Golconda, IL Real Estate Market

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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Golconda, IL Housing Market Trends

With a population of 631, 345 total housing units (homes and apartments), and a median house value of $119,104, house prices in Golconda are solidly below the national average.

Single-family detached homes are the single most common housing type in Golconda, accounting for 66.08% of the city's housing units. Other types of housing that are prevalent in Golconda include duplexes, homes converted to apartments or other small apartment buildings ( 23.13%), large apartment complexes or high rise apartments ( 5.73%), and a few mobile homes or trailers ( 4.41%).

People in Golconda primarily live in small (one, two or no bedroom) single-family detached homes. Golconda has a mixture of owner-occupied and renter-occupied housing.

The housing in Golconda was primarily built before 1939 ( 38.33%), making the housing stock in Golconda some of the oldest overall in America, although there is a range of ages of homes in Golconda. The next most important housing age is between 1940-1969 ( 29.52%), followed by between 1970-1999 ( 26.43%). There's also some housing in Golconda built between 2000 and later ( 5.73%).

Vacant housing appears to be an issue in Golconda. Fully 24.01% of the housing stock is classified as vacant. Left unchecked, vacant Golconda homes and apartments can be a drag on the real estate market, holding Golconda 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.

Golconda Home Appreciation Rates

Appreciation rates for homes in Golconda have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.17%, which ranks in the top 50% nationwide. This equates to an annual average Golconda house appreciation rate of 2.91%.

Over the last year, Golconda appreciation rates have trailed the rest of the nation. In the last twelve months, Golconda's appreciation rate has been 4.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Golconda were at 1.51%, which equates to an annual appreciation rate of 6.19%.

Notably, Golconda's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Golconda's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$119,104

Golconda, IL HOME PRICES

> $1,182,000
0.0%
0.0%
$886,001 - $1,182,000
0.0%
0.0%
$591,001 - $886,000
0.0%
0.0%
$473,001 - $591,000
0.0%
0.0%
$355,001 - $473,000
1.8%
1.8%
$236,001 - $355,000
16.7%
16.7%
$118,001 - $236,000
31.1%
31.1%
$60,001 - $118,000
25.7%
25.7%
$0 - $60,000
24.7%
24.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for IL

Value Relative To Nation

Number Of Homes And Apartments:
345

Golconda Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
93.90% 3.20%
10
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$361 / per month

Homeownership Rate

Owners
45.1%
45.1%
Renters
54.9%
54.9%
Vacant
24.0%
24.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.7%
5.7%
1970 - 1999
26.4%
26.4%
1940 - 1969
29.5%
29.5%
1939 or Older
38.3%
38.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.1%
66.1%
Townhomes
0.7%
0.7%
Small Apt. Buildings
23.1%
23.1%
Apt. Complexes
5.7%
5.7%
Mobile Homes
4.4%
4.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
13.4%
13.4%
1 Bedroom
10.4%
10.4%
2 Bedrooms
35.5%
35.5%
3 Bedrooms
30.4%
30.4%
4 Bedrooms
9.7%
9.7%
5 or more bedrooms
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Golconda

Popular Communities Near Golconda, IL

Zip Codes in Golconda, IL