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 17,469 people, 6,801 houses or apartments, and a median cost of homes of $343,072, Morton real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Morton, accounting for 68.11% of the village's housing units. Other types of housing that are prevalent in Morton include large apartment complexes or high rise apartments ( 13.17%), row houses and other attached homes ( 7.89%), and a few mobile homes or trailers ( 6.08%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morton. Owner-occupied housing accounts for 76.68% of Morton's homes, and 62.76% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Morton 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 Morton built between 1940-1969 ( 32.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.88%). There's also some housing in Morton built before 1939 ( 8.52%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Morton, where house values have increased just 48.30%, which is annualized rate of 4.02%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Morton that despite a nationwide downturn in the housing market, Morton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morton appreciation rates continue to be some of the highest in America, at 9.07%, which is higher than appreciation rates in 72.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morton. Morton appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.20%.
Relative to Illinois, our data show that Morton's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.
$343,072
for Illinois
for nation
6,801
$1,219 / per month