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
With a population of 147,051, 58,939 total housing units (homes and apartments), and a median house value of $87,626, house prices in Rockford 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 Rockford, accounting for 61.02% of the city's housing units. Other types of housing that are prevalent in Rockford include duplexes, homes converted to apartments or other small apartment buildings ( 17.39%), large apartment complexes or high rise apartments ( 16.26%), and a few row houses and other attached homes ( 4.67%).
The most prevalent building size and type in Rockford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.90% owning and 46.10% 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. Rockford's housing was primarily built during this period, from the '40s through the '60s. A full 41.22% of the city's housing hails from this era. Other housing ages represented in Rockford include homes built between 1970-1999 ( 30.31%) and housing constructed before 1939 ( 21.49%). There's also some housing in Rockford built between 2000 and later ( 6.98%).
Vacant housing appears to be an issue in Rockford. Fully 11.13% of the housing stock is classified as vacant. Left unchecked, vacant Rockford homes and apartments can be a drag on the real estate market, holding Rockford 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.
Homes have actually lost value in Rockford over the last then years, as home values have seen a decline of 19.87% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Rockford home appreciation rates at -0.39%, which equates to an annual appreciation rate of -1.55%.
Appreciation rates are so strong in Rockford that despite a nationwide downturn in the housing market, Rockford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rockford appreciation rates continue to be some of the highest in America, at 6.49%, which is higher than appreciation rates in 70.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rockford. Rockford appreciation rates in the latest quarter were at -0.39%, which equates to an annual appreciation rate of -1.55%.
Notably, Rockford's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Rockford's latest annual appreciation rate is higher than 90% 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 Rockford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rockford - 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 Rockford real estate investment or home purchase decisions.
|$829,001 - $1,106,000||0.0|
|$553,001 - $829,000||0.7|
|$442,001 - $553,000||0.4|
|$331,001 - $442,000||1.2|
|$221,001 - $331,000||6.0|
|$110,001 - $221,000||33.7|
|$55,001 - $110,000||43.4|
|$0 - $55,000||14.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
2000 Q1 - 2019 Q1
|* 10 is highest|
|AGE OF Rockford HOMES|
|2000 or Newer||7.0|
|1970 - 1999||30.3|
|1940 - 1969||41.2|
|1939 or Older||21.5|
|TYPE OF Rockford HOMES|
|Small Apt. Buildings||17.4|
|SIZE OF Rockford HOMES|
|5 or more bedrooms||2.93|