Hillsboro, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Hillsboro Neighborhoods Since 2000




Hillsboro, 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

Hillsboro Housing Market Information

With a population of 5,726, 1,477 total housing units (homes and apartments), and a median house value of $95,023, house prices in Hillsboro are solidly below the national average.

Single-family detached homes are the single most common housing type in Hillsboro, accounting for 88.13% of the city's housing units. Other types of housing that are prevalent in Hillsboro include large apartment complexes or high rise apartments ( 4.34%), duplexes, homes converted to apartments or other small apartment buildings ( 4.34%), and a few mobile homes or trailers ( 3.20%).

Renters dominate Hillsboro's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

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. Hillsboro's housing was primarily built during this period, from the '40s through the '60s. A full 41.38% of the city's housing hails from this era. Other housing ages represented in Hillsboro include homes built between 1970-1999 ( 24.20%) and housing constructed before 1939 ( 24.14%). There's also some housing in Hillsboro built between 2000 and later ( 10.27%).

Vacant housing appears to be an issue in Hillsboro. Fully 15.70% of the housing stock is classified as vacant. Left unchecked, vacant Hillsboro homes and apartments can be a drag on the real estate market, holding Hillsboro 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.

Hillsboro Home Appreciation Rates

Appreciation rates for homes in Hillsboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.30%, which ranks in the top 50% nationwide. This equates to an annual average Hillsboro house appreciation rate of 0.03%.

Over the last year, Hillsboro appreciation rates have trailed the rest of the nation. In the last twelve months, Hillsboro's appreciation rate has been 2.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hillsboro were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Hillsboro's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$95,023

Hillsboro, IL HOME PRICES

Value Range
> $1,012,000 0.0
$759,001 - $1,012,000 0.0
$506,001 - $759,000 0.0
$404,001 - $506,000 0.1
$303,001 - $404,000 1.7
$202,001 - $303,000 10.9
$101,001 - $202,000 23.6
$50,001 - $101,000 43.7
$0 - $50,000 20.0

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
80.7804992382515 75.4430379746835

Number Of Homes And Apartments:
1,477

Hillsboro 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
24.21% 1.26% 5 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$757 / per month

Homeownership Rate

Homeownership
Owners 28.46
Renters 71.54
Vacant 15.70

Housing Market Details

 

Age of Homes

AGE OF Hillsboro HOMES
2000 or Newer 10.3
1970 - 1999 24.2
1940 - 1969 41.4
1939 or Older 24.1

Types of Homes

TYPE OF Hillsboro HOMES
Single-Family 88.1
Townhomes 0.0
Small Apt. Buildings 4.3
Apt. Complexes 4.3
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Hillsboro HOMES
No Bedroom 1.37
1 Bedroom 2.91
2 Bedrooms 26.14
3 Bedrooms 48.80
4 Bedrooms 12.44
5 or more bedrooms 8.33

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Zip Codes in Hillsboro, IL