The housing market in 61016 Cherry Valley, IL has seen some positive appreciation over the past year. Median value for houses in this area is $222,800, which is significantly lower than the US House Median Value of $338,100. The appreciation of house values in 61016 Cherry Valley, IL over the last year has been 7.18%, slightly lower than the US 1 year House Appreciation of 8.27%. This shows that despite its more affordable price point relative to other places in the country, home values are still increasing at a healthy rate.
The median home cost in Cherry Valley (zip 61016) is $222,800. Home appreciation the last 10 years has been 50.3%. Home Appreciation in Cherry Valley (zip 61016) is up 14.1%.
Average Age of Homes
- The median age of Cherry Valley (zip 61016) real estate is 31 years old
The Rental Market in Cherry Valley (zip 61016)
- Renters make up 15.5% of the Cherry Valley (zip 61016) population
- 0.8% of houses and apartments in Cherry Valley (zip 61016), 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.