Lincoln, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lincoln, IL Real Estate Data


Lincoln Housing Market Information

With 13,966 people, 6,566 houses or apartments, and a median cost of homes of $106,257, house prices in Lincoln are solidly below the national average.

Single-family detached homes are the single most common housing type in Lincoln, accounting for 70.23% of the city's housing units. Other types of housing that are prevalent in Lincoln include large apartment complexes or high rise apartments ( 13.65%), duplexes, homes converted to apartments or other small apartment buildings ( 10.98%), and a few mobile homes or trailers ( 3.86%).

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 37.57% of the city's housing hails from this era. Other housing ages represented in Lincoln include homes built between 1970-1999 ( 32.00%) and housing constructed before 1939 ( 27.69%). There's also some housing in Lincoln built between 2000 and later ( 2.74%).

Lincoln Home Appreciation Rates

Appreciation rates for homes in Lincoln have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.06%, which ranks in the top 50% nationwide. This equates to an annual average Lincoln house appreciation rate of 0.30%.

NeighborhoodScout's data show that during the latest twelve months, Lincoln's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Lincoln's appreciation rate has been -0.08%, which annualizes to a rate of -0.30%.

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

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lincoln differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lincoln - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lincoln real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$106,257

Lincoln, IL HOME PRICES

Value Range
> $1,092,000 0.0
$819,001 - $1,092,000 0.3
$546,001 - $819,000 0.2
$437,001 - $546,000 0.2
$327,001 - $437,000 1.3
$218,001 - $327,000 6.3
$109,001 - $218,000 32.5
$54,001 - $109,000 48.2
$0 - $54,000 10.9

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
74.8375007319787 68.9873417721519

Number Of Homes And Apartments:
6,566

Rent & Ownership

 

Average Market Rent:
$733 / per month

Homeownership Rate

Homeownership
Owners 56.67
Renters 43.33
Vacant 6.71

Housing Market Details

 

Age of Homes

AGE OF Lincoln HOMES
2000 or Newer 2.7
1970 - 1999 32.0
1940 - 1969 37.6
1939 or Older 27.7

Types of Homes

TYPE OF Lincoln HOMES
Single-Family 70.2
Townhomes 1.3
Small Apt. Buildings 11.0
Apt. Complexes 13.7
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Lincoln HOMES
No Bedroom 0.28
1 Bedroom 12.29
2 Bedrooms 40.18
3 Bedrooms 37.14
4 Bedrooms 8.44
5 or more bedrooms 1.66

Lincoln 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
22.16% 1.18% 4 2
* 10 is highest