Princeton, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Princeton, 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

Princeton Housing Market Information

With 7,594 people, 3,604 houses or apartments, and a median cost of homes of $117,868, house prices in Princeton are solidly below the national average.

Single-family detached homes are the single most common housing type in Princeton, accounting for 71.70% of the city's housing units. Other types of housing that are prevalent in Princeton include duplexes, homes converted to apartments or other small apartment buildings ( 11.98%), large apartment complexes or high rise apartments ( 11.11%), and a few mobile homes or trailers ( 2.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Princeton. Owner-occupied housing accounts for 65.72% of Princeton's homes, and 54.26% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Princeton 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 Princeton built between 1940-1969 ( 30.94%). A lesser amount of the housing stock also hails from before 1939 ( 29.75%). There's also some housing in Princeton built between 2000 and later ( 8.17%).

Vacant housing appears to be an issue in Princeton. Fully 10.21% of the housing stock is classified as vacant. Left unchecked, vacant Princeton homes and apartments can be a drag on the real estate market, holding Princeton 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.

Princeton Home Appreciation Rates

Princeton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Princeton during the period has been just -1.06%, which is lower than 70% of US communities.

Over the last year, Princeton appreciation rates have trailed the rest of the nation. In the last twelve months, Princeton's appreciation rate has been 1.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Princeton were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Princeton's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$117,868

Princeton, IL HOME PRICES

Value Range
> $1,037,000 0.4
$778,001 - $1,037,000 0.0
$518,001 - $778,000 0.2
$415,001 - $518,000 0.5
$311,001 - $415,000 0.8
$207,001 - $311,000 10.6
$104,001 - $207,000 51.2
$52,001 - $104,000 26.4
$0 - $52,000 10.0

Average for IL
Low for Nation

Value Relative to Nation Value Relative to State
66.7408883159498 57.8481012658228

Number Of Homes And Apartments:
3,604

Princeton 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
7.64% 0.43% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$721 / per month

Homeownership Rate

Homeownership
Owners 65.72
Renters 34.28
Vacant 10.21

Housing Market Details

 

Age of Homes

AGE OF Princeton HOMES
2000 or Newer 8.2
1970 - 1999 31.1
1940 - 1969 30.9
1939 or Older 29.7

Types of Homes

TYPE OF Princeton HOMES
Single-Family 71.7
Townhomes 2.5
Small Apt. Buildings 12.0
Apt. Complexes 11.1
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Princeton HOMES
No Bedroom 4.56
1 Bedroom 13.38
2 Bedrooms 25.29
3 Bedrooms 39.96
4 Bedrooms 14.30
5 or more bedrooms 2.52

Popular Neighborhoods in Princeton

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Zip Codes in Princeton, IL