Momence, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Momence Neighborhoods Since 2000




Momence, 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

Momence Housing Market Information

With 3,213 people, 964 houses or apartments, and a median cost of homes of $157,496, Momence 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 Momence, accounting for 82.34% of the city's housing units. Other types of housing that are prevalent in Momence include duplexes, homes converted to apartments or other small apartment buildings ( 8.52%), large apartment complexes or high rise apartments ( 8.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Momence. Owner-occupied housing accounts for 68.22% of Momence's homes, and 65.39% 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. Momence's housing was primarily built during this period, from the '40s through the '60s. A full 38.07% of the city's housing hails from this era. Other housing ages represented in Momence include homes built before 1939 ( 34.87%) and housing constructed between 1970-1999 ( 15.53%). There's also some housing in Momence built between 2000 and later ( 11.54%).

Vacant housing appears to be an issue in Momence. Fully 14.46% of the housing stock is classified as vacant. Left unchecked, vacant Momence homes and apartments can be a drag on the real estate market, holding Momence 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.

Momence Home Appreciation Rates

Momence's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Momence during the period has been just -1.27%, which is lower than 70% of US communities.

Over the last year, Momence appreciation rates have trailed the rest of the nation. In the last twelve months, Momence's appreciation rate has been 2.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Momence were at -1.84%, which equates to an annual appreciation rate of -7.15%.

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

Relative to Illinois, our data show that Momence's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$157,496

Momence, IL HOME PRICES

Value Range
> $1,046,000 0.0
$785,001 - $1,046,000 0.3
$523,001 - $785,000 0.5
$419,001 - $523,000 2.4
$314,001 - $419,000 8.5
$209,001 - $314,000 11.3
$105,001 - $209,000 52.2
$52,001 - $105,000 20.0
$0 - $52,000 4.8

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
46.7713582561819 38.9873417721519

Number Of Homes And Apartments:
964

Momence 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
15.40% 0.83% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,071 / per month

Homeownership Rate

Homeownership
Owners 68.22
Renters 31.78
Vacant 14.46

Housing Market Details

 

Age of Homes

AGE OF Momence HOMES
2000 or Newer 11.5
1970 - 1999 15.5
1940 - 1969 38.1
1939 or Older 34.9

Types of Homes

TYPE OF Momence HOMES
Single-Family 82.3
Townhomes 0.8
Small Apt. Buildings 8.5
Apt. Complexes 8.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Momence HOMES
No Bedroom 0.00
1 Bedroom 4.70
2 Bedrooms 27.68
3 Bedrooms 49.51
4 Bedrooms 15.88
5 or more bedrooms 2.22