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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mattoon, IL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mattoon, IL Housing Market Trends

With a population of 16,666, 7,884 total housing units (homes and apartments), and a median house value of $122,685, house prices in Mattoon are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Mattoon, accounting for 70.36% of the city's housing units. Other types of housing that are prevalent in Mattoon include large apartment complexes or high rise apartments ( 14.80%), duplexes, homes converted to apartments or other small apartment buildings ( 10.10%), and a few mobile homes or trailers ( 2.74%).

People in Mattoon primarily live in small (one, two or no bedroom) single-family detached homes. Mattoon 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. Mattoon's housing was primarily built during this period, from the '40s through the '60s. A full 36.47% of the city's housing hails from this era. Other housing ages represented in Mattoon include homes built before 1939 ( 30.35%) and housing constructed between 1970-1999 ( 26.40%). There's also some housing in Mattoon built between 2000 and later ( 6.79%).

Mattoon Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Mattoon, where house values have increased just 43.93%, which is annualized rate of 3.71%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Mattoon's appreciation rate, at 6.79%, has been at or slightly above the national average. In the latest quarter, Mattoon's appreciation rate has been 1.42%, which annualizes to a rate of 5.82%.

Relative to Illinois, our data show that Mattoon's latest annual appreciation rate is lower than 60% 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 Mattoon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mattoon - 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 Mattoon real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$122,685

Mattoon, IL Home Prices
> $1,273,000
$955,001 - $1,273,000
$637,001 - $955,000
$509,001 - $637,000
$382,001 - $509,000
$255,001 - $382,000
$127,001 - $255,000
$64,001 - $127,000
$0 - $64,000
0.0%
0.0%
0.0%
0.0%
0.9%
0.9%
0.4%
0.4%
1.4%
1.4%
4.7%
4.7%
36.8%
36.8%
42.0%
42.0%
13.8%
13.8%
0% 100.0%
% of Homes
Very Low

for Illinois

Very Low

for nation

Number of Homes And Apartments:

7,884

Mattoon Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,097 / per month

Homeownership Rate

Owners
Renters
53.5%
53.5%
46.5%
46.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.0%
10.0%
90.0%
90.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.8%
6.8%
26.4%
26.4%
36.5%
36.5%
30.3%
30.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.4%
70.4%
2.0%
2.0%
10.1%
10.1%
14.8%
14.8%
2.7%
2.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.4%
6.4%
13.4%
13.4%
32.1%
32.1%
37.4%
37.4%
9.6%
9.6%
1.1%
1.1%
0% 100.0%
% of Homes

Popular Neighborhoods in Mattoon

Zip Codes in Mattoon, IL