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 about Scout's Real Estate Data
With 12,122 people, 5,240 houses or apartments, and a median cost of homes of $131,186, house prices in Rantoul are some of the most affordable in Illinois as well as the nation.
Single-family detached homes are the single most common housing type in Rantoul, accounting for 52.11% of the village's housing units. Other types of housing that are prevalent in Rantoul include duplexes, homes converted to apartments or other small apartment buildings ( 17.22%), large apartment complexes or high rise apartments ( 16.33%), and a few row houses and other attached homes ( 9.29%).
The most prevalent building size and type in Rantoul are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 51.21% owning and 48.79% 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. Rantoul's housing was primarily built during this period, from the '40s through the '60s. A full 50.61% of the village's housing hails from this era. Other housing ages represented in Rantoul include homes built between 1970-1999 ( 30.00%) and housing constructed between 2000 and later ( 12.19%). There's also some housing in Rantoul built before 1939 ( 7.20%).
Vacant housing appears to be an issue in Rantoul. Fully 13.82% of the housing stock is classified as vacant. Left unchecked, vacant Rantoul homes and apartments can be a drag on the real estate market, holding Rantoul 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.
Rantoul's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rantoul during the period has been just 4.68%, which is lower than 80% of US communities.
Appreciation rates are so strong in Rantoul that despite a nationwide downturn in the housing market, Rantoul real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rantoul appreciation rates continue to be some of the highest in America, at 6.82%, which is higher than appreciation rates in 73.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rantoul. Rantoul appreciation rates in the latest quarter were at 0.81%, which equates to an annual appreciation rate of 3.27%.
Relative to Illinois, our data show that Rantoul's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.
$131,186
for Illinois
for nation
5,240
$1,111 / per month