Mokena, IL Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mokena, IL Housing Market Trends

With a population of 20,159, 7,190 total housing units (homes and apartments), and a median house value of $322,026, 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 68.16% of the village's housing units. Other types of housing that are prevalent in Mokena include row houses and other attached homes ( 20.85%), large apartment complexes or high rise apartments ( 6.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.42%).

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 89.64% of Mokena's homes, and 68.32% 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 ( 34.37%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.08%). There's also some housing in Mokena built before 1939 ( 2.29%).

Mokena Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Mokena, where house values have increased just 18.53%, which is annualized rate of 1.71%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 4.23%, 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 1.88%, which equates to an annual appreciation rate of 7.74%.

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

Relative to Illinois, our data show that Mokena's latest annual appreciation rate is lower than 80% 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:
$322,026

Mokena, IL HOME PRICES

> $1,075,000
0.6%
0.6%
$806,001 - $1,075,000
0.2%
0.2%
$537,001 - $806,000
4.4%
4.4%
$430,001 - $537,000
11.6%
11.6%
$322,001 - $430,000
32.0%
32.0%
$215,001 - $322,000
35.1%
35.1%
$107,001 - $215,000
14.0%
14.0%
$54,001 - $107,000
0.8%
0.8%
$0 - $54,000
1.4%
1.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
7,190

Mokena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
34.02% 1.37%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,689 / per month

Homeownership Rate

Owners
89.6%
89.6%
Renters
10.4%
10.4%
Vacant
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
34.4%
34.4%
1970 - 1999
57.3%
57.3%
1940 - 1969
6.1%
6.1%
1939 or Older
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.2%
68.2%
Townhomes
20.8%
20.8%
Small Apt. Buildings
4.4%
4.4%
Apt. Complexes
6.6%
6.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
1.9%
1.9%
2 Bedrooms
20.8%
20.8%
3 Bedrooms
37.9%
37.9%
4 Bedrooms
30.4%
30.4%
5 or more bedrooms
8.6%
8.6%
0.0% 100.0%
% OF HOMES