Belvidere, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Belvidere Neighborhoods Since 2000




Belvidere, 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

Belvidere Housing Market Information

With 25,132 people, 8,862 houses or apartments, and a median cost of homes of $114,485, house prices in Belvidere are solidly below the national average.

Single-family detached homes are the single most common housing type in Belvidere, accounting for 70.43% of the city's housing units. Other types of housing that are prevalent in Belvidere include mobile homes or trailers ( 9.41%), large apartment complexes or high rise apartments ( 9.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belvidere. Owner-occupied housing accounts for 71.56% of Belvidere's homes, and 63.11% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Belvidere built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Belvidere built between 1940-1969 ( 24.19%). A lesser amount of the housing stock also hails from before 1939 ( 24.02%). There's also some housing in Belvidere built between 2000 and later ( 17.17%).

Vacant housing appears to be an issue in Belvidere. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Belvidere homes and apartments can be a drag on the real estate market, holding Belvidere 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.

Belvidere Home Appreciation Rates

Homes have actually lost value in Belvidere over the last then years, as home values have seen a decline of 32.48% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Belvidere home appreciation rates at -1.84%, which equates to an annual appreciation rate of -7.16%.

Appreciation rates are so strong in Belvidere that despite a nationwide downturn in the housing market, Belvidere real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belvidere appreciation rates continue to be some of the highest in America, at 5.84%, which is higher than appreciation rates in 72.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belvidere. Belvidere appreciation rates in the latest quarter were at -1.84%, which equates to an annual appreciation rate of -7.16%.

Notably, Belvidere's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Belvidere's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$114,485

Belvidere, IL HOME PRICES

Value Range
> $1,023,000 0.8
$767,001 - $1,023,000 0.5
$512,001 - $767,000 0.4
$409,001 - $512,000 0.5
$307,001 - $409,000 1.4
$204,001 - $307,000 5.2
$102,001 - $204,000 46.4
$51,001 - $102,000 34.8
$0 - $51,000 10.1

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
68.6042423532169 61.1392405063291

Number Of Homes And Apartments:
8,862

Belvidere 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
-10.80% -0.66% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$737 / per month

Homeownership Rate

Homeownership
Owners 71.56
Renters 28.44
Vacant 10.15

Housing Market Details

 

Age of Homes

AGE OF Belvidere HOMES
2000 or Newer 17.2
1970 - 1999 34.6
1940 - 1969 24.2
1939 or Older 24.0

Types of Homes

TYPE OF Belvidere HOMES
Single-Family 70.4
Townhomes 2.6
Small Apt. Buildings 8.2
Apt. Complexes 9.4
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF Belvidere HOMES
No Bedroom 2.26
1 Bedroom 7.35
2 Bedrooms 24.04
3 Bedrooms 45.72
4 Bedrooms 17.40
5 or more bedrooms 3.23