Benton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Benton Neighborhoods Since 2000




Benton, IL Real Estate Data


Benton Housing Market Information

With a population of 7,041, 2,917 total housing units (homes and apartments), and a median house value of $73,622, 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 18.96% over the last ten years, which is an average annual home appreciation rate of 1.75%, 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 3.20%, 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 0.78%, which equates to an annual appreciation rate of 3.14%.

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:
$73,622

Benton, IL HOME PRICES

Value Range
> $1,069,000 0.1
$802,001 - $1,069,000 0.3
$535,001 - $802,000 0.9
$428,001 - $535,000 0.2
$321,001 - $428,000 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
93.695066213524 93.2911392405063

Number Of Homes And Apartments:
2,917

Rent & Ownership

 

Average Market Rent:
$810 / 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

Benton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
44.85% 2.17% 9 5
* 10 is highest