Mahomet, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mahomet, IL Real Estate Data


Mahomet Housing Market Information

With a population of 8,056, 2,734 total housing units (homes and apartments), and a median house value of $198,484, Mahomet real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mahomet, accounting for 83.16% of the village's housing units. Other types of housing that are prevalent in Mahomet include duplexes, homes converted to apartments or other small apartment buildings ( 7.38%), large apartment complexes or high rise apartments ( 5.29%), and a few row houses and other attached homes ( 4.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mahomet. Owner-occupied housing accounts for 81.34% of Mahomet's homes, and 74.27% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mahomet 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 Mahomet built between 2000 and later ( 34.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.61%). There's also some housing in Mahomet built before 1939 ( 3.42%).

Mahomet Home Appreciation Rates

Appreciation rates for homes in Mahomet have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.10%, which ranks in the top 40% nationwide. This equates to an annual average Mahomet house appreciation rate of 0.78%.

Over the last year, Mahomet appreciation rates have trailed the rest of the nation. In the last twelve months, Mahomet's appreciation rate has been 2.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mahomet were at 0.52%, which equates to an annual appreciation rate of 2.10%.

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

Relative to Illinois, our data show that Mahomet's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$198,484

Mahomet, IL HOME PRICES

Value Range
> $1,080,000 0.4
$810,001 - $1,080,000 1.7
$540,001 - $810,000 0.7
$432,001 - $540,000 2.1
$324,001 - $432,000 7.7
$216,001 - $324,000 29.9
$108,001 - $216,000 45.6
$54,001 - $108,000 4.0
$0 - $54,000 8.0

High for IL
High for Nation

Value Relative to Nation Value Relative to State
33.5831820577385 26.8354430379747

Number Of Homes And Apartments:
2,734

Rent & Ownership

 

Average Market Rent:
$1,062 / per month

Homeownership Rate

Homeownership
Owners 81.34
Renters 18.66
Vacant 3.49

Housing Market Details

 

Age of Homes

AGE OF Mahomet HOMES
2000 or Newer 34.5
1970 - 1999 44.5
1940 - 1969 17.6
1939 or Older 3.4

Types of Homes

TYPE OF Mahomet HOMES
Single-Family 83.2
Townhomes 4.2
Small Apt. Buildings 7.4
Apt. Complexes 5.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mahomet HOMES
No Bedroom 2.01
1 Bedroom 2.08
2 Bedrooms 10.80
3 Bedrooms 43.49
4 Bedrooms 30.78
5 or more bedrooms 10.84

Mahomet 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
41.05% 2.04% 8 5
* 10 is highest

Popular Neighborhoods in Mahomet

Zip Codes in Mahomet, IL