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 a population of 17,119, 7,484 total housing units (homes and apartments), and a median house value of $200,675, house prices in Charleston are solidly below the national average.
Single-family detached homes are the single most common housing type in Charleston, accounting for 53.19% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments ( 26.71%), duplexes, homes converted to apartments or other small apartment buildings ( 11.91%), and a few row houses and other attached homes ( 4.27%).
People in Charleston primarily live in small (one, two or no bedroom) single-family detached homes. Charleston has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Charleston 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 Charleston built between 1940-1969 ( 18.73%). A lesser amount of the housing stock also hails from before 1939 ( 18.59%). There's also some housing in Charleston built between 2000 and later ( 10.15%).
Vacant housing appears to be an issue in Charleston. Fully 13.46% of the housing stock is classified as vacant. Left unchecked, vacant Charleston homes and apartments can be a drag on the real estate market, holding Charleston 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 Charleston, where house values have increased just 43.29%, which is annualized rate of 3.66%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Charleston that despite a nationwide downturn in the housing market, Charleston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charleston appreciation rates continue to be some of the highest in America, at 9.20%, which is higher than appreciation rates in 82.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charleston. Charleston 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 Charleston's latest annual appreciation rate is higher 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 city. Individual neighborhoods within Charleston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Charleston - 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 Charleston real estate investment or home purchase decisions.
$200,675
for Illinois
for nation
7,484
$1,183 / per month