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




Highest
Lowest

Highest Appreciating O'Fallon Neighborhoods Since 2000




O'Fallon, 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

O'Fallon Housing Market Information

With 29,002 people, 10,628 houses or apartments, and a median cost of homes of $164,740, O'Fallon 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 O'Fallon, accounting for 72.99% of the city's housing units. Other types of housing that are prevalent in O'Fallon include large apartment complexes or high rise apartments ( 13.35%), duplexes, homes converted to apartments or other small apartment buildings ( 5.62%), and a few row houses and other attached homes ( 4.41%).

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 70.51% of O'Fallon's homes, and 62.13% 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 ( 28.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.18%). There's also some housing in O'Fallon built before 1939 ( 4.82%).

O'Fallon Home Appreciation Rates

O'Fallon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in O'Fallon during the period has been just -0.98%, which is lower than 70% of US communities.

Over the last year, O'Fallon appreciation rates have trailed the rest of the nation. In the last twelve months, O'Fallon's appreciation rate has been 2.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in O'Fallon were at 1.03%, which equates to an annual appreciation rate of 4.19%.

Relative to Illinois, our data show that O'Fallon's latest annual appreciation rate is lower 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:
$164,740

O'Fallon, IL HOME PRICES

Value Range
> $1,047,000 1.1
$785,001 - $1,047,000 0.4
$523,001 - $785,000 1.7
$419,001 - $523,000 2.8
$314,001 - $419,000 7.0
$209,001 - $314,000 28.0
$105,001 - $209,000 41.6
$53,001 - $105,000 13.0
$0 - $53,000 4.3

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
43.7390132427048 35.5063291139241

Number Of Homes And Apartments:
10,628

O'Fallon 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
18.83% 1.01% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,174 / per month

Homeownership Rate

Homeownership
Owners 70.51
Renters 29.49
Vacant 5.04

Housing Market Details

 

Age of Homes

AGE OF O'Fallon HOMES
2000 or Newer 28.2
1970 - 1999 51.8
1940 - 1969 15.2
1939 or Older 4.8

Types of Homes

TYPE OF O'Fallon HOMES
Single-Family 73.0
Townhomes 4.4
Small Apt. Buildings 5.6
Apt. Complexes 13.3
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF O'Fallon HOMES
No Bedroom 0.88
1 Bedroom 6.00
2 Bedrooms 23.50
3 Bedrooms 31.02
4 Bedrooms 31.11
5 or more bedrooms 7.50