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 a population of 146,713, 61,304 total housing units (homes and apartments), and a median house value of $120,653, 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 59.45% 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 ( 17.90%), large apartment complexes or high rise apartments ( 17.17%), and a few row houses and other attached homes ( 4.96%).
People in Rockford primarily live in small (one, two or no bedroom) single-family detached homes. Rockford 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. Rockford's housing was primarily built during this period, from the '40s through the '60s. A full 39.64% of the city's housing hails from this era. Other housing ages represented in Rockford include homes built between 1970-1999 ( 31.21%) and housing constructed before 1939 ( 22.10%). There's also some housing in Rockford built between 2000 and later ( 7.04%).
Rockford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rockford during the period has been just 5.13%, which is lower than 70% of US communities.
Over the last year, Rockford appreciation rates have trailed the rest of the nation. In the last twelve months, Rockford's appreciation rate has been 3.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockford were at 8.26%, which equates to an annual appreciation rate of 37.39%.
Importantly, NeighborhoodScout’s exclusive research found that Rockford's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Illinois, our data show that Rockford's latest annual appreciation rate is lower than 60% 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.
$120,653
for Illinois
for nation
61,304
$1,553 / per month