Kewanee, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Kewanee Neighborhoods Since 2000




Kewanee, IL Real Estate Data


Kewanee Housing Market Information

With 12,533 people, 5,175 houses or apartments, and a median cost of homes of $70,728, house prices in Kewanee 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 Kewanee, accounting for 77.33% of the city's housing units. Other types of housing that are prevalent in Kewanee include large apartment complexes or high rise apartments ( 11.38%), duplexes, homes converted to apartments or other small apartment buildings ( 8.17%), and a few mobile homes or trailers ( 1.67%).

The most prevalent building size and type in Kewanee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.39% owning and 36.61% renting.

The housing in Kewanee was primarily built before 1939 ( 44.39%), making the housing stock in Kewanee some of the oldest overall in America, although there is a range of ages of homes in Kewanee. The next most important housing age is between 1940-1969 ( 40.01%), followed by between 1970-1999 ( 13.02%). There's also some housing in Kewanee built between 2000 and later ( 2.58%).

Vacant housing appears to be an issue in Kewanee. Fully 11.58% of the housing stock is classified as vacant. Left unchecked, vacant Kewanee homes and apartments can be a drag on the real estate market, holding Kewanee 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.

Kewanee Home Appreciation Rates

Appreciation rates for homes in Kewanee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.10%, which ranks in the top 40% nationwide. This equates to an annual average Kewanee house appreciation rate of 0.97%.

Over the last year, Kewanee appreciation rates have trailed the rest of the nation. In the last twelve months, Kewanee's appreciation rate has been 3.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kewanee were at 2.71%, which equates to an annual appreciation rate of 11.29%.

Importantly, this makes Kewanee one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$70,728

Kewanee, IL HOME PRICES

Value Range
> $1,102,000 0.4
$826,001 - $1,102,000 0.0
$551,001 - $826,000 1.7
$441,001 - $551,000 0.0
$330,001 - $441,000 0.5
$220,001 - $330,000 3.7
$110,001 - $220,000 18.9
$55,001 - $110,000 40.1
$0 - $55,000 34.7

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
95.3621830532295 94.9367088607595

Number Of Homes And Apartments:
5,175

Rent & Ownership

 

Average Market Rent:
$759 / per month

Homeownership Rate

Homeownership
Owners 63.39
Renters 36.61
Vacant 11.58

Housing Market Details

 

Age of Homes

AGE OF Kewanee HOMES
2000 or Newer 2.6
1970 - 1999 13.0
1940 - 1969 40.0
1939 or Older 44.4

Types of Homes

TYPE OF Kewanee HOMES
Single-Family 77.3
Townhomes 1.5
Small Apt. Buildings 8.2
Apt. Complexes 11.4
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Kewanee HOMES
No Bedroom 1.44
1 Bedroom 11.70
2 Bedrooms 34.43
3 Bedrooms 38.72
4 Bedrooms 10.85
5 or more bedrooms 2.87

Kewanee 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
15.84% 0.87% 3 2
* 10 is highest