Carbondale, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Carbondale, IL Housing Market Trends

With a population of 25,083, 10,492 total housing units (homes and apartments), and a median house value of $161,549, house prices in Carbondale are solidly below the national average.

Large apartment complexes or high rise apartments are the single most common housing type in Carbondale, accounting for 38.54% of the city's housing units. Other types of housing that are prevalent in Carbondale include single-family detached homes ( 31.91%), duplexes, homes converted to apartments or other small apartment buildings ( 21.93%), and a few mobile homes or trailers ( 4.86%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Carbondale is dominated by renter-occupied one, two, or no bedrooms apartments. 75.34% of Carbondale's dwellings are rentals.

There is a lot of housing in Carbondale built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Carbondale built between 1940-1969 ( 27.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.32%). There's also some housing in Carbondale built before 1939 ( 9.07%).

Vacant housing appears to be an issue in Carbondale. Fully 21.37% of the housing stock is classified as vacant. Left unchecked, vacant Carbondale homes and apartments can be a drag on the real estate market, holding Carbondale 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.

Carbondale Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Carbondale, where house values have increased just 1.20%, which is annualized rate of 0.12%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Carbondale's appreciation rate, at 6.10%, has been at or slightly above the national average. In the latest quarter, Carbondale's appreciation rate has been 3.46%, which annualizes to a rate of 14.59%.

Importantly, NeighborhoodScout’s exclusive research found that Carbondale's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Illinois, our data show that Carbondale's latest annual appreciation rate is higher than 90% 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 Carbondale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carbondale - 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 Carbondale real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$161,549

Carbondale, IL HOME PRICES

> $1,119,000
0.6%
0.6%
$839,001 - $1,119,000
0.3%
0.3%
$559,001 - $839,000
1.9%
1.9%
$448,001 - $559,000
2.7%
2.7%
$336,001 - $448,000
4.7%
4.7%
$224,001 - $336,000
9.0%
9.0%
$112,001 - $224,000
35.9%
35.9%
$56,001 - $112,000
27.9%
27.9%
$0 - $56,000
17.0%
17.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for IL

Value Relative To Nation

Number Of Homes And Apartments:
10,492

Carbondale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
22.85% 0.97%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Owners
24.7%
24.7%
Renters
75.3%
75.3%
Vacant
21.4%
21.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.3%
20.3%
1970 - 1999
43.0%
43.0%
1940 - 1969
27.6%
27.6%
1939 or Older
9.1%
9.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
31.9%
31.9%
Townhomes
2.8%
2.8%
Small Apt. Buildings
21.9%
21.9%
Apt. Complexes
38.5%
38.5%
Mobile Homes
4.9%
4.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
7.2%
7.2%
1 Bedroom
22.2%
22.2%
2 Bedrooms
34.1%
34.1%
3 Bedrooms
26.0%
26.0%
4 Bedrooms
8.5%
8.5%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES