Washington, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Washington Neighborhoods Since 2000




Washington, 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

Washington Housing Market Information

With a population of 16,664, 5,927 total housing units (homes and apartments), and a median house value of $190,449, Washington real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Washington, accounting for 77.31% of the city's housing units. Other types of housing that are prevalent in Washington include large apartment complexes or high rise apartments ( 9.40%), row houses and other attached homes ( 7.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Washington. Owner-occupied housing accounts for 79.20% of Washington's homes, and 66.93% have either three or four bedrooms, which is average sized relative to America.

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. Washington's housing was primarily built during this period, from the '40s through the '60s. A full 40.29% of the city's housing hails from this era. Other housing ages represented in Washington include homes built between 2000 and later ( 24.84%) and housing constructed between 1970-1999 ( 24.66%). There's also some housing in Washington built before 1939 ( 10.22%).

Washington Home Appreciation Rates

Appreciation rates for homes in Washington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.26%, which ranks in the top 40% nationwide. This equates to an annual average Washington house appreciation rate of 0.80%.

Over the last year, Washington appreciation rates have trailed the rest of the nation. In the last twelve months, Washington's appreciation rate has been 1.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Washington were at -1.28%, which equates to an annual appreciation rate of -5.02%.

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

Relative to Illinois, our data show that Washington's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$190,449

Washington, IL HOME PRICES

Value Range
> $1,049,000 0.1
$787,001 - $1,049,000 0.1
$525,001 - $787,000 1.4
$420,001 - $525,000 1.6
$315,001 - $420,000 8.3
$209,001 - $315,000 24.8
$105,001 - $209,000 47.6
$53,001 - $105,000 12.6
$0 - $53,000 3.6

High for IL
High for Nation

Value Relative to Nation Value Relative to State
34.8089769131607 26.8354430379747

Number Of Homes And Apartments:
5,927

Washington 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
38.23% 1.89% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$859 / per month

Homeownership Rate

Homeownership
Owners 79.20
Renters 20.80
Vacant 4.91

Housing Market Details

 

Age of Homes

AGE OF Washington HOMES
2000 or Newer 24.8
1970 - 1999 24.7
1940 - 1969 40.3
1939 or Older 10.2

Types of Homes

TYPE OF Washington HOMES
Single-Family 77.3
Townhomes 7.8
Small Apt. Buildings 5.4
Apt. Complexes 9.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Washington HOMES
No Bedroom 0.32
1 Bedroom 6.10
2 Bedrooms 20.99
3 Bedrooms 46.37
4 Bedrooms 20.57
5 or more bedrooms 5.66