Morris, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Morris Neighborhoods Since 2000




Morris, 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

Morris Housing Market Information

With a population of 14,363, 5,718 total housing units (homes and apartments), and a median house value of $218,482, 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 59.78% of the city's housing units. Other types of housing that are prevalent in Morris include large apartment complexes or high rise apartments ( 17.12%), duplexes, homes converted to apartments or other small apartment buildings ( 12.27%), and a few row houses and other attached homes ( 9.84%).

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 59.54% owning and 40.46% 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 ( 22.59%). A lesser amount of the housing stock also hails from before 1939 ( 17.67%). There's also some housing in Morris built between 2000 and later ( 16.47%).

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 -1.45%, which is lower than 80% of US communities.

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 1.87%, 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 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$218,482

Morris, IL HOME PRICES

Value Range
> $1,078,000 0.0
$809,001 - $1,078,000 0.0
$539,001 - $809,000 1.6
$431,001 - $539,000 3.3
$323,001 - $431,000 9.9
$216,001 - $323,000 30.4
$108,001 - $216,000 47.2
$54,001 - $108,000 6.0
$0 - $54,000 1.5

High for IL
High for Nation

Value Relative to Nation Value Relative to State
27.9854681823509 20.5063291139241

Number Of Homes And Apartments:
5,718

Morris 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
17.32% 0.93% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,266 / per month

Homeownership Rate

Homeownership
Owners 59.54
Renters 40.46
Vacant 8.06

Housing Market Details

 

Age of Homes

AGE OF Morris HOMES
2000 or Newer 16.5
1970 - 1999 43.3
1940 - 1969 22.6
1939 or Older 17.7

Types of Homes

TYPE OF Morris HOMES
Single-Family 59.8
Townhomes 9.8
Small Apt. Buildings 12.3
Apt. Complexes 17.1
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Morris HOMES
No Bedroom 3.75
1 Bedroom 12.57
2 Bedrooms 26.07
3 Bedrooms 42.85
4 Bedrooms 11.32
5 or more bedrooms 3.44