Rock Island, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Rock Island Neighborhoods Since 2000




Rock Island, 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 Island Housing Market Information

With 38,620 people, 15,451 houses or apartments, and a median cost of homes of $94,507, house prices in Rock Island are solidly below the national average.

Single-family detached homes are the single most common housing type in Rock Island, accounting for 69.04% of the city's housing units. Other types of housing that are prevalent in Rock Island include large apartment complexes or high rise apartments ( 15.45%), duplexes, homes converted to apartments or other small apartment buildings ( 11.39%), and a few row houses and other attached homes ( 3.45%).

People in Rock Island primarily live in small (one, two or no bedroom) single-family detached homes. Rock Island 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. Rock Island's housing was primarily built during this period, from the '40s through the '60s. A full 43.56% of the city's housing hails from this era. Other housing ages represented in Rock Island include homes built before 1939 ( 35.57%) and housing constructed between 1970-1999 ( 17.84%). There's also some housing in Rock Island built between 2000 and later ( 3.02%).

Vacant housing appears to be an issue in Rock Island. Fully 10.17% of the housing stock is classified as vacant. Left unchecked, vacant Rock Island homes and apartments can be a drag on the real estate market, holding Rock Island 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.

Rock Island Home Appreciation Rates

Appreciation rates for homes in Rock Island have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.08%, which ranks in the top 50% nationwide. This equates to an annual average Rock Island house appreciation rate of 0.21%.

Over the last year, Rock Island appreciation rates have trailed the rest of the nation. In the last twelve months, Rock Island's appreciation rate has been 2.43%, 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 Island were at -0.58%, which equates to an annual appreciation rate of -2.29%.

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

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

Average Home Values

 

Median Home Value:
$94,507

Rock Island, IL HOME PRICES

Value Range
> $1,034,000 0.0
$775,001 - $1,034,000 0.4
$517,001 - $775,000 0.6
$413,001 - $517,000 0.4
$310,001 - $413,000 1.4
$207,001 - $310,000 5.0
$103,001 - $207,000 32.3
$52,001 - $103,000 44.0
$0 - $52,000 15.8

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
81.0734794327903 75.9493670886076

Number Of Homes And Apartments:
15,451

Rock Island 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
27.05% 1.40% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$891 / per month

Homeownership Rate

Homeownership
Owners 60.78
Renters 39.22
Vacant 10.17

Housing Market Details

 

Age of Homes

AGE OF Rock Island HOMES
2000 or Newer 3.0
1970 - 1999 17.8
1940 - 1969 43.6
1939 or Older 35.6

Types of Homes

TYPE OF Rock Island HOMES
Single-Family 69.0
Townhomes 3.5
Small Apt. Buildings 11.4
Apt. Complexes 15.5
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Rock Island HOMES
No Bedroom 2.59
1 Bedroom 11.84
2 Bedrooms 35.49
3 Bedrooms 36.23
4 Bedrooms 10.34
5 or more bedrooms 3.51