Centralia, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Centralia Neighborhoods Since 2000




Centralia, IL Real Estate Data


Centralia Housing Market Information

With 12,655 people, 5,639 houses or apartments, and a median cost of homes of $69,470, 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 74.61% of the city's housing units. Other types of housing that are prevalent in Centralia include large apartment complexes or high rise apartments ( 10.30%), mobile homes or trailers ( 7.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.35%).

People in Centralia primarily live in small (one, two or no bedroom) single-family detached homes. Centralia 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. Centralia's housing was primarily built during this period, from the '40s through the '60s. A full 38.20% of the city's housing hails from this era. Other housing ages represented in Centralia include homes built between 1970-1999 ( 29.38%) and housing constructed before 1939 ( 24.99%). There's also some housing in Centralia built between 2000 and later ( 7.43%).

Vacant housing appears to be an issue in Centralia. Fully 15.72% 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

Appreciation rates for homes in Centralia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.76%, which ranks in the top 50% nationwide. This equates to an annual average Centralia house appreciation rate of 0.27%.

Appreciation rates are so strong in Centralia that despite a nationwide downturn in the housing market, Centralia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Centralia appreciation rates continue to be some of the highest in America, at 6.17%, which is higher than appreciation rates in 76.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Centralia. Centralia appreciation rates in the latest quarter were at 0.20%, which equates to an annual appreciation rate of 0.80%.

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

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

Average Home Values

 

Median Home Value:
$69,470

Centralia, IL HOME PRICES

Value Range
> $1,089,000 0.1
$817,001 - $1,089,000 0.1
$544,001 - $817,000 0.5
$436,001 - $544,000 0.4
$327,001 - $436,000 0.3
$218,001 - $327,000 2.5
$109,001 - $218,000 16.4
$54,001 - $109,000 37.7
$0 - $54,000 42.1

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
95.7779469461849 95.4430379746835

Number Of Homes And Apartments:
5,639

Rent & Ownership

 

Average Market Rent:
$896 / per month

Homeownership Rate

Homeownership
Owners 64.21
Renters 35.79
Vacant 15.72

Housing Market Details

 

Age of Homes

AGE OF Centralia HOMES
2000 or Newer 7.4
1970 - 1999 29.4
1940 - 1969 38.2
1939 or Older 25.0

Types of Homes

TYPE OF Centralia HOMES
Single-Family 74.6
Townhomes 1.1
Small Apt. Buildings 6.4
Apt. Complexes 10.3
Mobile Homes 7.6
Other 0.1

Home Size

SIZE OF Centralia HOMES
No Bedroom 2.82
1 Bedroom 9.21
2 Bedrooms 37.03
3 Bedrooms 36.96
4 Bedrooms 10.90
5 or more bedrooms 3.08

Centralia 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
25.03% 1.32% 5 2
* 10 is highest