Watseka, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Watseka, IL Real Estate Data


Watseka Housing Market Information

With 5,070 people, 2,480 houses or apartments, and a median cost of homes of $82,754, house prices in Watseka 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 Watseka, accounting for 68.34% of the city's housing units. Other types of housing that are prevalent in Watseka include large apartment complexes or high rise apartments ( 15.89%), duplexes, homes converted to apartments or other small apartment buildings ( 6.09%), and a few row houses and other attached homes ( 6.05%).

Dwellings in Watseka tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 53.21% of the homes in Watseka 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. Watseka's housing was primarily built during this period, from the '40s through the '60s. A full 39.77% of the city's housing hails from this era. Other housing ages represented in Watseka include homes built between 1970-1999 ( 32.67%) and housing constructed before 1939 ( 19.42%). There's also some housing in Watseka built between 2000 and later ( 8.14%).

Vacant housing appears to be an issue in Watseka. Fully 10.66% of the housing stock is classified as vacant. Left unchecked, vacant Watseka homes and apartments can be a drag on the real estate market, holding Watseka 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.

Watseka Home Appreciation Rates

Real estate appreciation rates in Watseka's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.28% during the period.

NeighborhoodScout's data show that during the latest twelve months, Watseka's appreciation rate, at 4.68%, has been at or slightly above the national average. In the latest quarter, Watseka's appreciation rate has been -0.08%, which annualizes to a rate of -0.30%.

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

Relative to Illinois, our data show that Watseka's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$82,754

Watseka, IL HOME PRICES

Value Range
> $1,055,000 0.0
$792,001 - $1,055,000 0.0
$527,001 - $792,000 0.9
$422,001 - $527,000 0.0
$316,001 - $422,000 0.2
$211,001 - $316,000 2.7
$105,001 - $211,000 23.0
$53,001 - $105,000 48.0
$0 - $53,000 25.3

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
89.7347309246355 87.9746835443038

Number Of Homes And Apartments:
2,480

Rent & Ownership

 

Average Market Rent:
$799 / per month

Homeownership Rate

Homeownership
Owners 66.47
Renters 33.53
Vacant 10.66

Housing Market Details

 

Age of Homes

AGE OF Watseka HOMES
2000 or Newer 8.1
1970 - 1999 32.7
1940 - 1969 39.8
1939 or Older 19.4

Types of Homes

TYPE OF Watseka HOMES
Single-Family 68.3
Townhomes 6.1
Small Apt. Buildings 6.1
Apt. Complexes 15.9
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Watseka HOMES
No Bedroom 3.42
1 Bedroom 9.22
2 Bedrooms 40.56
3 Bedrooms 32.64
4 Bedrooms 12.64
5 or more bedrooms 1.51

Watseka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
20.64% 1.11% 4 2
* 10 is highest

Popular Neighborhoods in Watseka

Zip Codes in Watseka, IL