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 7,891 people, 4,101 houses or apartments, and a median cost of homes of $134,765, house prices in Silvis are solidly below the national average.
Single-family detached homes are the single most common housing type in Silvis, accounting for 57.42% of the city's housing units. Other types of housing that are prevalent in Silvis include large apartment complexes or high rise apartments ( 27.41%), duplexes, homes converted to apartments or other small apartment buildings ( 6.92%), and a few row houses and other attached homes ( 6.50%).
The most prevalent building size and type in Silvis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.51% owning and 43.49% renting.
There is a lot of housing in Silvis 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 Silvis built between 1940-1969 ( 30.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.29%). There's also some housing in Silvis built before 1939 ( 13.58%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Silvis, where house values have increased just 43.87%, which is annualized rate of 3.70%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Silvis that despite a nationwide downturn in the housing market, Silvis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Silvis appreciation rates continue to be some of the highest in America, at 7.02%, which is higher than appreciation rates in 74.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Silvis. Silvis appreciation rates in the latest quarter were at 2.51%, which equates to an annual appreciation rate of 10.42%.
Importantly, this makes Silvis 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 Silvis's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.
$134,765
for Illinois
for nation
4,101
$1,279 / per month