Metropolis, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Metropolis Neighborhoods Since 2000




Metropolis, 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

Metropolis Housing Market Information

With a population of 6,334, 2,727 total housing units (homes and apartments), and a median house value of $79,026, 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 70.96% of the city's housing units. Other types of housing that are prevalent in Metropolis include mobile homes or trailers ( 10.81%), duplexes, homes converted to apartments or other small apartment buildings ( 8.82%), and a few large apartment complexes or high rise apartments ( 8.39%).

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 45.54% of the city's housing hails from this era. Other housing ages represented in Metropolis include homes built between 1970-1999 ( 29.71%) and housing constructed before 1939 ( 19.20%). There's also some housing in Metropolis built between 2000 and later ( 5.54%).

Vacant housing appears to be an issue in Metropolis. Fully 16.48% 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 5.63%, which ranks in the top 40% nationwide. This equates to an annual average Metropolis house appreciation rate of 0.55%.

NeighborhoodScout's data show that during the latest twelve months, Metropolis's appreciation rate, at 4.59%, has been at or slightly above the national average. In the latest quarter, Metropolis's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$79,026

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 0.5
$311,001 - $415,000 0.0
$208,001 - $311,000 3.5
$104,001 - $208,000 23.3
$52,001 - $104,000 46.9
$0 - $52,000 25.7

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
91.1344193132544 89.2405063291139

Number Of Homes And Apartments:
2,727

Metropolis 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
16.83% 0.91% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$882 / per month

Homeownership Rate

Homeownership
Owners 55.93
Renters 44.07
Vacant 16.48

Housing Market Details

 

Age of Homes

AGE OF Metropolis HOMES
2000 or Newer 5.5
1970 - 1999 29.7
1940 - 1969 45.5
1939 or Older 19.2

Types of Homes

TYPE OF Metropolis HOMES
Single-Family 71.0
Townhomes 1.0
Small Apt. Buildings 8.8
Apt. Complexes 8.4
Mobile Homes 10.8
Other 0.0

Home Size

SIZE OF Metropolis HOMES
No Bedroom 3.15
1 Bedroom 7.26
2 Bedrooms 47.60
3 Bedrooms 30.38
4 Bedrooms 8.55
5 or more bedrooms 3.06

Popular Neighborhoods in Metropolis

Zip Codes in Metropolis, IL