Morris, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Morris, IL Real Estate Data


Morris Housing Market Information

With a population of 14,363, 5,455 total housing units (homes and apartments), and a median house value of $219,273, Morris real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Morris, accounting for 58.98% of the city's housing units. Other types of housing that are prevalent in Morris include large apartment complexes or high rise apartments ( 17.43%), row houses and other attached homes ( 12.59%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.45%).

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 59.21% owning and 40.79% 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 1940-1969 ( 23.19%). A lesser amount of the housing stock also hails from before 1939 ( 18.95%). There's also some housing in Morris built between 2000 and later ( 15.40%).

Morris Home Appreciation Rates

Morris's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Morris during the period has been just -1.03%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Morris's appreciation rate, at 5.23%, has been at or slightly above the national average. In the latest quarter, Morris's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Illinois, our data show that Morris's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$219,273

Morris, IL HOME PRICES

Value Range
> $1,111,000 0.1
$833,001 - $1,111,000 0.1
$556,001 - $833,000 1.7
$445,001 - $556,000 4.1
$333,001 - $445,000 9.9
$222,001 - $333,000 28.8
$111,001 - $222,000 48.9
$55,001 - $111,000 5.2
$0 - $55,000 1.2

High for IL
High for Nation

Value Relative to Nation Value Relative to State
28.7462669087076 21.3924050632911

Number Of Homes And Apartments:
5,455

Rent & Ownership

 

Average Market Rent:
$1,221 / per month

Homeownership Rate

Homeownership
Owners 59.21
Renters 40.79
Vacant 8.67

Housing Market Details

 

Age of Homes

AGE OF Morris HOMES
2000 or Newer 15.4
1970 - 1999 42.5
1940 - 1969 23.2
1939 or Older 19.0

Types of Homes

TYPE OF Morris HOMES
Single-Family 59.0
Townhomes 12.6
Small Apt. Buildings 10.4
Apt. Complexes 17.4
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Morris HOMES
No Bedroom 3.31
1 Bedroom 10.45
2 Bedrooms 30.09
3 Bedrooms 40.82
4 Bedrooms 12.52
5 or more bedrooms 2.81

Morris 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
21.53% 1.15% 4 2
* 10 is highest