Housing in the Rockford, IL Metro Area is quite affordable with a median value of $164,600. Although the US housing median value is significantly higher at $338,100, the one-year house appreciation rate is lower in Rockford at 7.63%, compared to 8.27% for the US as a whole. This makes Rockford an attractive option for those who want to purchase a home without having to pay too much for it. Furthermore, with careful saving and budgeting, homeowners can look forward to seeing their investment appreciate over time and enjoy an increase in equity as prices rise.
The median home cost in Rockford Metro Area is $164,600. Home appreciation the last 10 years has been 53.8%. Home Appreciation in Rockford Metro Area is up 13.1%.
Average Age of Homes
- The median age of Rockford Metro Area real estate is 45 years old
The Rental Market in Rockford Metro Area
- Renters make up 28.3% of the Rockford Metro Area population
- 1.9% of houses and apartments in Rockford Metro Area, 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.