Centreville, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Centreville Neighborhoods Since 2000




Centreville, IL Real Estate Data


Centreville Housing Market Information

With a population of 5,027, 2,109 total housing units (homes and apartments), and a median house value of $66,004, house prices in Centreville 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 Centreville, accounting for 59.21% of the city's housing units. Other types of housing that are prevalent in Centreville include large apartment complexes or high rise apartments ( 17.77%), duplexes, homes converted to apartments or other small apartment buildings ( 16.27%), and a few mobile homes or trailers ( 6.37%).

The most prevalent building size and type in Centreville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.00% owning and 56.00% 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. Centreville's housing was primarily built during this period, from the '40s through the '60s. A full 48.37% of the city's housing hails from this era. Other housing ages represented in Centreville include homes built between 1970-1999 ( 24.56%) and housing constructed before 1939 ( 13.76%). There's also some housing in Centreville built between 2000 and later ( 13.31%).

Vacant housing appears to be an issue in Centreville. Fully 20.92% of the housing stock is classified as vacant. Left unchecked, vacant Centreville homes and apartments can be a drag on the real estate market, holding Centreville 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.

Centreville Home Appreciation Rates

Centreville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Centreville during the period has been just -0.85%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Centreville's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Centreville's appreciation rate has been 1.28%, which annualizes to a rate of 5.23%.

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

Average Home Values

 

Median Home Value:
$66,004

Centreville, IL HOME PRICES

Value Range
> $1,093,000 0.0
$819,001 - $1,093,000 0.0
$547,001 - $819,000 0.5
$437,001 - $547,000 0.0
$328,001 - $437,000 0.0
$219,001 - $328,000 2.7
$109,001 - $219,000 11.7
$55,001 - $109,000 37.5
$0 - $55,000 47.5

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.9081220354863 96.4556962025316

Number Of Homes And Apartments:
2,109

Rent & Ownership

 

Average Market Rent:
$722 / per month

Homeownership Rate

Homeownership
Owners 44.00
Renters 56.00
Vacant 20.92

Housing Market Details

 

Age of Homes

AGE OF Centreville HOMES
2000 or Newer 13.3
1970 - 1999 24.6
1940 - 1969 48.4
1939 or Older 13.8

Types of Homes

TYPE OF Centreville HOMES
Single-Family 59.2
Townhomes 0.4
Small Apt. Buildings 16.3
Apt. Complexes 17.8
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Centreville HOMES
No Bedroom 1.91
1 Bedroom 11.74
2 Bedrooms 33.41
3 Bedrooms 42.14
4 Bedrooms 9.67
5 or more bedrooms 1.12

Centreville 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
25.97% 1.37% 5 3
* 10 is highest