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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.



Metropolis, 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

Metropolis, IL Housing Market Trends

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.

Metropolis Home Appreciation Rates

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.

Average Home Values

Median Home Value

$124,807

Metropolis, IL Home Prices
> $1,244,000
$933,001 - $1,244,000
$622,001 - $933,000
$498,001 - $622,000
$373,001 - $498,000
$248,001 - $373,000
$124,001 - $248,000
$63,001 - $124,000
$0 - $63,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
9.9%
9.9%
38.0%
38.0%
35.4%
35.4%
16.5%
16.5%
0% 100.0%
% of Homes
Very Low

for Illinois

Very Low

for nation

Number of Homes And Apartments:

2,469

Metropolis Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,085 / per month

Homeownership Rate

Owners
Renters
63.6%
63.6%
36.4%
36.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
21.5%
21.5%
78.5%
78.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.5%
6.5%
39.6%
39.6%
37.2%
37.2%
16.8%
16.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.8%
76.8%
2.0%
2.0%
5.9%
5.9%
6.9%
6.9%
8.4%
8.4%
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
3.4%
3.4%
4.8%
4.8%
33.0%
33.0%
48.8%
48.8%
8.2%
8.2%
1.8%
1.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Metropolis

Zip Codes in Metropolis, IL