Hillsboro, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hillsboro, IL Real Estate Data


Hillsboro Housing Market Information

With a population of 5,726, 1,634 total housing units (homes and apartments), and a median house value of $91,270, 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 83.84% of the city's housing units. Other types of housing that are prevalent in Hillsboro include duplexes, homes converted to apartments or other small apartment buildings ( 7.82%), large apartment complexes or high rise apartments ( 5.53%), and a few mobile homes or trailers ( 2.82%).

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 42.86% of the city's housing hails from this era. Other housing ages represented in Hillsboro include homes built between 1970-1999 ( 25.60%) and housing constructed before 1939 ( 21.79%). There's also some housing in Hillsboro built between 2000 and later ( 9.75%).

Vacant housing appears to be an issue in Hillsboro. Fully 14.81% 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

Real estate appreciation rates in Hillsboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.26% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hillsboro's appreciation rate, at 4.71%, has been at or slightly above the national average. In the latest quarter, Hillsboro's appreciation rate has been -0.08%, which annualizes to a rate of -0.30%.

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

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:
$91,270

Hillsboro, IL HOME PRICES

Value Range
> $1,051,000 0.0
$788,001 - $1,051,000 0.0
$526,001 - $788,000 0.0
$420,001 - $526,000 0.1
$315,001 - $420,000 1.7
$210,001 - $315,000 8.3
$105,001 - $210,000 27.0
$53,001 - $105,000 42.3
$0 - $53,000 20.6

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
84.5406101774316 79.746835443038

Number Of Homes And Apartments:
1,634

Rent & Ownership

 

Average Market Rent:
$832 / per month

Homeownership Rate

Homeownership
Owners 31.72
Renters 68.28
Vacant 14.81

Housing Market Details

 

Age of Homes

AGE OF Hillsboro HOMES
2000 or Newer 9.7
1970 - 1999 25.6
1940 - 1969 42.9
1939 or Older 21.8

Types of Homes

TYPE OF Hillsboro HOMES
Single-Family 83.8
Townhomes 0.0
Small Apt. Buildings 7.8
Apt. Complexes 5.5
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Hillsboro HOMES
No Bedroom 1.20
1 Bedroom 6.20
2 Bedrooms 28.62
3 Bedrooms 43.12
4 Bedrooms 13.40
5 or more bedrooms 7.46

Hillsboro 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
25.84% 1.36% 5 3
* 10 is highest

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