Zion, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Zion, 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

Zion Housing Market Information

With a population of 24,117, 8,106 total housing units (homes and apartments), and a median house value of $118,558, house prices in Zion are solidly below the national average.

Single-family detached homes are the single most common housing type in Zion, accounting for 63.45% of the city's housing units. Other types of housing that are prevalent in Zion include large apartment complexes or high rise apartments ( 16.28%), duplexes, homes converted to apartments or other small apartment buildings ( 13.94%), and a few row houses and other attached homes ( 6.11%).

The most prevalent building size and type in Zion are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.52% owning and 47.48% renting.

There is a lot of housing in Zion built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Zion built between 1940-1969 ( 34.56%). A lesser amount of the housing stock also hails from before 1939 ( 14.49%). There's also some housing in Zion built between 2000 and later ( 12.35%).

Vacant housing appears to be an issue in Zion. Fully 13.30% of the housing stock is classified as vacant. Left unchecked, vacant Zion homes and apartments can be a drag on the real estate market, holding Zion 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.

Zion Home Appreciation Rates

Homes have actually lost value in Zion over the last then years, as home values have seen a decline of 37.32% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Zion home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Zion appreciation rates have trailed the rest of the nation. In the last twelve months, Zion's appreciation rate has been 2.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Zion were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Zion's latest annual appreciation rate is higher than 50% 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 Zion differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Zion - 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 Zion real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$118,558

Zion, IL HOME PRICES

Value Range
> $1,064,000 0.1
$798,001 - $1,064,000 0.5
$532,001 - $798,000 0.7
$426,001 - $532,000 1.5
$319,001 - $426,000 1.1
$213,001 - $319,000 9.2
$106,001 - $213,000 51.0
$53,001 - $106,000 30.4
$0 - $53,000 5.6

Average for IL
Low for Nation

Value Relative to Nation Value Relative to State
66.3365756474862 57.3417721518987

Number Of Homes And Apartments:
8,106

Zion 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
-18.22% -1.16% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,248 / per month

Homeownership Rate

Homeownership
Owners 52.52
Renters 47.48
Vacant 13.30

Housing Market Details

 

Age of Homes

AGE OF Zion HOMES
2000 or Newer 12.4
1970 - 1999 38.6
1940 - 1969 34.6
1939 or Older 14.5

Types of Homes

TYPE OF Zion HOMES
Single-Family 63.5
Townhomes 6.1
Small Apt. Buildings 13.9
Apt. Complexes 16.3
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Zion HOMES
No Bedroom 4.05
1 Bedroom 12.56
2 Bedrooms 23.93
3 Bedrooms 41.00
4 Bedrooms 15.10
5 or more bedrooms 3.36