Marseilles, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Marseilles, 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

Marseilles Housing Market Information

With a population of 4,963, 1,829 total housing units (homes and apartments), and a median house value of $150,575, Marseilles real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Marseilles, accounting for 76.75% of the city's housing units. Other types of housing that are prevalent in Marseilles include duplexes, homes converted to apartments or other small apartment buildings ( 7.22%), mobile homes or trailers ( 6.89%), and a few large apartment complexes or high rise apartments ( 6.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Marseilles. Owner-occupied housing accounts for 71.34% of Marseilles's homes, and 59.52% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Marseilles 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 Marseilles built before 1939 ( 29.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.22%). There's also some housing in Marseilles built between 2000 and later ( 14.31%).

Vacant housing appears to be an issue in Marseilles. Fully 12.49% of the housing stock is classified as vacant. Left unchecked, vacant Marseilles homes and apartments can be a drag on the real estate market, holding Marseilles 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.

Marseilles Home Appreciation Rates

Marseilles's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Marseilles during the period has been just -1.17%, which is lower than 70% of US communities.

Appreciation rates are so strong in Marseilles that despite a nationwide downturn in the housing market, Marseilles real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Marseilles appreciation rates continue to be some of the highest in America, at 8.82%, which is higher than appreciation rates in 90.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Marseilles. Marseilles appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$150,575

Marseilles, IL HOME PRICES

Value Range
> $1,100,000 0.2
$825,001 - $1,100,000 0.9
$550,001 - $825,000 0.8
$440,001 - $550,000 0.6
$330,001 - $440,000 6.7
$220,001 - $330,000 19.0
$110,001 - $220,000 36.4
$55,001 - $110,000 25.8
$0 - $55,000 9.6

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
49.6953005976796 42.1518987341772

Number Of Homes And Apartments:
1,829

Marseilles 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
21.29% 1.13% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$932 / per month

Homeownership Rate

Homeownership
Owners 71.34
Renters 28.66
Vacant 12.49

Housing Market Details

 

Age of Homes

AGE OF Marseilles HOMES
2000 or Newer 14.3
1970 - 1999 30.0
1940 - 1969 26.2
1939 or Older 29.5

Types of Homes

TYPE OF Marseilles HOMES
Single-Family 76.7
Townhomes 2.4
Small Apt. Buildings 7.2
Apt. Complexes 6.7
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Marseilles HOMES
No Bedroom 1.34
1 Bedroom 8.52
2 Bedrooms 27.94
3 Bedrooms 46.94
4 Bedrooms 12.58
5 or more bedrooms 2.68

Popular Neighborhoods in Marseilles

Zip Codes in Marseilles, IL