Crete, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Crete, 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

Crete Housing Market Information

With 8,191 people, 3,103 houses or apartments, and a median cost of homes of $165,511, Crete real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Crete, accounting for 81.00% of the village's housing units. Other types of housing that are prevalent in Crete include large apartment complexes or high rise apartments ( 9.15%), duplexes, homes converted to apartments or other small apartment buildings ( 5.10%), and a few row houses and other attached homes ( 2.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Crete. Owner-occupied housing accounts for 80.74% of Crete's homes, and 72.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Crete built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Crete built between 1940-1969 ( 24.13%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.71%). There's also some housing in Crete built before 1939 ( 13.55%).

Crete Home Appreciation Rates

Homes have actually lost value in Crete over the last then years, as home values have seen a decline of 28.32% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Crete home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Crete appreciation rates have trailed the rest of the nation. In the last twelve months, Crete's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Crete were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Crete differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Crete - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Crete real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$165,511

Crete, IL HOME PRICES

Value Range
> $1,074,000 0.3
$806,001 - $1,074,000 0.0
$537,001 - $806,000 0.6
$430,001 - $537,000 1.6
$322,001 - $430,000 3.3
$215,001 - $322,000 18.0
$107,001 - $215,000 56.0
$54,001 - $107,000 12.6
$0 - $54,000 7.8

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
43.431384038439 34.9367088607595

Number Of Homes And Apartments:
3,103

Crete 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
-6.45% -0.39% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,370 / per month

Homeownership Rate

Homeownership
Owners 80.74
Renters 19.26
Vacant 9.00

Housing Market Details

 

Age of Homes

AGE OF Crete HOMES
2000 or Newer 17.7
1970 - 1999 44.6
1940 - 1969 24.1
1939 or Older 13.5

Types of Homes

TYPE OF Crete HOMES
Single-Family 81.0
Townhomes 2.4
Small Apt. Buildings 5.1
Apt. Complexes 9.1
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Crete HOMES
No Bedroom 1.99
1 Bedroom 3.84
2 Bedrooms 15.48
3 Bedrooms 43.70
4 Bedrooms 28.80
5 or more bedrooms 6.19