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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lincoln, IL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lincoln, IL Housing Market Trends

With a population of 13,084, 5,947 total housing units (homes and apartments), and a median house value of $129,900, house prices in Lincoln 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 Lincoln, accounting for 72.74% of the city's housing units. Other types of housing that are prevalent in Lincoln include large apartment complexes or high rise apartments ( 12.95%), duplexes, homes converted to apartments or other small apartment buildings ( 8.54%), and a few mobile homes or trailers ( 3.57%).

People in Lincoln primarily live in small (one, two or no bedroom) single-family detached homes. Lincoln has a mixture of owner-occupied and renter-occupied housing.

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. Lincoln's housing was primarily built during this period, from the '40s through the '60s. A full 39.82% of the city's housing hails from this era. Other housing ages represented in Lincoln include homes built between 1970-1999 ( 34.65%) and housing constructed before 1939 ( 19.82%). There's also some housing in Lincoln built between 2000 and later ( 5.71%).

Lincoln Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Lincoln, where house values have increased just 35.46%, which is annualized rate of 3.08%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Lincoln appreciation rates have trailed the rest of the nation. In the last twelve months, Lincoln's appreciation rate has been 4.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lincoln were at 1.05%, which equates to an annual appreciation rate of 4.25%.

Relative to Illinois, our data show that Lincoln's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$129,900

Lincoln, IL Home Prices
> $1,201,000
$901,001 - $1,201,000
$600,001 - $901,000
$480,001 - $600,000
$360,001 - $480,000
$240,001 - $360,000
$120,001 - $240,000
$60,001 - $120,000
$0 - $60,000
0.0%
0.0%
0.0%
0.0%
2.2%
2.2%
0.3%
0.3%
3.1%
3.1%
9.9%
9.9%
39.9%
39.9%
34.1%
34.1%
10.6%
10.6%
0% 100.0%
% of Homes
Very Low

for Illinois

Very Low

for nation

Number of Homes And Apartments:

5,947

Lincoln Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,024 / per month

Homeownership Rate

Owners
Renters
56.9%
56.9%
43.1%
43.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.2%
6.2%
93.8%
93.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.7%
5.7%
34.6%
34.6%
39.8%
39.8%
19.8%
19.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.7%
72.7%
2.2%
2.2%
8.5%
8.5%
13.0%
13.0%
3.6%
3.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
14.4%
14.4%
35.2%
35.2%
35.5%
35.5%
11.5%
11.5%
2.7%
2.7%
0% 100.0%
% of Homes

Popular Neighborhoods in Lincoln

Zip Codes in Lincoln, IL