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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 6,005, 2,745 total housing units (homes and apartments), and a median house value of $168,687, house prices in Chillicothe are solidly below the national average.
Single-family detached homes are the single most common housing type in Chillicothe, accounting for 81.91% of the city's housing units. Other types of housing that are prevalent in Chillicothe include large apartment complexes or high rise apartments ( 10.47%), row houses and other attached homes ( 4.71%), and a few mobile homes or trailers ( 1.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chillicothe. Owner-occupied housing accounts for 78.10% of Chillicothe's homes, and 61.11% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chillicothe's housing was primarily built during this period, from the '40s through the '60s. A full 35.18% of the city's housing hails from this era. Other housing ages represented in Chillicothe include homes built between 1970-1999 ( 31.30%) and housing constructed before 1939 ( 20.28%). There's also some housing in Chillicothe built between 2000 and later ( 13.24%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Chillicothe, where house values have increased just 33.22%, which is annualized rate of 2.91%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Chillicothe that despite a nationwide downturn in the housing market, Chillicothe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chillicothe appreciation rates continue to be some of the highest in America, at 11.14%, which is higher than appreciation rates in 91.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chillicothe. Chillicothe appreciation rates in the latest quarter were at -0.67%, which equates to an annual appreciation rate of -2.66%.
Notably, Chillicothe's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Chillicothe's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.
$168,687
for Illinois
for nation
2,745
$1,371 / per month