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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 33,223, 13,964 total housing units (homes and apartments), and a median house value of $113,855, house prices in Pekin are solidly below the national average.
Single-family detached homes are the single most common housing type in Pekin, accounting for 72.76% of the city's housing units. Other types of housing that are prevalent in Pekin include large apartment complexes or high rise apartments ( 15.66%), duplexes, homes converted to apartments or other small apartment buildings ( 8.24%), and a few row houses and other attached homes ( 2.96%).
The most prevalent building size and type in Pekin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.92% owning and 35.08% renting.
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. Pekin's housing was primarily built during this period, from the '40s through the '60s. A full 43.38% of the city's housing hails from this era. Other housing ages represented in Pekin include homes built between 1970-1999 ( 29.33%) and housing constructed before 1939 ( 21.16%). There's also some housing in Pekin built between 2000 and later ( 6.13%).
Real estate appreciation rates in Pekin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.
Over the last year, Pekin appreciation rates have trailed the rest of the nation. In the last twelve months, Pekin's appreciation rate has been -0.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pekin were at -1.28%, which equates to an annual appreciation rate of -5.02%.
Notably, Pekin's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Pekin'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 city. Individual neighborhoods within Pekin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pekin - 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 Pekin real estate investment or home purchase decisions.
|$755,001 - $1,006,000||0.1|
|$503,001 - $755,000||0.2|
|$403,001 - $503,000||0.5|
|$302,001 - $403,000||1.5|
|$201,001 - $302,000||6.1|
|$101,001 - $201,000||39.2|
|$51,001 - $101,000||44.8|
|$0 - $51,000||7.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Pekin HOMES|
|2000 or Newer||6.1|
|1970 - 1999||29.3|
|1940 - 1969||43.4|
|1939 or Older||21.2|
|TYPE OF Pekin HOMES|
|Small Apt. Buildings||8.2|
|SIZE OF Pekin HOMES|
|5 or more bedrooms||2.57|