Monmouth, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Monmouth Neighborhoods Since 2000




Monmouth, 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

Monmouth Housing Market Information

With a population of 9,291, 3,532 total housing units (homes and apartments), and a median house value of $65,800, house prices in Monmouth 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 Monmouth, accounting for 71.89% of the city's housing units. Other types of housing that are prevalent in Monmouth include large apartment complexes or high rise apartments ( 11.23%), duplexes, homes converted to apartments or other small apartment buildings ( 10.84%), and a few mobile homes or trailers ( 3.97%).

People in Monmouth primarily live in small (one, two or no bedroom) single-family detached homes. Monmouth has a mixture of owner-occupied and renter-occupied housing.

The housing in Monmouth was primarily built before 1939 ( 43.02%), making the housing stock in Monmouth some of the oldest overall in America, although there is a range of ages of homes in Monmouth. The next most important housing age is between 1940-1969 ( 36.64%), followed by between 1970-1999 ( 15.61%). There's also some housing in Monmouth built between 2000 and later ( 4.72%).

Monmouth Home Appreciation Rates

Appreciation rates for homes in Monmouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.21%, which ranks in the top 30% nationwide. This equates to an annual average Monmouth house appreciation rate of 1.16%.

Over the last year, Monmouth appreciation rates have trailed the rest of the nation. In the last twelve months, Monmouth's appreciation rate has been -1.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monmouth were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Monmouth's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$65,800

Monmouth, IL HOME PRICES

Value Range
> $1,021,000 0.2
$765,001 - $1,021,000 0.0
$510,001 - $765,000 0.0
$408,001 - $510,000 0.7
$306,001 - $408,000 0.6
$204,001 - $306,000 7.3
$102,001 - $204,000 26.2
$51,001 - $102,000 42.3
$0 - $51,000 22.8

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.5604125161139 95.5696202531646

Number Of Homes And Apartments:
3,532

Monmouth 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
34.36% 1.73% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$668 / per month

Homeownership Rate

Homeownership
Owners 59.37
Renters 40.63
Vacant 8.40

Housing Market Details

 

Age of Homes

AGE OF Monmouth HOMES
2000 or Newer 4.7
1970 - 1999 15.6
1940 - 1969 36.6
1939 or Older 43.0

Types of Homes

TYPE OF Monmouth HOMES
Single-Family 71.9
Townhomes 1.9
Small Apt. Buildings 10.8
Apt. Complexes 11.2
Mobile Homes 4.0
Other 0.2

Home Size

SIZE OF Monmouth HOMES
No Bedroom 7.44
1 Bedroom 9.75
2 Bedrooms 33.77
3 Bedrooms 34.02
4 Bedrooms 12.73
5 or more bedrooms 2.28

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Zip Codes in Monmouth, IL