Benton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Benton Neighborhoods Since 2000




Benton, 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

Benton Housing Market Information

With a population of 7,041, 2,917 total housing units (homes and apartments), and a median house value of $73,663, house prices in Benton are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Benton, accounting for 78.45% of the city's housing units. Other types of housing that are prevalent in Benton include duplexes, homes converted to apartments or other small apartment buildings ( 11.27%), large apartment complexes or high rise apartments ( 7.33%), and a few mobile homes or trailers ( 2.45%).

People in Benton primarily live in small (one, two or no bedroom) single-family detached homes. Benton has a mixture of owner-occupied and renter-occupied housing.

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. Benton's housing was primarily built during this period, from the '40s through the '60s. A full 41.82% of the city's housing hails from this era. Other housing ages represented in Benton include homes built between 1970-1999 ( 29.37%) and housing constructed before 1939 ( 21.36%). There's also some housing in Benton built between 2000 and later ( 7.45%).

Benton Home Appreciation Rates

In the last 10 years, Benton has experienced some of the highest home appreciation rates of any community in the nation. Benton real estate appreciated 15.82% over the last ten years, which is an average annual home appreciation rate of 1.48%, putting Benton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Benton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Benton appreciation rates have trailed the rest of the nation. In the last twelve months, Benton's appreciation rate has been 2.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Benton were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$73,663

Benton, IL HOME PRICES

Value Range
> $1,071,000 0.1
$803,001 - $1,071,000 0.3
$536,001 - $803,000 0.9
$429,001 - $536,000 0.2
$321,001 - $429,000 1.4
$214,001 - $321,000 4.8
$107,001 - $214,000 20.7
$53,001 - $107,000 40.0
$0 - $53,000 31.6

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
93.7185046290871 93.1645569620253

Number Of Homes And Apartments:
2,917

Benton 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
45.01% 2.18% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$830 / per month

Homeownership Rate

Homeownership
Owners 60.07
Renters 39.93
Vacant 9.44

Housing Market Details

 

Age of Homes

AGE OF Benton HOMES
2000 or Newer 7.5
1970 - 1999 29.4
1940 - 1969 41.8
1939 or Older 21.4

Types of Homes

TYPE OF Benton HOMES
Single-Family 78.5
Townhomes 0.5
Small Apt. Buildings 11.3
Apt. Complexes 7.3
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Benton HOMES
No Bedroom 3.01
1 Bedroom 9.78
2 Bedrooms 36.45
3 Bedrooms 41.04
4 Bedrooms 7.64
5 or more bedrooms 2.08