Morton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morton Neighborhoods Since 2000




Morton, 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

Morton Housing Market Information

With a population of 16,306, 6,592 total housing units (homes and apartments), and a median house value of $228,643, Morton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Morton, accounting for 68.62% of the village's housing units. Other types of housing that are prevalent in Morton include large apartment complexes or high rise apartments ( 13.16%), mobile homes or trailers ( 7.40%), and a few row houses and other attached homes ( 6.14%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morton. Owner-occupied housing accounts for 74.47% of Morton's homes, and 60.83% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Morton 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 Morton built between 1940-1969 ( 33.80%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.73%). There's also some housing in Morton built before 1939 ( 8.91%).

Morton Home Appreciation Rates

Appreciation rates for homes in Morton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.38%, which ranks in the top 40% nationwide. This equates to an annual average Morton house appreciation rate of 0.81%.

Over the last year, Morton appreciation rates have trailed the rest of the nation. In the last twelve months, Morton's appreciation rate has been 1.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morton were at -1.28%, which equates to an annual appreciation rate of -5.02%.

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

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

Average Home Values

 

Median Home Value:
$228,643

Morton, IL HOME PRICES

Value Range
> $1,040,000 1.0
$780,001 - $1,040,000 0.3
$520,001 - $780,000 1.0
$416,001 - $520,000 2.2
$312,001 - $416,000 12.5
$208,001 - $312,000 26.2
$104,001 - $208,000 49.4
$52,001 - $104,000 3.2
$0 - $52,000 4.2

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
26.0400796906129 19.1139240506329

Number Of Homes And Apartments:
6,592

Morton 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
28.26% 1.45% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 74.47
Renters 25.53
Vacant 3.84

Housing Market Details

 

Age of Homes

AGE OF Morton HOMES
2000 or Newer 13.7
1970 - 1999 43.6
1940 - 1969 33.8
1939 or Older 8.9

Types of Homes

TYPE OF Morton HOMES
Single-Family 68.6
Townhomes 6.1
Small Apt. Buildings 4.7
Apt. Complexes 13.2
Mobile Homes 7.4
Other 0.0

Home Size

SIZE OF Morton HOMES
No Bedroom 0.07
1 Bedroom 8.48
2 Bedrooms 25.12
3 Bedrooms 36.53
4 Bedrooms 24.30
5 or more bedrooms 5.50