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 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%).
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.
$122,685
for Illinois
for nation
7,884
$1,097 / per month