Carthage, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Carthage, IL Real Estate Data


Carthage Housing Market Information

With 2,545 people, 1,129 houses or apartments, and a median cost of homes of $104,843, house prices in Carthage are solidly below the national average.

Single-family detached homes are the single most common housing type in Carthage, accounting for 75.31% of the city's housing units. Other types of housing that are prevalent in Carthage include duplexes, homes converted to apartments or other small apartment buildings ( 12.46%), large apartment complexes or high rise apartments ( 10.15%), and a few mobile homes or trailers ( 2.08%).

The most prevalent building size and type in Carthage are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.38% owning and 35.62% renting.

The housing in Carthage was primarily built before 1939 ( 34.31%), making the housing stock in Carthage some of the oldest overall in America, although there is a range of ages of homes in Carthage. The next most important housing age is between 1970-1999 ( 30.00%), followed by between 1940-1969 ( 29.54%). There's also some housing in Carthage built between 2000 and later ( 6.15%).

Vacant housing appears to be an issue in Carthage. Fully 13.15% of the housing stock is classified as vacant. Left unchecked, vacant Carthage homes and apartments can be a drag on the real estate market, holding Carthage 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.

Carthage Home Appreciation Rates

Appreciation rates for homes in Carthage have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.09%, which ranks in the top 30% nationwide. This equates to an annual average Carthage house appreciation rate of 1.59%.

NeighborhoodScout's data show that during the latest twelve months, Carthage's appreciation rate, at 5.32%, has been at or slightly above the national average. In the latest quarter, Carthage's appreciation rate has been -0.08%, which annualizes to a rate of -0.30%.

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

Relative to Illinois, our data show that Carthage's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$104,843

Carthage, IL HOME PRICES

Value Range
> $1,104,000 0.0
$828,001 - $1,104,000 0.5
$552,001 - $828,000 1.4
$441,001 - $552,000 0.0
$331,001 - $441,000 4.1
$221,001 - $331,000 2.0
$110,001 - $221,000 34.4
$55,001 - $110,000 50.2
$0 - $55,000 7.4

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
75.7363705568894 70.0

Number Of Homes And Apartments:
1,129

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 64.38
Renters 35.62
Vacant 13.15

Housing Market Details

 

Age of Homes

AGE OF Carthage HOMES
2000 or Newer 6.2
1970 - 1999 30.0
1940 - 1969 29.5
1939 or Older 34.3

Types of Homes

TYPE OF Carthage HOMES
Single-Family 75.3
Townhomes 0.0
Small Apt. Buildings 12.5
Apt. Complexes 10.2
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Carthage HOMES
No Bedroom 5.08
1 Bedroom 10.38
2 Bedrooms 28.54
3 Bedrooms 42.31
4 Bedrooms 11.08
5 or more bedrooms 2.62

Carthage Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
44.21% 2.18% 9 5
* 10 is highest