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 41,295 people, 17,596 houses or apartments, and a median cost of homes of $154,050, house prices in Belleville are solidly below the national average.
Single-family detached homes are the single most common housing type in Belleville, accounting for 65.30% of the city's housing units. Other types of housing that are prevalent in Belleville include large apartment complexes or high rise apartments ( 15.28%), duplexes, homes converted to apartments or other small apartment buildings ( 12.23%), and a few row houses and other attached homes ( 4.18%).
People in Belleville primarily live in small (one, two or no bedroom) single-family detached homes. Belleville 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. Belleville's housing was primarily built during this period, from the '40s through the '60s. A full 37.75% of the city's housing hails from this era. Other housing ages represented in Belleville include homes built between 1970-1999 ( 26.03%) and housing constructed before 1939 ( 25.79%). There's also some housing in Belleville built between 2000 and later ( 10.43%).
Vacant housing appears to be an issue in Belleville. Fully 13.52% of the housing stock is classified as vacant. Left unchecked, vacant Belleville homes and apartments can be a drag on the real estate market, holding Belleville 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.
Belleville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Belleville during the period has been just 4.69%, which is lower than 80% of US communities.
Over the last year, Belleville appreciation rates have trailed the rest of the nation. In the last twelve months, Belleville's appreciation rate has been 4.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belleville were at 1.09%, which equates to an annual appreciation rate of 4.45%.
Relative to Illinois, our data show that Belleville's latest annual appreciation rate is lower than 80% 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 Belleville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belleville - 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 Belleville real estate investment or home purchase decisions.
$154,050
for Illinois
for nation
17,596
$1,406 / per month