Freeport, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Freeport Neighborhoods Since 2000




Freeport, 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

Freeport Housing Market Information

With a population of 24,476, 10,501 total housing units (homes and apartments), and a median house value of $61,695, house prices in Freeport 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 Freeport, accounting for 61.61% of the city's housing units. Other types of housing that are prevalent in Freeport include duplexes, homes converted to apartments or other small apartment buildings ( 16.71%), large apartment complexes or high rise apartments ( 12.78%), and a few row houses and other attached homes ( 4.62%).

The most prevalent building size and type in Freeport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.06% owning and 40.94% renting.

The housing in Freeport was primarily built before 1939 ( 37.53%), making the housing stock in Freeport some of the oldest overall in America, although there is a range of ages of homes in Freeport. The next most important housing age is between 1940-1969 ( 30.43%), followed by between 1970-1999 ( 28.55%). There's also some housing in Freeport built between 2000 and later ( 3.49%).

Vacant housing appears to be an issue in Freeport. Fully 13.45% of the housing stock is classified as vacant. Left unchecked, vacant Freeport homes and apartments can be a drag on the real estate market, holding Freeport 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.

Freeport Home Appreciation Rates

Freeport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Freeport during the period has been just -1.70%, which is lower than 80% of US communities.

Over the last year, Freeport appreciation rates have trailed the rest of the nation. In the last twelve months, Freeport's appreciation rate has been 1.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Freeport were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Freeport's latest annual appreciation rate is lower than 80% 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 Freeport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Freeport - 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 Freeport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$61,695

Freeport, IL HOME PRICES

Value Range
> $974,000 0.0
$731,001 - $974,000 0.0
$487,001 - $731,000 0.4
$389,001 - $487,000 0.2
$292,001 - $389,000 0.6
$195,001 - $292,000 2.2
$97,001 - $195,000 23.2
$49,001 - $97,000 50.7
$0 - $49,000 22.7

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
97.6854564631431 97.5949367088608

Number Of Homes And Apartments:
10,501

Freeport 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
-5.15% -0.31% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$726 / per month

Homeownership Rate

Homeownership
Owners 59.06
Renters 40.94
Vacant 13.45

Housing Market Details

 

Age of Homes

AGE OF Freeport HOMES
2000 or Newer 3.5
1970 - 1999 28.6
1940 - 1969 30.4
1939 or Older 37.5

Types of Homes

TYPE OF Freeport HOMES
Single-Family 61.6
Townhomes 4.6
Small Apt. Buildings 16.7
Apt. Complexes 12.8
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Freeport HOMES
No Bedroom 1.62
1 Bedroom 13.47
2 Bedrooms 31.13
3 Bedrooms 39.56
4 Bedrooms 11.84
5 or more bedrooms 2.38