Watseka, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Watseka, 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

Watseka Housing Market Information

With 5,070 people, 2,442 houses or apartments, and a median cost of homes of $77,603, 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 67.98% of the city's housing units. Other types of housing that are prevalent in Watseka include large apartment complexes or high rise apartments ( 14.63%), duplexes, homes converted to apartments or other small apartment buildings ( 8.68%), and a few row houses and other attached homes ( 4.50%).

Dwellings in Watseka tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.14% 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 38.08% of the city's housing hails from this era. Other housing ages represented in Watseka include homes built between 1970-1999 ( 33.29%) and housing constructed before 1939 ( 20.39%). There's also some housing in Watseka built between 2000 and later ( 8.25%).

Vacant housing appears to be an issue in Watseka. Fully 12.03% 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 -0.46% during the period.

Over the last year, Watseka appreciation rates have trailed the rest of the nation. In the last twelve months, Watseka's appreciation rate has been 1.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Watseka were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$77,603

Watseka, IL HOME PRICES

Value Range
> $1,037,000 0.0
$778,001 - $1,037,000 0.0
$519,001 - $778,000 0.4
$415,001 - $519,000 0.0
$311,001 - $415,000 0.3
$207,001 - $311,000 3.8
$104,001 - $207,000 21.3
$52,001 - $104,000 46.4
$0 - $52,000 27.8

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8903082151647 90.379746835443

Number Of Homes And Apartments:
2,442

Watseka 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
19.71% 1.05% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$645 / per month

Homeownership Rate

Homeownership
Owners 68.66
Renters 31.34
Vacant 12.03

Housing Market Details

 

Age of Homes

AGE OF Watseka HOMES
2000 or Newer 8.2
1970 - 1999 33.3
1940 - 1969 38.1
1939 or Older 20.4

Types of Homes

TYPE OF Watseka HOMES
Single-Family 68.0
Townhomes 4.5
Small Apt. Buildings 8.7
Apt. Complexes 14.6
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Watseka HOMES
No Bedroom 2.70
1 Bedroom 9.26
2 Bedrooms 38.18
3 Bedrooms 34.47
4 Bedrooms 13.36
5 or more bedrooms 2.02

Popular Neighborhoods in Watseka

Zip Codes in Watseka, IL