Washington, 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 Q2 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

Washington, IL Housing Market Trends

With a population of 16,516, 6,589 total housing units (homes and apartments), and a median house value of $188,269, Washington real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Washington, accounting for 80.81% of the city's housing units. Other types of housing that are prevalent in Washington include large apartment complexes or high rise apartments ( 8.24%), row houses and other attached homes ( 7.59%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Washington. Owner-occupied housing accounts for 78.57% of Washington's homes, and 69.68% 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. Washington's housing was primarily built during this period, from the '40s through the '60s. A full 34.36% of the city's housing hails from this era. Other housing ages represented in Washington include homes built between 2000 and later ( 31.01%) and housing constructed between 1970-1999 ( 22.10%). There's also some housing in Washington built before 1939 ( 12.53%).

Washington Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Washington, where house values have increased just 14.95%, which is annualized rate of 1.40%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Washington appreciation rates have trailed the rest of the nation. In the last twelve months, Washington's appreciation rate has been 4.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Washington were at 2.83%, which equates to an annual appreciation rate of 11.83%.

Relative to Illinois, our data show that Washington's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$188,269

Washington, IL HOME PRICES

> $1,084,000
0.5%
0.5%
$813,001 - $1,084,000
0.2%
0.2%
$542,001 - $813,000
1.2%
1.2%
$434,001 - $542,000
3.6%
3.6%
$325,001 - $434,000
8.2%
8.2%
$216,001 - $325,000
27.2%
27.2%
$108,001 - $216,000
45.3%
45.3%
$54,001 - $108,000
12.0%
12.0%
$0 - $54,000
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IL

Value Relative To Nation

Number Of Homes And Apartments:
6,589

Washington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
48.15% 1.85%
7
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,176 / per month

Homeownership Rate

Owners
78.6%
78.6%
Renters
21.4%
21.4%
Vacant
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
31.0%
31.0%
1970 - 1999
22.1%
22.1%
1940 - 1969
34.4%
34.4%
1939 or Older
12.5%
12.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
80.8%
80.8%
Townhomes
7.6%
7.6%
Small Apt. Buildings
3.1%
3.1%
Apt. Complexes
8.2%
8.2%
Mobile Homes
0.0%
0.0%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
4.3%
4.3%
2 Bedrooms
19.2%
19.2%
3 Bedrooms
46.1%
46.1%
4 Bedrooms
23.6%
23.6%
5 or more bedrooms
5.8%
5.8%
0.0% 100.0%
% OF HOMES