Harvard, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Harvard Neighborhoods Since 2000




Harvard, 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

Harvard Housing Market Information

With 9,194 people, 2,811 houses or apartments, and a median cost of homes of $163,376, Harvard real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Harvard, accounting for 62.10% of the city's housing units. Other types of housing that are prevalent in Harvard include large apartment complexes or high rise apartments ( 13.71%), row houses and other attached homes ( 11.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.20%).

The most prevalent building size and type in Harvard are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.63% owning and 41.37% renting.

There is a lot of housing in Harvard built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Harvard built between 2000 and later ( 23.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.35%). There's also some housing in Harvard built before 1939 ( 22.67%).

Vacant housing appears to be an issue in Harvard. Fully 12.59% of the housing stock is classified as vacant. Left unchecked, vacant Harvard homes and apartments can be a drag on the real estate market, holding Harvard 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.

Harvard Home Appreciation Rates

Homes have actually lost value in Harvard over the last then years, as home values have seen a decline of 28.91% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Harvard home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in Harvard that despite a nationwide downturn in the housing market, Harvard real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harvard appreciation rates continue to be some of the highest in America, at 5.90%, which is higher than appreciation rates in 73.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harvard. Harvard appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$163,376

Harvard, IL HOME PRICES

Value Range
> $1,109,000 1.3
$832,001 - $1,109,000 0.3
$554,001 - $832,000 1.4
$443,001 - $554,000 1.8
$333,001 - $443,000 5.5
$222,001 - $333,000 10.2
$111,001 - $222,000 55.5
$55,001 - $111,000 20.6
$0 - $55,000 3.5

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
44.3044650181648 36.5822784810127

Number Of Homes And Apartments:
2,811

Harvard 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
-10.29% -0.63% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,261 / per month

Homeownership Rate

Homeownership
Owners 58.63
Renters 41.37
Vacant 12.59

Housing Market Details

 

Age of Homes

AGE OF Harvard HOMES
2000 or Newer 23.4
1970 - 1999 30.6
1940 - 1969 23.4
1939 or Older 22.7

Types of Homes

TYPE OF Harvard HOMES
Single-Family 62.1
Townhomes 11.4
Small Apt. Buildings 10.2
Apt. Complexes 13.7
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Harvard HOMES
No Bedroom 0.25
1 Bedroom 6.22
2 Bedrooms 38.12
3 Bedrooms 42.07
4 Bedrooms 8.18
5 or more bedrooms 5.16