Paxton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Paxton, IL Real Estate Data


Paxton Housing Market Information

With 4,357 people, 1,763 houses or apartments, and a median cost of homes of $96,408, house prices in Paxton are solidly below the national average.

Single-family detached homes are the single most common housing type in Paxton, accounting for 83.83% of the city's housing units. Other types of housing that are prevalent in Paxton include large apartment complexes or high rise apartments ( 8.88%), duplexes, homes converted to apartments or other small apartment buildings ( 5.79%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Paxton. Owner-occupied housing accounts for 73.71% of Paxton's homes, and 59.71% have either three or four bedrooms, which is average sized relative to America.

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. Paxton's housing was primarily built during this period, from the '40s through the '60s. A full 36.00% of the city's housing hails from this era. Other housing ages represented in Paxton include homes built between 1970-1999 ( 30.11%) and housing constructed before 1939 ( 26.86%). There's also some housing in Paxton built between 2000 and later ( 7.02%).

Paxton Home Appreciation Rates

Appreciation rates for homes in Paxton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.58%, which ranks in the top 50% nationwide. This equates to an annual average Paxton house appreciation rate of 0.45%.

Over the last year, Paxton appreciation rates have trailed the rest of the nation. In the last twelve months, Paxton's appreciation rate has been 4.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Paxton were at 0.52%, which equates to an annual appreciation rate of 2.10%.

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

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

Average Home Values

 

Median Home Value:
$96,408

Paxton, IL HOME PRICES

Value Range
> $1,044,000 0.0
$783,001 - $1,044,000 0.5
$522,001 - $783,000 0.3
$417,001 - $522,000 0.0
$313,001 - $417,000 0.6
$209,001 - $313,000 3.1
$104,001 - $209,000 38.3
$52,001 - $104,000 49.4
$0 - $52,000 7.8

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
81.1647244832231 76.0759493670886

Number Of Homes And Apartments:
1,763

Rent & Ownership

 

Average Market Rent:
$696 / per month

Homeownership Rate

Homeownership
Owners 73.71
Renters 26.29
Vacant 8.94

Housing Market Details

 

Age of Homes

AGE OF Paxton HOMES
2000 or Newer 7.0
1970 - 1999 30.1
1940 - 1969 36.0
1939 or Older 26.9

Types of Homes

TYPE OF Paxton HOMES
Single-Family 83.8
Townhomes 0.6
Small Apt. Buildings 5.8
Apt. Complexes 8.9
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Paxton HOMES
No Bedroom 2.01
1 Bedroom 10.69
2 Bedrooms 24.74
3 Bedrooms 46.54
4 Bedrooms 13.17
5 or more bedrooms 2.84

Paxton 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
27.14% 1.42% 5 3
* 10 is highest

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