Rantoul, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rantoul Neighborhoods Since 2000




Rantoul, 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

Rantoul Housing Market Information

With 13,008 people, 5,015 houses or apartments, and a median cost of homes of $84,657, 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 52.92% of the village's housing units. Other types of housing that are prevalent in Rantoul include large apartment complexes or high rise apartments ( 19.42%), row houses and other attached homes ( 11.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.12%).

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 48.23% owning and 51.77% 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 54.63% of the village's housing hails from this era. Other housing ages represented in Rantoul include homes built between 1970-1999 ( 32.48%) and housing constructed before 1939 ( 9.30%). There's also some housing in Rantoul built between 2000 and later ( 3.58%).

Vacant housing appears to be an issue in Rantoul. Fully 17.60% 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 Home Appreciation Rates

Homes have actually lost value in Rantoul over the last then years, as home values have seen a decline of 19.64% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Rantoul home appreciation rates at -2.09%, which equates to an annual appreciation rate of -8.09%.

Over the last year, Rantoul appreciation rates have trailed the rest of the nation. In the last twelve months, Rantoul's appreciation rate has been -4.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rantoul were at -2.09%, which equates to an annual appreciation rate of -8.09%.

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

Relative to Illinois, our data show that Rantoul's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$84,657

Rantoul, IL HOME PRICES

Value Range
> $977,000 0.0
$733,001 - $977,000 0.0
$489,001 - $733,000 0.0
$391,001 - $489,000 0.2
$293,001 - $391,000 0.4
$195,001 - $293,000 1.8
$98,001 - $195,000 33.0
$49,001 - $98,000 40.6
$0 - $49,000 23.9

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.6010781671159 84.3037974683544

Number Of Homes And Apartments:
5,015

Rantoul 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
-8.23% -0.50% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 48.23
Renters 51.77
Vacant 17.60

Housing Market Details

 

Age of Homes

AGE OF Rantoul HOMES
2000 or Newer 3.6
1970 - 1999 32.5
1940 - 1969 54.6
1939 or Older 9.3

Types of Homes

TYPE OF Rantoul HOMES
Single-Family 52.9
Townhomes 11.0
Small Apt. Buildings 10.1
Apt. Complexes 19.4
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Rantoul HOMES
No Bedroom 5.04
1 Bedroom 9.55
2 Bedrooms 25.83
3 Bedrooms 47.14
4 Bedrooms 9.92
5 or more bedrooms 2.51

Zip Codes in Rantoul, IL