Rock Falls, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rock Falls Neighborhoods Since 2000




Rock Falls, 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

Rock Falls Housing Market Information

With a population of 9,087, 3,935 total housing units (homes and apartments), and a median house value of $74,041, house prices in Rock Falls 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 Rock Falls, accounting for 75.38% of the city's housing units. Other types of housing that are prevalent in Rock Falls include large apartment complexes or high rise apartments ( 10.28%), duplexes, homes converted to apartments or other small apartment buildings ( 8.89%), and a few mobile homes or trailers ( 3.79%).

Dwellings in Rock Falls tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 48.55% of the homes in Rock Falls have two or fewer bedrooms.

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. Rock Falls's housing was primarily built during this period, from the '40s through the '60s. A full 49.95% of the city's housing hails from this era. Other housing ages represented in Rock Falls include homes built between 1970-1999 ( 28.94%) and housing constructed before 1939 ( 16.88%). There's also some housing in Rock Falls built between 2000 and later ( 4.23%).

Rock Falls Home Appreciation Rates

Real estate appreciation rates in Rock Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.

Over the last year, Rock Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Rock Falls's appreciation rate has been 2.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rock Falls were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Rock Falls's latest annual appreciation rate is higher than 50% 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 Rock Falls differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rock Falls - 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 Rock Falls real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$74,041

Rock Falls, IL HOME PRICES

Value Range
> $1,026,000 0.0
$770,001 - $1,026,000 0.3
$513,001 - $770,000 0.3
$410,001 - $513,000 0.3
$308,001 - $410,000 0.5
$205,001 - $308,000 2.1
$102,001 - $205,000 20.1
$51,001 - $102,000 53.2
$0 - $51,000 23.2

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
93.5661549279269 92.9113924050633

Number Of Homes And Apartments:
3,935

Rock Falls 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
11.37% 0.63% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$760 / per month

Homeownership Rate

Homeownership
Owners 67.16
Renters 32.84
Vacant 9.12

Housing Market Details

 

Age of Homes

AGE OF Rock Falls HOMES
2000 or Newer 4.2
1970 - 1999 28.9
1940 - 1969 50.0
1939 or Older 16.9

Types of Homes

TYPE OF Rock Falls HOMES
Single-Family 75.4
Townhomes 1.7
Small Apt. Buildings 8.9
Apt. Complexes 10.3
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Rock Falls HOMES
No Bedroom 2.70
1 Bedroom 13.09
2 Bedrooms 32.75
3 Bedrooms 37.92
4 Bedrooms 10.25
5 or more bedrooms 3.28