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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 22,752 people, 8,690 houses or apartments, and a median cost of homes of $190,049, house prices in Machesney Park are solidly below the national average.
Single-family detached homes are the single most common housing type in Machesney Park, accounting for 89.54% of the village's housing units. Other types of housing that are prevalent in Machesney Park include duplexes, homes converted to apartments or other small apartment buildings ( 4.29%), large apartment complexes or high rise apartments ( 4.19%), and a few row houses and other attached homes ( 1.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Machesney Park. Owner-occupied housing accounts for 80.58% of Machesney Park's homes, and 80.08% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Machesney Park 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 Machesney Park built between 1940-1969 ( 30.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.03%). There's also some housing in Machesney Park built before 1939 ( 3.01%).
Appreciation rates for homes in Machesney Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.28%, which ranks in the top 50% nationwide. This equates to an annual average Machesney Park house appreciation rate of 6.64%.
NeighborhoodScout's data show that during the latest twelve months, Machesney Park's appreciation rate, at 6.72%, has been at or slightly above the national average. In the latest quarter, Machesney Park's appreciation rate has been 1.98%, which annualizes to a rate of 8.18%.
Relative to Illinois, our data show that Machesney Park's latest annual appreciation rate is lower than 70% 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 village. Individual neighborhoods within Machesney Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Machesney Park - 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 Machesney Park real estate investment or home purchase decisions.
$190,049
for Illinois
for nation
8,690
$1,705 / per month