999 25.3
1940 - 1969 27.4
1939 or Older 40.0

Types of Homes

TYPE OF Cresco HOMES
Single-Family 76.2
Townhomes 1.8
Small Apt. Buildings 11.6
Apt. Complexes 6.7
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Cresco HOMES
No Bedroom 1.47
1 Bedroom 9.09
2 Bedrooms 33.43
3 Bedrooms 38.06
4 Bedrooms 13.44
5 or more bedrooms 4.52

Popular Neighborhoods in Cresco

Popular Communities Near Cresco, IA

Zip Codes in Cresco, IA