Decatur, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Decatur, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Decatur Housing Market Information

With a population of 72,174, 31,028 total housing units (homes and apartments), and a median house value of $72,408, house prices in Decatur 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 Decatur, accounting for 73.78% of the city's housing units. Other types of housing that are prevalent in Decatur include large apartment complexes or high rise apartments ( 15.92%), duplexes, homes converted to apartments or other small apartment buildings ( 5.92%), and a few mobile homes or trailers ( 2.67%).

The most prevalent building size and type in Decatur are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.22% owning and 39.78% 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. Decatur's housing was primarily built during this period, from the '40s through the '60s. A full 44.83% of the city's housing hails from this era. Other housing ages represented in Decatur include homes built between 1970-1999 ( 27.64%) and housing constructed before 1939 ( 22.03%). There's also some housing in Decatur built between 2000 and later ( 5.50%).

Vacant housing appears to be an issue in Decatur. Fully 14.22% of the housing stock is classified as vacant. Left unchecked, vacant Decatur homes and apartments can be a drag on the real estate market, holding Decatur 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.

Decatur Home Appreciation Rates

Homes have actually lost value in Decatur over the last then years, as home values have seen a decline of 11.59% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Decatur home appreciation rates at -0.06%, which equates to an annual appreciation rate of -0.24%.

Over the last year, Decatur appreciation rates have trailed the rest of the nation. In the last twelve months, Decatur's appreciation rate has been 1.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Decatur were at -0.06%, which equates to an annual appreciation rate of -0.24%.

Relative to Illinois, our data show that Decatur'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 city. Individual neighborhoods within Decatur differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Decatur - 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 Decatur real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$72,408

Decatur, IL HOME PRICES

Value Range
> $972,000 0.3
$729,001 - $972,000 0.2
$486,001 - $729,000 0.6
$389,001 - $486,000 0.4
$291,001 - $389,000 1.6
$195,001 - $291,000 4.2
$97,001 - $195,000 29.5
$49,001 - $97,000 39.0
$0 - $49,000 24.1

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
95.6905109489051 94.8101265822785

Number Of Homes And Apartments:
31,028

Decatur Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
3.75% 0.19%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$829 / per month

Homeownership Rate

Homeownership
Owners 60.22
Renters 39.78
Vacant 14.22

Housing Market Details

 

Age of Homes

AGE OF Decatur HOMES
2000 or Newer 5.5
1970 - 1999 27.6
1940 - 1969 44.8
1939 or Older 22.0

Types of Homes

TYPE OF Decatur HOMES
Single-Family 73.8
Townhomes 1.5
Small Apt. Buildings 5.9
Apt. Complexes 15.9
Mobile Homes 2.7
Other 0.2

Home Size

SIZE OF Decatur HOMES
No Bedroom 1.37
1 Bedroom 13.51
2 Bedrooms 33.33
3 Bedrooms 37.58
4 Bedrooms 11.28
5 or more bedrooms 2.93