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 14,857 people, 6,203 houses or apartments, and a median cost of homes of $145,611, house prices in Macomb are solidly below the national average.
Single-family detached homes are the single most common housing type in Macomb, accounting for 49.76% of the city's housing units. Other types of housing that are prevalent in Macomb include large apartment complexes or high rise apartments ( 31.10%), duplexes, homes converted to apartments or other small apartment buildings ( 10.91%), and a few row houses and other attached homes ( 4.16%).
People in Macomb primarily live in small (one, two or no bedroom) single-family detached homes. Macomb has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Macomb 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 Macomb built between 1940-1969 ( 26.82%). A lesser amount of the housing stock also hails from before 1939 ( 21.56%). There's also some housing in Macomb built between 2000 and later ( 15.83%).
Vacant housing appears to be an issue in Macomb. Fully 16.24% of the housing stock is classified as vacant. Left unchecked, vacant Macomb homes and apartments can be a drag on the real estate market, holding Macomb 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Macomb, where house values have increased just 21.03%, which is annualized rate of 1.93%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Macomb that despite a nationwide downturn in the housing market, Macomb real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Macomb appreciation rates continue to be some of the highest in America, at 8.30%, which is higher than appreciation rates in 73.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Macomb. Macomb appreciation rates in the latest quarter were at 1.42%, which equates to an annual appreciation rate of 5.82%.
Relative to Illinois, our data show that Macomb'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 Macomb differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Macomb - 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 Macomb real estate investment or home purchase decisions.
$145,611
for Illinois
for nation
6,203
$1,027 / per month