Midlothian, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midlothian, IL Real Estate Data


Midlothian Housing Market Information

With 14,847 people, 5,472 houses or apartments, and a median cost of homes of $173,294, Midlothian 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 Midlothian, accounting for 74.54% of the village's housing units. Other types of housing that are prevalent in Midlothian include large apartment complexes or high rise apartments ( 16.99%), duplexes, homes converted to apartments or other small apartment buildings ( 6.29%), and a few row houses and other attached homes ( 2.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Midlothian. Owner-occupied housing accounts for 74.55% of Midlothian's homes, and 61.77% have either three or four bedrooms, which is average sized relative to America.

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. Midlothian's housing was primarily built during this period, from the '40s through the '60s. A full 57.13% of the village's housing hails from this era. Other housing ages represented in Midlothian include homes built between 1970-1999 ( 31.11%) and housing constructed before 1939 ( 8.63%). There's also some housing in Midlothian built between 2000 and later ( 3.13%).

Midlothian Home Appreciation Rates

Homes have actually lost value in Midlothian over the last then years, as home values have seen a decline of 25.17% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Midlothian home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.

NeighborhoodScout's data show that during the latest twelve months, Midlothian's appreciation rate, at 5.17%, has been at or slightly above the national average. In the latest quarter, Midlothian's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Illinois, our data show that Midlothian's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$173,294

Midlothian, IL HOME PRICES

Value Range
> $1,064,000 0.0
$798,001 - $1,064,000 0.2
$532,001 - $798,000 0.1
$426,001 - $532,000 1.0
$319,001 - $426,000 2.3
$213,001 - $319,000 17.8
$106,001 - $213,000 64.4
$53,001 - $106,000 10.4
$0 - $53,000 3.8

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
41.5207589155004 34.6835443037975

Number Of Homes And Apartments:
5,472

Rent & Ownership

 

Average Market Rent:
$1,046 / per month

Homeownership Rate

Homeownership
Owners 74.55
Renters 25.45
Vacant 7.97

Housing Market Details

 

Age of Homes

AGE OF Midlothian HOMES
2000 or Newer 3.1
1970 - 1999 31.1
1940 - 1969 57.1
1939 or Older 8.6

Types of Homes

TYPE OF Midlothian HOMES
Single-Family 74.5
Townhomes 2.2
Small Apt. Buildings 6.3
Apt. Complexes 17.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Midlothian HOMES
No Bedroom 0.00
1 Bedroom 10.86
2 Bedrooms 24.59
3 Bedrooms 48.77
4 Bedrooms 13.00
5 or more bedrooms 2.77

Midlothian 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
12.34% 0.69% 3 1
* 10 is highest