Decatur, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Decatur Neighborhoods Since 2000






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 Q4 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Decatur Housing Market Information

With 72,706 people, 31,248 houses or apartments, and a median cost of homes of $68,832, 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 73.35% of the city's housing units. Other types of housing that are prevalent in Decatur include large apartment complexes or high rise apartments ( 16.45%), duplexes, homes converted to apartments or other small apartment buildings ( 5.89%), and a few mobile homes or trailers ( 2.75%).

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 58.76% owning and 41.24% 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 43.53% of the city's housing hails from this era. Other housing ages represented in Decatur include homes built between 1970-1999 ( 27.82%) and housing constructed before 1939 ( 22.64%). There's also some housing in Decatur built between 2000 and later ( 6.02%).

Vacant housing appears to be an issue in Decatur. Fully 12.62% 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

Decatur's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Decatur during the period has been just -0.74%, which is lower than 70% of US communities.

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 2.60%, 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 2.92%, which equates to an annual appreciation rate of 12.19%.

Importantly, NeighborhoodScout’s exclusive research found that Decatur's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Illinois, our data show that Decatur's latest annual appreciation rate is higher 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:
$68,832

Decatur, IL HOME PRICES

Value Range
> $1,024,000 0.0
$768,001 - $1,024,000 0.2
$512,001 - $768,000 0.6
$409,001 - $512,000 0.5
$307,001 - $409,000 1.4
$205,001 - $307,000 4.3
$102,001 - $205,000 25.7
$51,001 - $102,000 35.0
$0 - $51,000 32.2

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.2770005268396 95.1898734177215

Number Of Homes And Apartments:
31,248

Decatur Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2017 Q3 - 2017 Q4
Last 12 Months:
2016 Q4 - 2017 Q4
Last 2 Years:
2015 Q4 - 2017 Q4
Last 5 Years:
2012 Q4 - 2017 Q4
Last 10 Years:
2007 Q4 - 2017 Q4
Since 2000:
2000 Q1 - 2017 Q4
9.88% 0.52%
2
1
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$893 / per month

Homeownership Rate

Homeownership
Owners 58.76
Renters 41.24
Vacant 12.62

Housing Market Details

 

Age of Homes

AGE OF Decatur HOMES
2000 or Newer 6.0
1970 - 1999 27.8
1940 - 1969 43.5
1939 or Older 22.6

Types of Homes

TYPE OF Decatur HOMES
Single-Family 73.3
Townhomes 1.5
Small Apt. Buildings 5.9
Apt. Complexes 16.5
Mobile Homes 2.8
Other 0.1

Home Size

SIZE OF Decatur HOMES
No Bedroom 1.25
1 Bedroom 14.03
2 Bedrooms 33.09
3 Bedrooms 37.16
4 Bedrooms 11.69
5 or more bedrooms 2.79