The housing market in Shannon, IL (61078) is very affordable compared to the US median value. The house median value for Shannon is $137,200, much lower than the US median of $338,100. However, homeowners in Shannon have seen an impressive rate of return on their investment over the past year with a 7.18% appreciation rate compared to the US 1 year appreciation rate of 8.27%. This means that despite its affordability, Shannon is experiencing strong growth in its housing market and a good opportunity for potential buyers.
The median home cost in Shannon (zip 61078) is $137,200. Home appreciation the last 10 years has been 50.3%. Home Appreciation in Shannon (zip 61078) is up 14.1%.
Average Age of Homes
- The median age of Shannon (zip 61078) real estate is 55 years old
The Rental Market in Shannon (zip 61078)
- Renters make up 20.3% of the Shannon (zip 61078) population
- 3.1% of houses and apartments in Shannon (zip 61078), 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.