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 9,343, 3,955 total housing units (homes and apartments), and a median house value of $227,073, house prices in Rochelle are solidly below the national average.
Single-family detached homes are the single most common housing type in Rochelle, accounting for 64.91% of the city's housing units. Other types of housing that are prevalent in Rochelle include large apartment complexes or high rise apartments ( 22.50%), duplexes, homes converted to apartments or other small apartment buildings ( 7.19%), and a few row houses and other attached homes ( 5.21%).
People in Rochelle primarily live in small (one, two or no bedroom) single-family detached homes. Rochelle has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Rochelle 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 Rochelle built between 1940-1969 ( 32.84%). A lesser amount of the housing stock also hails from before 1939 ( 12.69%). There's also some housing in Rochelle built between 2000 and later ( 10.20%).
Rochelle's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rochelle during the period has been just 5.46%, which is lower than 70% of US communities.
Appreciation rates are so strong in Rochelle that despite a nationwide downturn in the housing market, Rochelle real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rochelle appreciation rates continue to be some of the highest in America, at 10.64%, which is higher than appreciation rates in 89.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rochelle. Rochelle appreciation rates in the latest quarter were at 1.42%, which equates to an annual appreciation rate of 5.82%.
Relative to Illinois, our data show that Rochelle's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.
$227,073
for Illinois
for nation
3,955
$1,246 / per month