The housing in Morrison, IL is quite affordable compared to other areas in the United States. The median value for a house in Morrison is $132,900 which is significantly lower than the US median value of $338,100. Although the US 1 year house appreciation rate was 8.27%, the 1 year appreciation rate for housing in Morrison was slightly lower at 6.99%. Therefore, it can be concluded that Morrison offers great value when it comes to housing with an impressive appreciation rate and low cost of entry.
The median home cost in Morrison is $132,900. Home appreciation the last 10 years has been 34.4%. Home Appreciation in Morrison is up 8.3%.
Average Age of Homes
- The median age of Morrison real estate is 64 years old
The Rental Market in Morrison
- Renters make up 23.1% of the Morrison population
- 1.4% of houses and apartments in Morrison, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.