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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 25,169, 9,193 total housing units (homes and apartments), and a median house value of $189,158, 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 67.41% 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 ( 10.60%), mobile homes or trailers ( 8.53%), and a few large apartment complexes or high rise apartments ( 7.97%).

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 72.76% of Belvidere's homes, and 58.47% 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 before 1939 ( 23.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.43%). There's also some housing in Belvidere built between 1940-1969 ( 20.82%).

Belvidere Home Appreciation Rates

Real estate appreciation rates in Belvidere's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.41% during the period.

NeighborhoodScout's data show that during the latest twelve months, Belvidere's appreciation rate, at 4.79%, has been at or slightly above the national average. In the latest quarter, Belvidere's appreciation rate has been 8.27%, which annualizes to a rate of 37.39%.

Importantly, NeighborhoodScout’s exclusive research found that Belvidere's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Illinois, our data show that Belvidere's latest annual appreciation rate is higher than 70% 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 Belvidere differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belvidere - 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 Belvidere real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$189,158

Belvidere, IL Home Prices
> $1,386,000
$1,040,001 - $1,386,000
$693,001 - $1,040,000
$554,001 - $693,000
$416,001 - $554,000
$277,001 - $416,000
$138,001 - $277,000
$69,001 - $138,000
$0 - $69,000
0.1%
0.1%
0.2%
0.2%
0.5%
0.5%
0.2%
0.2%
2.4%
2.4%
11.7%
11.7%
49.8%
49.8%
27.1%
27.1%
7.9%
7.9%
0% 100.0%
% of Homes
Average

for Illinois

Low

for nation

Number of Homes And Apartments:

9,193

Belvidere Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,743 / per month

Homeownership Rate

Owners
Renters
Vacant
72.8%
72.8%
27.2%
27.2%
5.3%
5.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.4%
21.4%
34.5%
34.5%
20.8%
20.8%
23.2%
23.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.4%
67.4%
5.5%
5.5%
10.6%
10.6%
8.0%
8.0%
8.5%
8.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
7.6%
7.6%
28.4%
28.4%
45.3%
45.3%
13.1%
13.1%
3.5%
3.5%
0% 100.0%
% of Homes