Centralia, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Centralia Neighborhoods Since 2000




Centralia, 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

Centralia Housing Market Information

With 12,655 people, 5,490 houses or apartments, and a median cost of homes of $50,873, house prices in Centralia 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 Centralia, accounting for 77.23% of the city's housing units. Other types of housing that are prevalent in Centralia include large apartment complexes or high rise apartments ( 9.21%), mobile homes or trailers ( 6.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.14%).

The most prevalent building size and type in Centralia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.20% owning and 36.80% renting.

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. Centralia's housing was primarily built during this period, from the '40s through the '60s. A full 36.47% of the city's housing hails from this era. Other housing ages represented in Centralia include homes built between 1970-1999 ( 30.25%) and housing constructed before 1939 ( 24.87%). There's also some housing in Centralia built between 2000 and later ( 8.41%).

Vacant housing appears to be an issue in Centralia. Fully 16.54% of the housing stock is classified as vacant. Left unchecked, vacant Centralia homes and apartments can be a drag on the real estate market, holding Centralia 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.

Centralia Home Appreciation Rates

Real estate appreciation rates in Centralia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.26% during the period.

Over the last year, Centralia appreciation rates have trailed the rest of the nation. In the last twelve months, Centralia's appreciation rate has been -0.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Centralia were at 0.21%, which equates to an annual appreciation rate of 0.83%.

Relative to Illinois, our data show that Centralia's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$50,873

Centralia, IL HOME PRICES

Value Range
> $1,009,000 0.1
$757,001 - $1,009,000 0.2
$505,001 - $757,000 0.4
$404,001 - $505,000 0.8
$303,001 - $404,000 0.3
$202,001 - $303,000 3.0
$101,001 - $202,000 15.8
$51,001 - $101,000 38.7
$0 - $51,000 40.7

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
99.2734091175437 99.1139240506329

Number Of Homes And Apartments:
5,490

Centralia 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
19.44% 1.04% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$871 / per month

Homeownership Rate

Homeownership
Owners 63.20
Renters 36.80
Vacant 16.54

Housing Market Details

 

Age of Homes

AGE OF Centralia HOMES
2000 or Newer 8.4
1970 - 1999 30.3
1940 - 1969 36.5
1939 or Older 24.9

Types of Homes

TYPE OF Centralia HOMES
Single-Family 77.2
Townhomes 0.7
Small Apt. Buildings 6.1
Apt. Complexes 9.2
Mobile Homes 6.6
Other 0.1

Home Size

SIZE OF Centralia HOMES
No Bedroom 2.28
1 Bedroom 10.09
2 Bedrooms 35.76
3 Bedrooms 36.94
4 Bedrooms 12.27
5 or more bedrooms 2.66