West Frankfort, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Frankfort, 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

West Frankfort Housing Market Information

With a population of 8,067, 3,399 total housing units (homes and apartments), and a median house value of $59,739, house prices in West Frankfort 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 West Frankfort, accounting for 76.10% of the city's housing units. Other types of housing that are prevalent in West Frankfort include duplexes, homes converted to apartments or other small apartment buildings ( 9.71%), large apartment complexes or high rise apartments ( 9.22%), and a few mobile homes or trailers ( 3.46%).

People in West Frankfort primarily live in small (one, two or no bedroom) single-family detached homes. West Frankfort 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. West Frankfort's housing was primarily built during this period, from the '40s through the '60s. A full 38.70% of the city's housing hails from this era. Other housing ages represented in West Frankfort include homes built before 1939 ( 27.90%) and housing constructed between 1970-1999 ( 27.41%). There's also some housing in West Frankfort built between 2000 and later ( 5.99%).

Vacant housing appears to be an issue in West Frankfort. Fully 13.40% of the housing stock is classified as vacant. Left unchecked, vacant West Frankfort homes and apartments can be a drag on the real estate market, holding West Frankfort 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.

West Frankfort Home Appreciation Rates

Appreciation rates for homes in West Frankfort have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.18%, which ranks in the top 30% nationwide. This equates to an annual average West Frankfort house appreciation rate of 1.16%.

Over the last year, West Frankfort appreciation rates have trailed the rest of the nation. In the last twelve months, West Frankfort's appreciation rate has been -7.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Frankfort were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that West Frankfort's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$59,739

West Frankfort, IL HOME PRICES

Value Range
> $971,000 0.2
$729,001 - $971,000 0.0
$486,001 - $729,000 0.1
$389,001 - $486,000 1.7
$291,001 - $389,000 0.4
$194,001 - $291,000 2.7
$97,001 - $194,000 18.6
$49,001 - $97,000 36.0
$0 - $49,000 40.2

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
98.0956287354975 98.2278481012658

Number Of Homes And Apartments:
3,399

West Frankfort 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
47.90% 2.29% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$722 / per month

Homeownership Rate

Homeownership
Owners 61.30
Renters 38.70
Vacant 13.40

Housing Market Details

 

Age of Homes

AGE OF West Frankfort HOMES
2000 or Newer 6.0
1970 - 1999 27.4
1940 - 1969 38.7
1939 or Older 27.9

Types of Homes

TYPE OF West Frankfort HOMES
Single-Family 76.1
Townhomes 1.5
Small Apt. Buildings 9.7
Apt. Complexes 9.2
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF West Frankfort HOMES
No Bedroom 2.62
1 Bedroom 15.31
2 Bedrooms 36.87
3 Bedrooms 37.27
4 Bedrooms 6.93
5 or more bedrooms 0.99

Popular Neighborhoods in West Frankfort

Zip Codes in West Frankfort, IL