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 5,879 people, 2,469 houses or apartments, and a median cost of homes of $124,807, house prices in Metropolis 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 Metropolis, accounting for 76.80% of the city's housing units. Other types of housing that are prevalent in Metropolis include mobile homes or trailers ( 8.36%), large apartment complexes or high rise apartments ( 6.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.94%).
The most prevalent building size and type in Metropolis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.65% owning and 36.35% renting.
There is a lot of housing in Metropolis 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 Metropolis built between 1940-1969 ( 37.16%). A lesser amount of the housing stock also hails from before 1939 ( 16.75%). There's also some housing in Metropolis built between 2000 and later ( 6.52%).
Vacant housing appears to be an issue in Metropolis. Fully 21.52% of the housing stock is classified as vacant. Left unchecked, vacant Metropolis homes and apartments can be a drag on the real estate market, holding Metropolis 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 Metropolis, where house values have increased just 25.42%, which is annualized rate of 2.29%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Metropolis that despite a nationwide downturn in the housing market, Metropolis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Metropolis appreciation rates continue to be some of the highest in America, at 9.04%, which is higher than appreciation rates in 81.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Metropolis. Metropolis 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 Metropolis's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.
$124,807
for Illinois
for nation
2,469
$1,085 / per month