Belleville, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Belleville Neighborhoods Since 2000




Belleville, IL 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

Belleville Housing Market Information

With a population of 42,034, 17,609 total housing units (homes and apartments), and a median house value of $102,464, house prices in Belleville are solidly below the national average.

Single-family detached homes are the single most common housing type in Belleville, accounting for 67.45% of the city's housing units. Other types of housing that are prevalent in Belleville include large apartment complexes or high rise apartments ( 14.88%), duplexes, homes converted to apartments or other small apartment buildings ( 11.47%), and a few row houses and other attached homes ( 4.12%).

The most prevalent building size and type in Belleville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.53% owning and 41.47% renting.

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. Belleville's housing was primarily built during this period, from the '40s through the '60s. A full 40.26% of the city's housing hails from this era. Other housing ages represented in Belleville include homes built before 1939 ( 26.49%) and housing constructed between 1970-1999 ( 22.19%). There's also some housing in Belleville built between 2000 and later ( 11.07%).

Vacant housing appears to be an issue in Belleville. Fully 15.76% of the housing stock is classified as vacant. Left unchecked, vacant Belleville homes and apartments can be a drag on the real estate market, holding Belleville 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.

Belleville Home Appreciation Rates

Belleville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Belleville during the period has been just -1.20%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Belleville's appreciation rate, at 3.45%, has been at or slightly above the national average. In the latest quarter, Belleville's appreciation rate has been 1.03%, which annualizes to a rate of 4.19%.

Relative to Illinois, our data show that Belleville's latest annual appreciation rate is higher than 60% 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 Belleville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belleville - 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 2000, to assist you in making the best Belleville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$102,464

Belleville, IL HOME PRICES

Value Range
> $1,049,000 0.3
$787,001 - $1,049,000 0.1
$525,001 - $787,000 0.3
$420,001 - $525,000 0.2
$315,001 - $420,000 1.7
$210,001 - $315,000 8.0
$105,001 - $210,000 37.1
$53,001 - $105,000 42.5
$0 - $53,000 9.8

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
75.9873432555959 69.2405063291139

Number Of Homes And Apartments:
17,609

Belleville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
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
15.59% 0.84% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$934 / per month

Homeownership Rate

Homeownership
Owners 58.53
Renters 41.47
Vacant 15.76

Housing Market Details

 

Age of Homes

AGE OF Belleville HOMES
2000 or Newer 11.1
1970 - 1999 22.2
1940 - 1969 40.3
1939 or Older 26.5

Types of Homes

TYPE OF Belleville HOMES
Single-Family 67.4
Townhomes 4.1
Small Apt. Buildings 11.5
Apt. Complexes 14.9
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Belleville HOMES
No Bedroom 2.22
1 Bedroom 14.97
2 Bedrooms 31.05
3 Bedrooms 36.33
4 Bedrooms 13.25
5 or more bedrooms 2.19