GALESBURG HOUSING MARKET INFORMATION With a population of 29,130, 12,513 total housing units (homes and apartments), and a median house value of $110,621, house prices in Galesburg are some of the most affordable in Illinois as well as the nation. Single-family detached homes are the single most common housing type in Galesburg, accounting for 68.14% of the city's housing units. Other types of housing that are prevalent in Galesburg include large apartment complexes or high rise apartments ( 16.31%), duplexes, homes converted to apartments or other small apartment buildings ( 9.77%), and a few mobile homes or trailers ( 4.52%). The most prevalent building size and type in Galesburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.53% owning and 46.47% renting. The housing in Galesburg was primarily built before 1939 ( 39.82%), making the housing stock in Galesburg some of the oldest overall in America, although there is a range of ages of homes in Galesburg. The next most important housing age is between 1940-1969 ( 30.46%), followed by between 1970-1999 ( 23.77%). There's also some housing in Galesburg built between 2000 and later ( 5.94%). Vacant housing appears to be an issue in Galesburg. Fully 11.99% of the housing stock is classified as vacant. Left unchecked, vacant Galesburg homes and apartments can be a drag on the real estate market, holding Galesburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor. GALESBURG HOME APPRECIATION RATES Some of the lowest real estate appreciation rates in America over the last ten years have been in Galesburg, where house values have increased just 54.27%, which is annualized rate of 4.43%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America. Appreciation rates are so strong in Galesburg that despite a nationwide downturn in the housing market, Galesburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Galesburg appreciation rates continue to be some of the highest in America, at 11.22%, which is higher than appreciation rates in 92.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Galesburg. Galesburg appreciation rates in the latest quarter were at 2.85%, which equates to an annual appreciation rate of 11.91%. Importantly, this makes Galesburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength. Relative to Illinois, our data show that Galesburg's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois. One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Galesburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use 蘑菇视频 to pinpoint the exact neighborhoods in Galesburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Galesburg real estate investment or home purchase decisions.