O'Fallon, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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O'Fallon, IL Real Estate Data


O'Fallon Housing Market Information

With a population of 29,002, 10,525 total housing units (homes and apartments), and a median house value of $198,059, O'Fallon real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in O'Fallon, accounting for 73.32% of the city's housing units. Other types of housing that are prevalent in O'Fallon include large apartment complexes or high rise apartments ( 12.98%), duplexes, homes converted to apartments or other small apartment buildings ( 5.84%), and a few row houses and other attached homes ( 4.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in O'Fallon. Owner-occupied housing accounts for 70.32% of O'Fallon's homes, and 64.18% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in O'Fallon 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 O'Fallon built between 2000 and later ( 28.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.63%). There's also some housing in O'Fallon built before 1939 ( 4.20%).

O'Fallon Home Appreciation Rates

Real estate appreciation rates in O'Fallon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.

NeighborhoodScout's data show that during the latest twelve months, O'Fallon's appreciation rate, at 4.75%, has been at or slightly above the national average. In the latest quarter, O'Fallon's appreciation rate has been 1.28%, which annualizes to a rate of 5.23%.

Relative to Illinois, our data show that O'Fallon's latest annual appreciation rate is higher than 50% 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 city. Individual neighborhoods within O'Fallon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in O'Fallon - 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 O'Fallon real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$198,059

O'Fallon, IL HOME PRICES

Value Range
> $1,066,000 1.5
$800,001 - $1,066,000 0.3
$533,001 - $800,000 1.3
$427,001 - $533,000 3.3
$320,001 - $427,000 7.6
$213,001 - $320,000 28.4
$107,001 - $213,000 40.9
$53,001 - $107,000 12.0
$0 - $53,000 4.8

High for IL
High for Nation

Value Relative to Nation Value Relative to State
33.6768753293904 27.2151898734177

Number Of Homes And Apartments:
10,525

Rent & Ownership

 

Average Market Rent:
$1,308 / per month

Homeownership Rate

Homeownership
Owners 70.32
Renters 29.68
Vacant 4.60

Housing Market Details

 

Age of Homes

AGE OF O'Fallon HOMES
2000 or Newer 28.5
1970 - 1999 50.7
1940 - 1969 16.6
1939 or Older 4.2

Types of Homes

TYPE OF O'Fallon HOMES
Single-Family 73.3
Townhomes 4.5
Small Apt. Buildings 5.8
Apt. Complexes 13.0
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF O'Fallon HOMES
No Bedroom 0.49
1 Bedroom 5.87
2 Bedrooms 21.98
3 Bedrooms 31.85
4 Bedrooms 32.32
5 or more bedrooms 7.48

O'Fallon 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
22.50% 1.20% 4 2
* 10 is highest