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 17,279 people, 6,919 houses or apartments, and a median cost of homes of $142,933, house prices in Jacksonville are solidly below the national average.
Single-family detached homes are the single most common housing type in Jacksonville, accounting for 69.09% of the city's housing units. Other types of housing that are prevalent in Jacksonville include large apartment complexes or high rise apartments ( 12.20%), duplexes, homes converted to apartments or other small apartment buildings ( 9.15%), and a few mobile homes or trailers ( 6.67%).
The most prevalent building size and type in Jacksonville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.26% owning and 46.74% renting.
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. Jacksonville's housing was primarily built during this period, from the '40s through the '60s. A full 34.77% of the city's housing hails from this era. Other housing ages represented in Jacksonville include homes built between 1970-1999 ( 29.85%) and housing constructed before 1939 ( 27.44%). There's also some housing in Jacksonville built between 2000 and later ( 7.94%).
Vacant housing appears to be an issue in Jacksonville. Fully 11.99% of the housing stock is classified as vacant. Left unchecked, vacant Jacksonville homes and apartments can be a drag on the real estate market, holding Jacksonville 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 Jacksonville, where house values have increased just 46.90%, which is annualized rate of 3.92%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Jacksonville that despite a nationwide downturn in the housing market, Jacksonville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Jacksonville appreciation rates continue to be some of the highest in America, at 12.50%, which is higher than appreciation rates in 94.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Jacksonville. Jacksonville 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 Jacksonville's latest annual appreciation rate is higher than 90% 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 Jacksonville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Jacksonville - 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 Jacksonville real estate investment or home purchase decisions.
$142,933
for Illinois
for nation
6,919
$1,064 / per month