Metropolis, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Metropolis, IL Real Estate Data


Metropolis Housing Market Information

With a population of 6,334, 2,735 total housing units (homes and apartments), and a median house value of $81,098, house prices in Metropolis are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Metropolis, accounting for 74.37% of the city's housing units. Other types of housing that are prevalent in Metropolis include large apartment complexes or high rise apartments ( 9.03%), mobile homes or trailers ( 8.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.84%).

People in Metropolis primarily live in small (one, two or no bedroom) single-family detached homes. Metropolis 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. Metropolis's housing was primarily built during this period, from the '40s through the '60s. A full 43.27% of the city's housing hails from this era. Other housing ages represented in Metropolis include homes built between 1970-1999 ( 29.31%) and housing constructed before 1939 ( 21.56%). There's also some housing in Metropolis built between 2000 and later ( 5.87%).

Vacant housing appears to be an issue in Metropolis. Fully 16.84% of the housing stock is classified as vacant. Left unchecked, vacant Metropolis homes and apartments can be a drag on the real estate market, holding Metropolis 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.

Metropolis Home Appreciation Rates

Appreciation rates for homes in Metropolis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.49%, which ranks in the top 30% nationwide. This equates to an annual average Metropolis house appreciation rate of 1.18%.

Over the last year, Metropolis appreciation rates have trailed the rest of the nation. In the last twelve months, Metropolis's appreciation rate has been 3.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Metropolis were at -0.08%, which equates to an annual appreciation rate of -0.30%.

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

Relative to Illinois, our data show that Metropolis's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$81,098

Metropolis, IL HOME PRICES

Value Range
> $1,038,000 0.0
$778,001 - $1,038,000 0.0
$519,001 - $778,000 0.0
$415,001 - $519,000 0.7
$311,001 - $415,000 0.4
$208,001 - $311,000 3.7
$104,001 - $208,000 26.0
$52,001 - $104,000 44.1
$0 - $52,000 25.1

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
90.677519470633 89.873417721519

Number Of Homes And Apartments:
2,735

Rent & Ownership

 

Average Market Rent:
$848 / per month

Homeownership Rate

Homeownership
Owners 55.96
Renters 44.04
Vacant 16.84

Housing Market Details

 

Age of Homes

AGE OF Metropolis HOMES
2000 or Newer 5.9
1970 - 1999 29.3
1940 - 1969 43.3
1939 or Older 21.6

Types of Homes

TYPE OF Metropolis HOMES
Single-Family 74.4
Townhomes 1.1
Small Apt. Buildings 6.8
Apt. Complexes 9.0
Mobile Homes 8.7
Other 0.0

Home Size

SIZE OF Metropolis HOMES
No Bedroom 1.95
1 Bedroom 7.45
2 Bedrooms 45.33
3 Bedrooms 31.59
4 Bedrooms 9.76
5 or more bedrooms 3.92

Metropolis 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
16.54% 0.90% 3 2
* 10 is highest

Popular Neighborhoods in Metropolis

Zip Codes in Metropolis, IL