Kewanee, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Kewanee Neighborhoods Since 2000




Kewanee, 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

Kewanee Housing Market Information

With a population of 12,533, 5,257 total housing units (homes and apartments), and a median house value of $63,181, 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 79.33% of the city's housing units. Other types of housing that are prevalent in Kewanee include large apartment complexes or high rise apartments ( 11.11%), duplexes, homes converted to apartments or other small apartment buildings ( 6.45%), and a few mobile homes or trailers ( 2.07%).

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 63.46% owning and 36.54% renting.

The housing in Kewanee was primarily built before 1939 ( 43.17%), 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 ( 40.48%), followed by between 1970-1999 ( 14.30%). There's also some housing in Kewanee built between 2000 and later ( 2.05%).

Vacant housing appears to be an issue in Kewanee. Fully 10.73% 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

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

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 -2.62%, 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 -0.58%, which equates to an annual appreciation rate of -2.29%.

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

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

Average Home Values

 

Median Home Value:
$63,181

Kewanee, IL HOME PRICES

Value Range
> $977,000 0.5
$732,001 - $977,000 0.0
$488,001 - $732,000 0.7
$391,001 - $488,000 0.0
$293,001 - $391,000 1.2
$195,001 - $293,000 3.8
$98,001 - $195,000 17.5
$49,001 - $98,000 43.2
$0 - $49,000 33.1

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
97.3397398335872 97.0886075949367

Number Of Homes And Apartments:
5,257

Kewanee 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
4.64% 0.26% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$674 / per month

Homeownership Rate

Homeownership
Owners 63.46
Renters 36.54
Vacant 10.73

Housing Market Details

 

Age of Homes

AGE OF Kewanee HOMES
2000 or Newer 2.1
1970 - 1999 14.3
1940 - 1969 40.5
1939 or Older 43.2

Types of Homes

TYPE OF Kewanee HOMES
Single-Family 79.3
Townhomes 1.0
Small Apt. Buildings 6.5
Apt. Complexes 11.1
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Kewanee HOMES
No Bedroom 2.00
1 Bedroom 11.65
2 Bedrooms 32.28
3 Bedrooms 39.92
4 Bedrooms 11.87
5 or more bedrooms 2.28