Belvidere, IL Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Belvidere, IL Housing Market Trends

With a population of 25,143, 8,835 total housing units (homes and apartments), and a median house value of $150,901, 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 67.08% of the city's housing units. Other types of housing that are prevalent in Belvidere include duplexes, homes converted to apartments or other small apartment buildings ( 11.20%), large apartment complexes or high rise apartments ( 10.58%), and a few mobile homes or trailers ( 7.63%).

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 69.63% of Belvidere's homes, and 56.77% 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 2000 and later ( 23.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.03%). There's also some housing in Belvidere built before 1939 ( 21.31%).

Belvidere Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Belvidere, where house values have increased just 4.66%, which is annualized rate of 0.46%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Belvidere appreciation rates have trailed the rest of the nation. In the last twelve months, Belvidere's appreciation rate has been 3.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belvidere were at 2.75%, which equates to an annual appreciation rate of 11.48%.

Relative to Illinois, our data show that Belvidere's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$150,901

Belvidere, IL HOME PRICES

> $1,132,000
0.1%
0.1%
$849,001 - $1,132,000
0.7%
0.7%
$566,001 - $849,000
0.5%
0.5%
$452,001 - $566,000
0.5%
0.5%
$339,001 - $452,000
1.7%
1.7%
$226,001 - $339,000
9.0%
9.0%
$113,001 - $226,000
46.3%
46.3%
$57,001 - $113,000
34.4%
34.4%
$0 - $57,000
6.9%
6.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for IL

Value Relative To Nation

Number Of Homes And Apartments:
8,835

Belvidere Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
7.46% 0.34%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$940 / per month

Homeownership Rate

Owners
69.6%
69.6%
Renters
30.4%
30.4%
Vacant
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.1%
23.1%
1970 - 1999
32.5%
32.5%
1940 - 1969
23.0%
23.0%
1939 or Older
21.3%
21.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.1%
67.1%
Townhomes
3.5%
3.5%
Small Apt. Buildings
11.2%
11.2%
Apt. Complexes
10.6%
10.6%
Mobile Homes
7.6%
7.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.8%
3.8%
1 Bedroom
8.4%
8.4%
2 Bedrooms
27.8%
27.8%
3 Bedrooms
43.5%
43.5%
4 Bedrooms
13.3%
13.3%
5 or more bedrooms
3.2%
3.2%
0.0% 100.0%
% OF HOMES