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 10,340, 3,188 total housing units (homes and apartments), and a median house value of $494,700, Manhattan real estate is some of the most expensive in Illinois, although Manhattan home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Manhattan, accounting for 71.29% of the village's housing units. Other types of housing that are prevalent in Manhattan include row houses and other attached homes ( 20.81%), large apartment complexes or high rise apartments ( 3.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.42%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Manhattan. Owner-occupied housing accounts for 90.07% of Manhattan's homes, and 75.41% have either three or four bedrooms, which is average sized relative to America.
Manhattan homes and real estate are some of the newest in America. 62.17% of Manhattan's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Manhattan real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 19.26%), and between 1940-1969 ( 10.24%). There's also some housing in Manhattan built before 1939 ( 8.33%).
Real estate appreciation rates in Manhattan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.
Appreciation rates are so strong in Manhattan that despite a nationwide downturn in the housing market, Manhattan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manhattan appreciation rates continue to be some of the highest in America, at 9.18%, which is higher than appreciation rates in 82.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manhattan. Manhattan appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Manhattan's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.
$494,700
for Illinois
for nation
3,188
$1,623 / per month