Mattoon, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mattoon Neighborhoods Since 2000




Mattoon, 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

Mattoon Housing Market Information

With 18,113 people, 7,687 houses or apartments, and a median cost of homes of $93,482, house prices in Mattoon are solidly below the national average.

Single-family detached homes are the single most common housing type in Mattoon, accounting for 67.95% of the city's housing units. Other types of housing that are prevalent in Mattoon include duplexes, homes converted to apartments or other small apartment buildings ( 13.68%), large apartment complexes or high rise apartments ( 13.49%), and a few mobile homes or trailers ( 3.65%).

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mattoon's housing was primarily built during this period, from the '40s through the '60s. A full 41.77% of the city's housing hails from this era. Other housing ages represented in Mattoon include homes built before 1939 ( 28.54%) and housing constructed between 1970-1999 ( 26.55%). There's also some housing in Mattoon built between 2000 and later ( 3.15%).

Vacant housing appears to be an issue in Mattoon. Fully 11.65% of the housing stock is classified as vacant. Left unchecked, vacant Mattoon homes and apartments can be a drag on the real estate market, holding Mattoon 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.

Mattoon Home Appreciation Rates

Appreciation rates for homes in Mattoon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.00%, which ranks in the top 40% nationwide. This equates to an annual average Mattoon house appreciation rate of 0.58%.

Over the last year, Mattoon appreciation rates have trailed the rest of the nation. In the last twelve months, Mattoon's appreciation rate has been 1.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mattoon were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Mattoon'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 Mattoon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mattoon - 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 Mattoon real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$93,482

Mattoon, IL HOME PRICES

Value Range
> $1,049,000 0.5
$787,001 - $1,049,000 0.0
$525,001 - $787,000 0.4
$420,001 - $525,000 0.1
$315,001 - $420,000 0.8
$210,001 - $315,000 3.7
$105,001 - $210,000 26.4
$52,001 - $105,000 48.8
$0 - $52,000 19.2

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
81.6799484354858 76.4556962025316

Number Of Homes And Apartments:
7,687

Mattoon 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
20.40% 1.08% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$733 / per month

Homeownership Rate

Homeownership
Owners 60.11
Renters 39.89
Vacant 11.65

Housing Market Details

 

Age of Homes

AGE OF Mattoon HOMES
2000 or Newer 3.1
1970 - 1999 26.5
1940 - 1969 41.8
1939 or Older 28.5

Types of Homes

TYPE OF Mattoon HOMES
Single-Family 67.9
Townhomes 1.2
Small Apt. Buildings 13.7
Apt. Complexes 13.5
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Mattoon HOMES
No Bedroom 2.09
1 Bedroom 15.48
2 Bedrooms 33.84
3 Bedrooms 39.91
4 Bedrooms 7.65
5 or more bedrooms 1.02