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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 22,927, 8,626 total housing units (homes and apartments), and a median house value of $123,033, house prices in Machesney Park are solidly below the national average.
Single-family detached homes are the single most common housing type in Machesney Park, accounting for 85.75% of the village's housing units. Other types of housing that are prevalent in Machesney Park include duplexes, homes converted to apartments or other small apartment buildings ( 5.25%), large apartment complexes or high rise apartments ( 3.60%), and a few mobile homes or trailers ( 2.93%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Machesney Park. Owner-occupied housing accounts for 78.01% of Machesney Park's homes, and 72.24% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Machesney Park built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Machesney Park built between 1940-1969 ( 34.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.44%). There's also some housing in Machesney Park built before 1939 ( 3.23%).
Machesney Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Machesney Park during the period has been just -1.98%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Machesney Park's appreciation rate, at 4.99%, has been at or slightly above the national average. In the latest quarter, Machesney Park's appreciation rate has been -1.84%, which annualizes to a rate of -7.16%.
Notably, Machesney Park's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Machesney Park's latest annual appreciation rate is higher than 80% 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 village. Individual neighborhoods within Machesney Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Machesney Park - 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 Machesney Park real estate investment or home purchase decisions.
|$766,001 - $1,022,000||0.1|
|$511,001 - $766,000||0.3|
|$409,001 - $511,000||1.5|
|$306,001 - $409,000||1.0|
|$204,001 - $306,000||5.7|
|$102,001 - $204,000||54.4|
|$51,001 - $102,000||30.8|
|$0 - $51,000||6.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Machesney Park HOMES|
|2000 or Newer||16.4|
|1970 - 1999||45.4|
|1940 - 1969||35.0|
|1939 or Older||3.2|
|TYPE OF Machesney Park HOMES|
|Small Apt. Buildings||5.3|
|SIZE OF Machesney Park HOMES|
|5 or more bedrooms||2.68|