Mokena, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mokena Neighborhoods Since 2000




Mokena, 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

Mokena Housing Market Information

With 19,923 people, 6,448 houses or apartments, and a median cost of homes of $293,380, Mokena real estate is some of the most expensive in Illinois, although Mokena home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Mokena, accounting for 65.55% of the village's housing units. Other types of housing that are prevalent in Mokena include row houses and other attached homes ( 22.49%), large apartment complexes or high rise apartments ( 7.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mokena. Owner-occupied housing accounts for 92.27% of Mokena's homes, and 68.00% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mokena 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 Mokena built between 2000 and later ( 27.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.22%). There's also some housing in Mokena built before 1939 ( 2.29%).

Mokena Home Appreciation Rates

Mokena's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mokena during the period has been just -1.82%, which is lower than 80% of US communities.

Over the last year, Mokena appreciation rates have trailed the rest of the nation. In the last twelve months, Mokena's appreciation rate has been 2.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mokena were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Mokena's latest annual appreciation rate is higher than 50% 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 village. Individual neighborhoods within Mokena differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mokena - 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 Mokena real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$293,380

Mokena, IL HOME PRICES

Value Range
> $1,074,000 0.1
$805,001 - $1,074,000 0.5
$537,001 - $805,000 3.9
$429,001 - $537,000 10.4
$322,001 - $429,000 25.7
$215,001 - $322,000 36.6
$107,001 - $215,000 18.6
$54,001 - $107,000 2.2
$0 - $54,000 2.0

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
16.8815188093285 10.253164556962

Number Of Homes And Apartments:
6,448

Mokena 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
19.85% 1.06% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,193 / per month

Homeownership Rate

Homeownership
Owners 92.27
Renters 7.73
Vacant 4.08

Housing Market Details

 

Age of Homes

AGE OF Mokena HOMES
2000 or Newer 27.9
1970 - 1999 60.6
1940 - 1969 9.2
1939 or Older 2.3

Types of Homes

TYPE OF Mokena HOMES
Single-Family 65.5
Townhomes 22.5
Small Apt. Buildings 4.9
Apt. Complexes 7.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mokena HOMES
No Bedroom 0.00
1 Bedroom 3.06
2 Bedrooms 21.15
3 Bedrooms 39.74
4 Bedrooms 28.27
5 or more bedrooms 7.78