Effingham, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Effingham Neighborhoods Since 2000




Effingham, 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

Effingham Housing Market Information

With 12,604 people, 5,278 houses or apartments, and a median cost of homes of $141,013, Effingham 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 Effingham, accounting for 69.14% of the city's housing units. Other types of housing that are prevalent in Effingham include large apartment complexes or high rise apartments ( 16.02%), duplexes, homes converted to apartments or other small apartment buildings ( 7.65%), and a few mobile homes or trailers ( 4.81%).

The most prevalent building size and type in Effingham are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.82% owning and 36.18% renting.

There is a lot of housing in Effingham 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 Effingham built between 1940-1969 ( 33.65%). A lesser amount of the housing stock also hails from before 1939 ( 12.88%). There's also some housing in Effingham built between 2000 and later ( 7.70%).

Effingham Home Appreciation Rates

In the last 10 years, Effingham has experienced some of the highest home appreciation rates of any community in the nation. Effingham real estate appreciated 15.21% over the last ten years, which is an average annual home appreciation rate of 1.43%, putting Effingham in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Effingham definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Effingham appreciation rates have trailed the rest of the nation. In the last twelve months, Effingham's appreciation rate has been 2.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Effingham were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$141,013

Effingham, IL HOME PRICES

Value Range
> $1,074,000 0.0
$805,001 - $1,074,000 0.0
$537,001 - $805,000 0.0
$430,001 - $537,000 0.9
$322,001 - $430,000 3.4
$215,001 - $322,000 11.1
$108,001 - $215,000 47.0
$54,001 - $108,000 29.2
$0 - $54,000 8.4

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
54.2892300480488 45.1898734177215

Number Of Homes And Apartments:
5,278

Effingham 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
35.26% 1.77% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$743 / per month

Homeownership Rate

Homeownership
Owners 63.82
Renters 36.18
Vacant 7.40

Housing Market Details

 

Age of Homes

AGE OF Effingham HOMES
2000 or Newer 7.7
1970 - 1999 45.8
1940 - 1969 33.6
1939 or Older 12.9

Types of Homes

TYPE OF Effingham HOMES
Single-Family 69.1
Townhomes 2.4
Small Apt. Buildings 7.6
Apt. Complexes 16.0
Mobile Homes 4.8
Other 0.0

Home Size

SIZE OF Effingham HOMES
No Bedroom 3.44
1 Bedroom 11.04
2 Bedrooms 30.18
3 Bedrooms 38.28
4 Bedrooms 13.04
5 or more bedrooms 4.04