Monmouth, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monmouth, IL Real Estate Data


Monmouth Housing Market Information

With a population of 9,291, 3,458 total housing units (homes and apartments), and a median house value of $97,449, house prices in Monmouth are solidly below the national average.

Single-family detached homes are the single most common housing type in Monmouth, accounting for 73.81% of the city's housing units. Other types of housing that are prevalent in Monmouth include large apartment complexes or high rise apartments ( 12.21%), duplexes, homes converted to apartments or other small apartment buildings ( 10.08%), and a few mobile homes or trailers ( 3.69%).

The most prevalent building size and type in Monmouth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.06% owning and 43.94% renting.

The housing in Monmouth was primarily built before 1939 ( 41.97%), 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 ( 35.51%), followed by between 1970-1999 ( 17.28%). There's also some housing in Monmouth built between 2000 and later ( 5.25%).

Monmouth Home Appreciation Rates

In the last 10 years, Monmouth has experienced some of the highest home appreciation rates of any community in the nation. Monmouth real estate appreciated 24.69% over the last ten years, which is an average annual home appreciation rate of 2.23%, putting Monmouth in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Monmouth definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Monmouth that despite a nationwide downturn in the housing market, Monmouth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monmouth appreciation rates continue to be some of the highest in America, at 5.97%, which is higher than appreciation rates in 73.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monmouth. Monmouth appreciation rates in the latest quarter were at -0.08%, which equates to an annual appreciation rate of -0.30%.

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

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

Average Home Values

 

Median Home Value:
$97,449

Monmouth, IL HOME PRICES

Value Range
> $1,153,000 0.0
$865,001 - $1,153,000 0.0
$577,001 - $865,000 0.0
$461,001 - $577,000 2.0
$346,001 - $461,000 1.0
$231,001 - $346,000 6.8
$115,001 - $231,000 25.3
$58,001 - $115,000 43.6
$0 - $58,000 21.3

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
80.4093224805294 75.6962025316456

Number Of Homes And Apartments:
3,458

Rent & Ownership

 

Average Market Rent:
$810 / per month

Homeownership Rate

Homeownership
Owners 56.06
Renters 43.94
Vacant 8.78

Housing Market Details

 

Age of Homes

AGE OF Monmouth HOMES
2000 or Newer 5.2
1970 - 1999 17.3
1940 - 1969 35.5
1939 or Older 42.0

Types of Homes

TYPE OF Monmouth HOMES
Single-Family 73.8
Townhomes 0.0
Small Apt. Buildings 10.1
Apt. Complexes 12.2
Mobile Homes 3.7
Other 0.2

Home Size

SIZE OF Monmouth HOMES
No Bedroom 6.28
1 Bedroom 10.74
2 Bedrooms 31.55
3 Bedrooms 35.98
4 Bedrooms 13.58
5 or more bedrooms 1.87

Monmouth 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
48.31% 2.35% 9 6
* 10 is highest

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Zip Codes in Monmouth, IL