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 1,611, 548 total housing units (homes and apartments), and a median house value of $44,635, house prices in Cairo are some of the most affordable in Illinois as well as the nation.
Single-family detached homes are the single most common housing type in Cairo, accounting for 67.83% of the city's housing units. Other types of housing that are prevalent in Cairo include large apartment complexes or high rise apartments ( 25.53%), duplexes, homes converted to apartments or other small apartment buildings ( 6.38%).
People in Cairo primarily live in small (one, two or no bedroom) single-family detached homes. Cairo has a mixture of owner-occupied and renter-occupied housing.
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. Cairo's housing was primarily built during this period, from the '40s through the '60s. A full 45.70% of the city's housing hails from this era. Other housing ages represented in Cairo include homes built before 1939 ( 32.94%) and housing constructed between 1970-1999 ( 20.85%).
Vacant housing appears to be an issue in Cairo. Fully 53.36% of the housing stock is classified as vacant. Left unchecked, vacant Cairo homes and apartments can be a drag on the real estate market, holding Cairo 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Cairo, where house values have increased just 27.78%, which is annualized rate of 2.48%. 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, Cairo's appreciation rate, at 6.53%, has been at or slightly above the national average. In the latest quarter, Cairo's appreciation rate has been -2.36%, which annualizes to a rate of -9.13%.
Notably, Cairo's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Cairo's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.
$44,635
for Illinois
for nation
548
$1,406 / per month