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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Morris, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Morris, IL Housing Market Trends

With a population of 14,360, 6,258 total housing units (homes and apartments), and a median house value of $290,310, Morris 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 Morris, accounting for 60.27% of the city's housing units. Other types of housing that are prevalent in Morris include large apartment complexes or high rise apartments ( 16.98%), row houses and other attached homes ( 12.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.06%).

The most prevalent building size and type in Morris are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.48% owning and 43.52% renting.

There is a lot of housing in Morris 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 Morris built between 2000 and later ( 22.34%). A lesser amount of the housing stock also hails from before 1939 ( 19.45%). There's also some housing in Morris built between 1940-1969 ( 18.34%).

Morris Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Morris, where house values have increased just 47.63%, which is annualized rate of 3.97%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Morris appreciation rates have trailed the rest of the nation. In the last twelve months, Morris's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morris were at 0.21%, which equates to an annual appreciation rate of 0.86%.

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

Average Home Values

Median Home Value

$290,310

Morris, IL Home Prices
> $1,164,000
$873,001 - $1,164,000
$582,001 - $873,000
$465,001 - $582,000
$349,001 - $465,000
$233,001 - $349,000
$117,001 - $233,000
$58,001 - $117,000
$0 - $58,000
0.6%
0.6%
0.1%
0.1%
3.3%
3.3%
7.5%
7.5%
19.2%
19.2%
36.4%
36.4%
31.0%
31.0%
1.2%
1.2%
0.7%
0.7%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

6,258

Morris Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,835 / per month

Homeownership Rate

Owners
Renters
56.5%
56.5%
43.5%
43.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.3%
1.3%
98.7%
98.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.3%
22.3%
39.9%
39.9%
18.3%
18.3%
19.5%
19.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.3%
60.3%
12.3%
12.3%
10.1%
10.1%
17.0%
17.0%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.5%
1.5%
11.7%
11.7%
31.7%
31.7%
39.9%
39.9%
13.3%
13.3%
1.9%
1.9%
0% 100.0%
% of Homes