Petersburg, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Petersburg, 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

Petersburg Housing Market Information

With a population of 2,190, 1,010 total housing units (homes and apartments), and a median house value of $164,805, Petersburg 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 Petersburg, accounting for 70.64% of the city's housing units. Other types of housing that are prevalent in Petersburg include large apartment complexes or high rise apartments ( 13.17%), duplexes, homes converted to apartments or other small apartment buildings ( 12.81%), and a few row houses and other attached homes ( 2.22%).

People in Petersburg primarily live in small (one, two or no bedroom) single-family detached homes. Petersburg has a mixture of owner-occupied and renter-occupied housing.

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. Petersburg's housing was primarily built during this period, from the '40s through the '60s. A full 33.63% of the city's housing hails from this era. Other housing ages represented in Petersburg include homes built before 1939 ( 31.14%) and housing constructed between 1970-1999 ( 26.42%). There's also some housing in Petersburg built between 2000 and later ( 8.81%).

Vacant housing appears to be an issue in Petersburg. Fully 10.14% of the housing stock is classified as vacant. Left unchecked, vacant Petersburg homes and apartments can be a drag on the real estate market, holding Petersburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Petersburg Home Appreciation Rates

Appreciation rates for homes in Petersburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.91%, which ranks in the top 30% nationwide. This equates to an annual average Petersburg house appreciation rate of 1.31%.

Over the last year, Petersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Petersburg's appreciation rate has been 1.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Petersburg were at -0.16%, which equates to an annual appreciation rate of -0.66%.

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

Average Home Values

 

Median Home Value:
$164,805

Petersburg, IL HOME PRICES

Value Range
> $1,076,000 0.0
$807,001 - $1,076,000 0.0
$538,001 - $807,000 0.0
$430,001 - $538,000 1.8
$323,001 - $430,000 7.9
$215,001 - $323,000 18.5
$108,001 - $215,000 40.0
$54,001 - $108,000 26.4
$0 - $54,000 5.5

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
43.7067854213055 35.3164556962025

Number Of Homes And Apartments:
1,010

Petersburg 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
39.48% 1.95% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$892 / per month

Homeownership Rate

Homeownership
Owners 51.54
Renters 48.46
Vacant 10.14

Housing Market Details

 

Age of Homes

AGE OF Petersburg HOMES
2000 or Newer 8.8
1970 - 1999 26.4
1940 - 1969 33.6
1939 or Older 31.1

Types of Homes

TYPE OF Petersburg HOMES
Single-Family 70.6
Townhomes 2.2
Small Apt. Buildings 12.8
Apt. Complexes 13.2
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Petersburg HOMES
No Bedroom 0.36
1 Bedroom 15.93
2 Bedrooms 37.90
3 Bedrooms 34.70
4 Bedrooms 9.52
5 or more bedrooms 1.60

Popular Neighborhoods in Petersburg

Zip Codes in Petersburg, IL