Machesney Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Machesney Park Neighborhoods Since 2000




Machesney Park, 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

Machesney Park Housing Market Information

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 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 -1.98%, 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.

Average Home Values

 

Median Home Value:
$123,033

Machesney Park, IL HOME PRICES

Value Range
> $1,022,000 0.0
$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

Average for IL
Low for Nation

Value Relative to Nation Value Relative to State
63.7583499355444 54.4303797468354

Number Of Homes And Apartments:
8,626

Machesney Park 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
2.09% 0.12% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,086 / per month

Homeownership Rate

Homeownership
Owners 78.01
Renters 21.99
Vacant 5.79

Housing Market Details

 

Age of Homes

AGE OF Machesney Park HOMES
2000 or Newer 16.4
1970 - 1999 45.4
1940 - 1969 35.0
1939 or Older 3.2

Types of Homes

TYPE OF Machesney Park HOMES
Single-Family 85.7
Townhomes 2.3
Small Apt. Buildings 5.3
Apt. Complexes 3.6
Mobile Homes 2.9
Other 0.1

Home Size

SIZE OF Machesney Park HOMES
No Bedroom 0.43
1 Bedroom 2.30
2 Bedrooms 22.36
3 Bedrooms 59.67
4 Bedrooms 12.57
5 or more bedrooms 2.68