To truly increase, real estate values must grow faster than inflation plus an owner's effective property tax rate - an average appreciation of about 4.4 percent in Illinois.
According to the U.S. Bureau of Labor Statistics' Consumer Price Index, the U.S. dollar has experienced an average inflation rate of 2.12 percent annually since 2000.
The average effective property tax rate in Illinois was 2.32 percent in 2018, according to the website WalletHub.com.
Here's how Humboldt home prices have performed since 2008.
Humboldt historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
15
$67,500
$78,975
-
2009
13
$50,000
$58,500
-25.9%
2010
17
$47,000
$53,580
-8.4%
2011
9
$34,500
$38,985
-27.2%
2012
11
$60,000
$65,400
67.8%
2013
13
$60,000
$64,800
-0.9%
2014
7
$86,000
$91,160
40.7%
2015
8
$112,800
$119,568
31.2%
2016
11
$79,900
$83,895
-29.8%
2017
7
$75,000
$76,500
-8.8%
2018
10
$54,100
$54,100
-29.3%
Total change in price
-31.5%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up