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 8,620 people, 3,969 houses or apartments, and a median cost of homes of $100,226, house prices in Rock Falls 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 Rock Falls, accounting for 78.20% of the city's housing units. Other types of housing that are prevalent in Rock Falls include duplexes, homes converted to apartments or other small apartment buildings ( 9.86%), large apartment complexes or high rise apartments ( 9.34%), and a few mobile homes or trailers ( 1.69%).
The most prevalent building size and type in Rock Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.06% owning and 35.94% renting.
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. Rock Falls's housing was primarily built during this period, from the '40s through the '60s. A full 41.81% of the city's housing hails from this era. Other housing ages represented in Rock Falls include homes built between 1970-1999 ( 30.12%) and housing constructed before 1939 ( 25.25%). There's also some housing in Rock Falls built between 2000 and later ( 2.82%).
Vacant housing appears to be an issue in Rock Falls. Fully 10.45% of the housing stock is classified as vacant. Left unchecked, vacant Rock Falls homes and apartments can be a drag on the real estate market, holding Rock Falls 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 Rock Falls, where house values have increased just 53.55%, which is annualized rate of 4.38%. 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, Rock Falls's appreciation rate, at 9.99%, has been at or slightly above the national average. In the latest quarter, Rock Falls's appreciation rate has been 4.03%, which annualizes to a rate of 17.12%.
Relative to Illinois, our data show that Rock Falls's latest annual appreciation rate is lower than 50% 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 Rock Falls differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rock Falls - 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 Rock Falls real estate investment or home purchase decisions.
$100,226
for Illinois
for nation
3,969
$1,044 / per month