Harvard, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Harvard, IL Real Estate Data


Harvard Housing Market Information

With a population of 9,194, 2,780 total housing units (homes and apartments), and a median house value of $166,479, 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 60.65% of the city's housing units. Other types of housing that are prevalent in Harvard include large apartment complexes or high rise apartments ( 13.36%), row houses and other attached homes ( 13.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.69%).

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 61.84% owning and 38.16% 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 ( 25.99%). A lesser amount of the housing stock also hails from before 1939 ( 24.20%). There's also some housing in Harvard built between 1940-1969 ( 20.57%).

Vacant housing appears to be an issue in Harvard. Fully 11.35% 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 31.15% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Harvard home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.

NeighborhoodScout's data show that during the latest twelve months, Harvard's appreciation rate, at 4.96%, has been at or slightly above the national average. In the latest quarter, Harvard's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Illinois, our data show that Harvard's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$166,479

Harvard, IL HOME PRICES

Value Range
> $1,059,000 0.1
$794,001 - $1,059,000 0.2
$530,001 - $794,000 1.3
$424,001 - $530,000 2.1
$318,001 - $424,000 10.0
$212,001 - $318,000 13.2
$106,001 - $212,000 52.6
$53,001 - $106,000 16.8
$0 - $53,000 3.9

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
44.0826843122328 36.9620253164557

Number Of Homes And Apartments:
2,780

Rent & Ownership

 

Average Market Rent:
$968 / per month

Homeownership Rate

Homeownership
Owners 61.84
Renters 38.16
Vacant 11.35

Housing Market Details

 

Age of Homes

AGE OF Harvard HOMES
2000 or Newer 26.0
1970 - 1999 29.2
1940 - 1969 20.6
1939 or Older 24.2

Types of Homes

TYPE OF Harvard HOMES
Single-Family 60.7
Townhomes 13.1
Small Apt. Buildings 9.7
Apt. Complexes 13.4
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Harvard HOMES
No Bedroom 0.41
1 Bedroom 5.99
2 Bedrooms 37.82
3 Bedrooms 40.50
4 Bedrooms 8.96
5 or more bedrooms 6.31

Harvard 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
-13.36% -0.84% 1 1
* 10 is highest