Normal, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Normal Neighborhoods Since 2000




Normal, 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

Normal Housing Market Information

With 54,373 people, 19,070 houses or apartments, and a median cost of homes of $158,524, Normal 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 Normal, accounting for 49.22% of the town's housing units. Other types of housing that are prevalent in Normal include large apartment complexes or high rise apartments ( 33.22%), duplexes, homes converted to apartments or other small apartment buildings ( 8.02%), and a few row houses and other attached homes ( 6.67%).

The most prevalent building size and type in Normal are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 50.79% owning and 49.21% renting.

There is a lot of housing in Normal 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 Normal built between 2000 and later ( 22.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.43%). There's also some housing in Normal built before 1939 ( 4.98%).

Normal Home Appreciation Rates

Real estate appreciation rates in Normal's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.14% during the period.

Over the last year, Normal appreciation rates have trailed the rest of the nation. In the last twelve months, Normal's appreciation rate has been -0.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Normal were at -0.17%, which equates to an annual appreciation rate of -0.67%.

Relative to Illinois, our data show that Normal's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Normal differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Normal - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Normal real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$158,524

Normal, IL HOME PRICES

Value Range
> $1,002,000 0.1
$751,001 - $1,002,000 0.1
$500,001 - $751,000 0.4
$400,001 - $500,000 0.6
$300,001 - $400,000 5.5
$200,001 - $300,000 20.8
$100,001 - $200,000 59.1
$50,001 - $100,000 7.8
$0 - $50,000 5.6

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
46.3377475682644 38.4810126582278

Number Of Homes And Apartments:
19,070

Normal 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
19.77% 1.05% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$956 / per month

Homeownership Rate

Homeownership
Owners 50.79
Renters 49.21
Vacant 8.82

Housing Market Details

 

Age of Homes

AGE OF Normal HOMES
2000 or Newer 22.7
1970 - 1999 51.9
1940 - 1969 20.4
1939 or Older 5.0

Types of Homes

TYPE OF Normal HOMES
Single-Family 49.2
Townhomes 6.7
Small Apt. Buildings 8.0
Apt. Complexes 33.2
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Normal HOMES
No Bedroom 2.55
1 Bedroom 9.62
2 Bedrooms 24.70
3 Bedrooms 34.14
4 Bedrooms 24.84
5 or more bedrooms 4.15