Mount Sterling, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mount Sterling, 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

Mount Sterling Housing Market Information

With 1,968 people, 866 houses or apartments, and a median cost of homes of $82,018, house prices in Mount Sterling are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Mount Sterling, accounting for 72.91% of the city's housing units. Other types of housing that are prevalent in Mount Sterling include large apartment complexes or high rise apartments ( 11.95%), duplexes, homes converted to apartments or other small apartment buildings ( 8.96%), and a few mobile homes or trailers ( 5.77%).

Dwellings in Mount Sterling tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.88% of the homes in Mount Sterling have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mount Sterling's housing was primarily built during this period, from the '40s through the '60s. A full 44.70% of the city's housing hails from this era. Other housing ages represented in Mount Sterling include homes built before 1939 ( 30.07%) and housing constructed between 1970-1999 ( 21.11%). There's also some housing in Mount Sterling built between 2000 and later ( 4.12%).

Vacant housing appears to be an issue in Mount Sterling. Fully 10.81% of the housing stock is classified as vacant. Left unchecked, vacant Mount Sterling homes and apartments can be a drag on the real estate market, holding Mount Sterling real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Mount Sterling Home Appreciation Rates

Appreciation rates for homes in Mount Sterling have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.72%, which ranks in the top 30% nationwide. This equates to an annual average Mount Sterling house appreciation rate of 0.93%.

Over the last year, Mount Sterling appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Sterling's appreciation rate has been 2.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Sterling were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Mount Sterling's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$82,018

Mount Sterling, IL HOME PRICES

Value Range
> $1,067,000 0.0
$801,001 - $1,067,000 0.0
$534,001 - $801,000 0.7
$427,001 - $534,000 0.0
$320,001 - $427,000 0.7
$214,001 - $320,000 4.9
$107,001 - $214,000 18.2
$53,001 - $107,000 54.0
$0 - $53,000 21.5

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
89.1714520098441 86.5822784810127

Number Of Homes And Apartments:
866

Mount Sterling 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
47.66% 2.29% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$541 / per month

Homeownership Rate

Homeownership
Owners 65.42
Renters 34.58
Vacant 10.81

Housing Market Details

 

Age of Homes

AGE OF Mount Sterling HOMES
2000 or Newer 4.1
1970 - 1999 21.1
1940 - 1969 44.7
1939 or Older 30.1

Types of Homes

TYPE OF Mount Sterling HOMES
Single-Family 72.9
Townhomes 0.4
Small Apt. Buildings 9.0
Apt. Complexes 11.9
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Mount Sterling HOMES
No Bedroom 4.12
1 Bedroom 11.84
2 Bedrooms 34.91
3 Bedrooms 36.97
4 Bedrooms 11.12
5 or more bedrooms 1.03

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Zip Codes in Mount Sterling, IL