Granite City, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Granite City Neighborhoods Since 2000




Granite City, IL Real Estate Data


Granite City Housing Market Information

With 29,054 people, 12,423 houses or apartments, and a median cost of homes of $87,078, house prices in Granite City 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 Granite City, accounting for 78.68% of the city's housing units. Other types of housing that are prevalent in Granite City include duplexes, homes converted to apartments or other small apartment buildings ( 9.04%), large apartment complexes or high rise apartments ( 8.92%), and a few mobile homes or trailers ( 1.71%).

Dwellings in Granite City tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.02% of the homes in Granite City have two or fewer bedrooms.

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. Granite City's housing was primarily built during this period, from the '40s through the '60s. A full 57.25% of the city's housing hails from this era. Other housing ages represented in Granite City include homes built before 1939 ( 22.65%) and housing constructed between 1970-1999 ( 16.72%). There's also some housing in Granite City built between 2000 and later ( 3.38%).

Vacant housing appears to be an issue in Granite City. Fully 11.31% of the housing stock is classified as vacant. Left unchecked, vacant Granite City homes and apartments can be a drag on the real estate market, holding Granite City 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.

Granite City Home Appreciation Rates

Real estate appreciation rates in Granite City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.19% during the period.

NeighborhoodScout's data show that during the latest twelve months, Granite City's appreciation rate, at 5.16%, has been at or slightly above the national average. In the latest quarter, Granite City's appreciation rate has been 1.28%, which annualizes to a rate of 5.23%.

Relative to Illinois, our data show that Granite City's latest annual appreciation rate is higher than 70% 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 Granite City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Granite City - 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 Granite City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$87,078

Granite City, IL HOME PRICES

Value Range
> $1,081,000 0.0
$811,001 - $1,081,000 0.0
$541,001 - $811,000 0.0
$432,001 - $541,000 0.0
$324,001 - $432,000 0.2
$216,001 - $324,000 1.4
$108,001 - $216,000 27.0
$54,001 - $108,000 52.8
$0 - $54,000 18.5

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.1054634889032 83.7974683544304

Number Of Homes And Apartments:
12,423

Rent & Ownership

 

Average Market Rent:
$827 / per month

Homeownership Rate

Homeownership
Owners 66.76
Renters 33.24
Vacant 11.31

Housing Market Details

 

Age of Homes

AGE OF Granite City HOMES
2000 or Newer 3.4
1970 - 1999 16.7
1940 - 1969 57.2
1939 or Older 22.7

Types of Homes

TYPE OF Granite City HOMES
Single-Family 78.7
Townhomes 1.6
Small Apt. Buildings 9.0
Apt. Complexes 8.9
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Granite City HOMES
No Bedroom 0.91
1 Bedroom 11.91
2 Bedrooms 36.20
3 Bedrooms 38.80
4 Bedrooms 9.78
5 or more bedrooms 2.40

Granite City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
24.82% 1.31% 5 2
* 10 is highest