 The statistics show that the median home value for Illinois was
$179,900 during the post-recession period of 2010-2012, a decrease
from $207,300 during the recession period of 2007-2009. According to
the survey, the post-recession median homeownership rate in Illinois
was 67.3 percent, a decrease from 68.8 percent during the recession.
The findings about home valuations are based on survey responses,
not reported sales, and provide a snapshot of the housing market
from recent years. Current data from the Illinois Association of
Realtors have indicated the market is rebounding, with median prices
statewide registering gains since 2012.
Nevertheless, the American Community Survey provides a wide range
of important statistics about all communities in the country. The
survey gives communities the current information they need to plan
investments and services. Retailers, homebuilders, police
departments, and town and city planners are among the many private
and public sector decision-makers who count on these annual results.
Ever since Thomas Jefferson directed the first census in 1790, the
census has collected detailed characteristics about our nation's
people.
Other selected highlights for Illinois:
Housing units
-
In Illinois, 58.5
percent of housing units post-recession were single-family
detached homes, an increase from 58.1 percent in 2007-2009.
-
Additionally, 2.6 percent of Illinois'
housing units were mobile homes, a decrease from 2.8 percent in
the 2007-2009 statistics.
Mortgage status
- About 68.4 percent of owner-occupied homes had a mortgage in
2010-2012, a decrease from 69.9 percent in 2007-2009.
Rent
-
In 2010-2012, the
median gross rent was $877, which was not statistically
different from $873 in 2007-2009.
-
In Illinois, 43.2 percent of renters
spent 35 percent or more of their household incomes on gross
rent, an increase from 41.4 percent during the recession period.
[to top of second column] |
Monthly owner costs
-
According to
2010-2012 statistics, the median selected monthly owner costs of
housing units with a mortgage was $1,681, a decrease from $1,791
in 2007-2009. Some examples of owner costs are mortgages, real
estate taxes, various insurances, utilities, fuels, mobile home
costs and condominium fees.
-
Meanwhile, the
post-recession median selected monthly owner costs for housing
units without a mortgage was $555, which was not statistically
different from $557 in 2007-2009.
-
In 2010-2012, 29.0 percent of
homeowners with a mortgage spent 35 percent or more of their
household incomes on selected monthly owner costs, a standard
indicator of unaffordable housing. This was not statistically
different from 29.4 percent in 2007-2009.
For more information
The Census Bureau has also released a brief titled "Home Value
and Homeownership Rates: Recession and Post-Recession Comparisons
From 2007-2009 to 2010-2012." This brief uses the 2010-2012 American
Community Survey statistics to focus on homeownership rates and
median housing values in small areas.
In addition to these housing statistics, more than 40 topics
about Illinois are available with the release through the American
Community Survey. The topics include educational attainment,
employment, commuting, language spoken at home, nativity and
ancestry. For the first time, comparison profiles are available for
the three-year statistics, allowing smaller communities to see how
their social, economic and housing characteristics have changed over
time.
The 2010-2012 American Community Survey statistics are available
for the nation, all 50 states, the District of Columbia, Puerto
Rico, every congressional district, every metro area, and all
counties and places with populations of 20,000 or more. Statistics
for areas with smaller populations will be available on Dec. 17.
For more information, contact Dave Roeder at 312-814-6015 or the
regional office of the U.S. Census Bureau in Chicago at 630-288-9288
or 1-800-865-6384.
[Text from
Illinois Department of
Commerce and Economic Opportunity
file received from the
Illinois Office of
Communication and Information] |
