Macomb, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Macomb, IL Real Estate Data


Macomb Housing Market Information

With a population of 18,547, 7,014 total housing units (homes and apartments), and a median house value of $108,059, house prices in Macomb are solidly below the national average.

Single-family detached homes are the single most common housing type in Macomb, accounting for 50.61% of the city's housing units. Other types of housing that are prevalent in Macomb include large apartment complexes or high rise apartments ( 28.61%), duplexes, homes converted to apartments or other small apartment buildings ( 13.44%), and a few row houses and other attached homes ( 4.00%).

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

There is a lot of housing in Macomb 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 Macomb built between 1940-1969 ( 27.24%). A lesser amount of the housing stock also hails from before 1939 ( 24.86%). There's also some housing in Macomb built between 2000 and later ( 11.62%).

Vacant housing appears to be an issue in Macomb. Fully 13.19% of the housing stock is classified as vacant. Left unchecked, vacant Macomb homes and apartments can be a drag on the real estate market, holding Macomb real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Macomb Home Appreciation Rates

Appreciation rates for homes in Macomb have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.20%, which ranks in the top 30% nationwide. This equates to an annual average Macomb house appreciation rate of 1.25%.

Over the last year, Macomb appreciation rates have trailed the rest of the nation. In the last twelve months, Macomb's appreciation rate has been 4.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Macomb were at -0.08%, which equates to an annual appreciation rate of -0.30%.

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

Relative to Illinois, our data show that Macomb's latest annual appreciation rate is lower than 70% 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 Macomb differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Macomb - 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 Macomb real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$108,059

Macomb, IL HOME PRICES

Value Range
> $1,069,000 0.3
$802,001 - $1,069,000 0.0
$534,001 - $802,000 0.9
$428,001 - $534,000 0.8
$320,001 - $428,000 1.6
$214,001 - $320,000 7.5
$107,001 - $214,000 35.8
$54,001 - $107,000 37.1
$0 - $54,000 16.0

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
73.6487673478948 67.2151898734177

Number Of Homes And Apartments:
7,014

Rent & Ownership

 

Average Market Rent:
$915 / per month

Homeownership Rate

Homeownership
Owners 35.13
Renters 64.87
Vacant 13.19

Housing Market Details

 

Age of Homes

AGE OF Macomb HOMES
2000 or Newer 11.6
1970 - 1999 36.3
1940 - 1969 27.2
1939 or Older 24.9

Types of Homes

TYPE OF Macomb HOMES
Single-Family 50.6
Townhomes 4.0
Small Apt. Buildings 13.4
Apt. Complexes 28.6
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Macomb HOMES
No Bedroom 4.27
1 Bedroom 20.87
2 Bedrooms 35.12
3 Bedrooms 24.60
4 Bedrooms 12.25
5 or more bedrooms 2.88

Macomb 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
37.82% 1.90% 8 4
* 10 is highest