Harrisburg, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Harrisburg Neighborhoods Since 2000




Harrisburg, 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

Harrisburg Housing Market Information

With 8,891 people, 3,742 houses or apartments, and a median cost of homes of $73,995, house prices in Harrisburg 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 Harrisburg, accounting for 67.02% of the city's housing units. Other types of housing that are prevalent in Harrisburg include mobile homes or trailers ( 12.83%), large apartment complexes or high rise apartments ( 10.11%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.31%).

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

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. Harrisburg's housing was primarily built during this period, from the '40s through the '60s. A full 39.46% of the city's housing hails from this era. Other housing ages represented in Harrisburg include homes built between 1970-1999 ( 29.02%) and housing constructed before 1939 ( 21.79%). There's also some housing in Harrisburg built between 2000 and later ( 9.73%).

Vacant housing appears to be an issue in Harrisburg. Fully 12.22% of the housing stock is classified as vacant. Left unchecked, vacant Harrisburg homes and apartments can be a drag on the real estate market, holding Harrisburg 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.

Harrisburg Home Appreciation Rates

In the last 10 years, Harrisburg has experienced some of the highest home appreciation rates of any community in the nation. Harrisburg real estate appreciated 20.84% over the last ten years, which is an average annual home appreciation rate of 1.91%, putting Harrisburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harrisburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Harrisburg that despite a nationwide downturn in the housing market, Harrisburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harrisburg appreciation rates continue to be some of the highest in America, at 8.32%, which is higher than appreciation rates in 88.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harrisburg. Harrisburg appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Harrisburg's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$73,995

Harrisburg, IL HOME PRICES

Value Range
> $1,130,000 0.5
$848,001 - $1,130,000 0.2
$565,001 - $848,000 0.0
$452,001 - $565,000 0.0
$339,001 - $452,000 0.0
$226,001 - $339,000 4.4
$113,001 - $226,000 20.8
$57,001 - $113,000 35.7
$0 - $57,000 38.3

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
93.6013125512715 93.0379746835443

Number Of Homes And Apartments:
3,742

Harrisburg 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
54.63% 2.56% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$750 / per month

Homeownership Rate

Homeownership
Owners 56.20
Renters 43.80
Vacant 12.22

Housing Market Details

 

Age of Homes

AGE OF Harrisburg HOMES
2000 or Newer 9.7
1970 - 1999 29.0
1940 - 1969 39.5
1939 or Older 21.8

Types of Homes

TYPE OF Harrisburg HOMES
Single-Family 67.0
Townhomes 0.7
Small Apt. Buildings 9.3
Apt. Complexes 10.1
Mobile Homes 12.8
Other 0.0

Home Size

SIZE OF Harrisburg HOMES
No Bedroom 1.38
1 Bedroom 12.01
2 Bedrooms 42.08
3 Bedrooms 34.83
4 Bedrooms 8.00
5 or more bedrooms 1.69