Harrisburg, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Harrisburg Neighborhoods Since 2000




Harrisburg, IL Real Estate Data


Harrisburg Housing Market Information

With 8,891 people, 3,771 houses or apartments, and a median cost of homes of $74,620, 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 71.57% of the city's housing units. Other types of housing that are prevalent in Harrisburg include mobile homes or trailers ( 10.96%), large apartment complexes or high rise apartments ( 10.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.26%).

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 41.03% of the city's housing hails from this era. Other housing ages represented in Harrisburg include homes built between 1970-1999 ( 29.22%) and housing constructed before 1939 ( 20.81%). There's also some housing in Harrisburg built between 2000 and later ( 8.94%).

Vacant housing appears to be an issue in Harrisburg. Fully 12.63% 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

Appreciation rates for homes in Harrisburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.49%, which ranks in the top 40% nationwide. This equates to an annual average Harrisburg house appreciation rate of 1.00%.

NeighborhoodScout's data show that during the latest twelve months, Harrisburg's appreciation rate, at 5.44%, has been at or slightly above the national average. In the latest quarter, Harrisburg's appreciation rate has been -0.08%, which annualizes to a rate of -0.30%.

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

Relative to Illinois, our data show that Harrisburg's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$74,620

Harrisburg, IL HOME PRICES

Value Range
> $1,077,000 0.0
$808,001 - $1,077,000 0.0
$539,001 - $808,000 0.0
$431,001 - $539,000 0.1
$323,001 - $431,000 0.1
$215,001 - $323,000 6.1
$108,001 - $215,000 19.1
$54,001 - $108,000 36.3
$0 - $54,000 38.3

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
93.8162440709727 93.6708860759494

Number Of Homes And Apartments:
3,771

Rent & Ownership

 

Average Market Rent:
$764 / per month

Homeownership Rate

Homeownership
Owners 59.65
Renters 40.35
Vacant 12.63

Housing Market Details

 

Age of Homes

AGE OF Harrisburg HOMES
2000 or Newer 8.9
1970 - 1999 29.2
1940 - 1969 41.0
1939 or Older 20.8

Types of Homes

TYPE OF Harrisburg HOMES
Single-Family 71.6
Townhomes 0.6
Small Apt. Buildings 6.3
Apt. Complexes 10.6
Mobile Homes 11.0
Other 0.0

Home Size

SIZE OF Harrisburg HOMES
No Bedroom 2.04
1 Bedroom 8.39
2 Bedrooms 45.02
3 Bedrooms 34.85
4 Bedrooms 7.44
5 or more bedrooms 2.27

Harrisburg 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
42.80% 2.12% 9 5
* 10 is highest