Machesney Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Machesney Park, IL Real Estate Data


Machesney Park Housing Market Information

With 22,927 people, 8,610 houses or apartments, and a median cost of homes of $122,217, 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 85.78% 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 ( 4.72%), large apartment complexes or high rise apartments ( 4.55%), and a few mobile homes or trailers ( 2.60%).

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 78.76% of Machesney Park's homes, and 71.23% 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 ( 36.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.27%). There's also some housing in Machesney Park built before 1939 ( 3.14%).

Machesney Park Home Appreciation Rates

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 -1.73%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Machesney Park's appreciation rate, at 4.97%, has been at or slightly above the national average. In the latest quarter, Machesney Park's appreciation rate has been 4.27%, which annualizes to a rate of 18.21%.

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

Relative to Illinois, our data show that Machesney Park's latest annual appreciation rate is higher than 60% 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.

Average Home Values

 

Median Home Value:
$122,217

Machesney Park, IL HOME PRICES

Value Range
> $1,028,000 0.2
$771,001 - $1,028,000 0.0
$514,001 - $771,000 0.2
$411,001 - $514,000 1.3
$308,001 - $411,000 1.2
$206,001 - $308,000 5.2
$103,001 - $206,000 54.8
$52,001 - $103,000 31.0
$0 - $52,000 6.1

Average for IL
Low for Nation

Value Relative to Nation Value Relative to State
65.0348421853956 57.0886075949367

Number Of Homes And Apartments:
8,610

Rent & Ownership

 

Average Market Rent:
$1,038 / per month

Homeownership Rate

Homeownership
Owners 78.76
Renters 21.24
Vacant 6.10

Housing Market Details

 

Age of Homes

AGE OF Machesney Park HOMES
2000 or Newer 15.3
1970 - 1999 44.7
1940 - 1969 36.9
1939 or Older 3.1

Types of Homes

TYPE OF Machesney Park HOMES
Single-Family 85.8
Townhomes 2.2
Small Apt. Buildings 4.7
Apt. Complexes 4.5
Mobile Homes 2.6
Other 0.1

Home Size

SIZE OF Machesney Park HOMES
No Bedroom 0.00
1 Bedroom 2.72
2 Bedrooms 23.51
3 Bedrooms 58.26
4 Bedrooms 12.97
5 or more bedrooms 2.54

Machesney Park 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
3.38% 0.20% 2 1
* 10 is highest