Centralia, IL is an attractive place for real estate investors. It has diverse and affordable homes. You’ll find big stores like Schnucks and Taco Bell, showing a strong shopping scene. This makes the area good for both home buyers and shop owners. Centralia East, in particular, is known for its low prices and easy travel times. It’s great for retirees and workers details here1.
Living in Centralia can be easy on your wallet. The median house price is $84,700, much less than many places1. Jobs in the area are stable, supporting the economy. Plus, the cost of living gets an A for affordability. This attracts lots of renters with a median rent at $7181.
Centralia’s real estate market is ripe with chances for making money. Rent and home values are growing2. These key points make Centralia a top area for entering the housing market. It’s seen as an excellent investment spot.
Key Takeaways
- Centralia East stands out for its affordable housing and short commute times1.
- Strong commercial presence with retailers like Schnucks and Taco Bell enhances investment appeal.
- Median home value and median is notably below national medians1.
- Low cost of living graded A provides a favorable environment for investors1.
- Property appreciation rates and rental market stability promise long-term gains2.
Introduction to Centralia, IL Real Estate Market
Centralia, Illinois, offers affordable housing in a sparse suburban setting. Around 12,354 people call this southern Illinois city home. It has a stable, welcoming community for those looking to invest3.
The housing market in Centralia is buyer-friendly. Median home prices are just $75,600, much lower than the state average. This makes it great for both first-time buyers and experienced investors3.
Overview of Housing Market
A majority, 64%, of Centralia’s residents own their homes4.
Also, the area has seen dynamic trends, like a 15.6% increase in homes for sale in June 20244. This growth in available homes makes the market more appealing to buyers and investors.
Trends and Statistics
Homes in Centralia are selling fast, often in just 14 days4.
Despite this, some homes—8 listings in June 2024—sold for less than their asking price. This might mean prices are competitive or sellers are eager4. With a median list price of $90,000, Centralia remains an affordable place to live4.
Living in Centralia is 23.72% cheaper than the national average3.
The home price to income ratio here is very low at 1.9, below the state’s average3. This shows people can buy homes more easily.
Additionally, the average commute is only 17 minutes3. This short travel time is much better than the national average. With such positive trends and statistics, Centralia is a strong choice for real estate investment.
Key Factors to Consider When Investing
When thinking about investing in Centralia, it’s important to look at several key factors. These include the cost of living, employment rates, and neighborhood safety. Knowing about these can help investors see the good and the tough parts of putting money into Centralia.
Cost of Living Analysis
Centralia is known for its low cost of living. It’s 20% cheaper to live here than the U.S. average. Housing costs are especially low – 52.5% less than the national average. Prices for groceries and healthcare are also below the national averages by 3.1% and 11.3%, respectively5. Homeowners might spend about $1,209 a month, while renters usually pay around $525 a month5. For more details on Centralia’s living costs, check out this website.
Job Market and Employment Opportunities
Centralia’s job market scores a ‘C+’ for its stability. The median household income here is $39,117. This is 29.3% lower than the national level, suggesting the job market is there but not booming5. This situation could be good for investments in rental properties due to less competition. It’s a point investors need to think about when making plans.
Crime and Safety Considerations
Safety is a big deal for anyone looking to invest. Centralia gets a ‘C minus’ rating for crime and safety. This means investors should really look into local crime rates. Also, they might need to invest in security to make sure their properties are safe and tenants are happy.
To sum it up, Centralia has a low cost of living and a steady job market. But, safety concerns shouldn’t be ignored. If you’re looking for an affordable place to invest with steady returns, consider these points carefully before investing in Centralia, IL.
Centralia Township Housing Market
Centralia Township’s housing market is on the move with homes selling fast. Properties were on the market for just 14 days in June 2024. This shows both demand and opportunities for investors4.
Property Value Trends
Homes in Centralia Township have a wide price range, starting at $6,900 to $950,000. This offers options for first-time buyers and luxury investors alike6. The median home price was $90,000 in June 2024, making it an affordable place to live4. Also, many homes sold for more than their listed price, proving it’s a sought-after area4.
Last month, 33 homes were sold in Marion County, including many in Centralia. This shows strong interest in the area6. The properties here vary widely in price and size. You can find lots ranging from 9,583 sq ft up to 12.56 acres6.
Neighborhood Amenities
Centralia Township is attractive because of its amenities. It has big stores like Schnucks and great places to eat like the Rail café. These perks help draw new people to the area and keep the housing market strong.
About 12,063 people live in Central “with the majority being homeowners (64%)4. The area attracts a wide variety of people. Around 48% have college degrees, and 47% are singles without children4.
All these points highlight why Centralia Township is a standout for newcomers and investors. It points to a growing market and attractive living conditions for everyone.
Raccoon Township Housing Market
Raccoon Township is a key part of the Centralia, IL real estate scene. It’s a hotspot for investors. They should note the dynamic property investment opportunities here.
This township works well with Centralia’s economy. This creates a good environment for property investments.
Raccoon Township’s real estate market shares traits with Centralia. Property listings in Centralia had homes priced between $200,000 and $245,000 for 2 to 7.62 acres7. This info helps investors value properties in Raccoon Township correctly.
In June 2024, Centralia, IL saw more homes for sale. Listings were up for about 14 days on average. The median list price was $90,000 during this time7. Raccoon Township shows similar trends. This suggests a lively market where homes sell fast, at different prices.
Investors should watch Raccoon Township’s listings and market changes closely. Doing so, alongside watching Centralia’s market, unveils many good investment opportunities. These can meet short and long-term financial goals.
Salem Township Housing Market
The Salem Township housing market is changing. Right now, there are 30 affordable homes on sale. The median listing price is $140K, which draws in potential investors8. Homes here spend about 47 days on the market. This gives buyers and investors a good chance to act8.
A property analysis in Salem Township helps with refining home searches. It makes it simpler to find homes that meet specific needs. Whether you’re looking at price, size, or other features, having these filters is key for smart decision-making.
Last month, 15 homes were sold in Salem Township8. Knowledgeable real estate agents are also a big help. They offer insights on market trends, helping both buyers and sellers. This mirrors the market potential found in Centralia, which is closely linked economically, affecting real estate dynamics8.
For a detailed look, you can check out the property types on local real estate listings8. This online tool gives a full Salem Township property analysis. It ensures you understand the current market opportunities well.
The housing market in Salem Township is strong. It offers a variety of affordable and diverse properties. For anyone interested in real estate, staying updated with reliable data and expert advice is crucial for success.
Popular Suburban Areas for Families
Looking at family-friendly suburbs in Centralia, schools and parks play a big role. The community has 12,354 people living closely together, which is great for families9. We’ll see why schools and outdoors spots are important here.
Schools and Education Facilities
Centralia’s schools are dedicated to high-quality learning. Names like Jordan Elementary, Lincoln Elementary, and Central City Elementary stand out9. Besides top academics, they offer excellent programs for kids’ overall growth.
In Centralia, 44% of families have children under 189. This shows a vibrant community keen on education. Kids also benefit from fun places to play and learn outside class.
Parks and Recreational Activities
Centralia is home to parks and outdoor spots perfect for family outings. Fairview Park and Foundation Park offer lots of activities9. This encourages an active, healthy life. The parks are great for gathering and playing together, building a strong community spirit.
These suburbs focus on education and fun outdoor activities9. This mix makes them an ideal choice for families, attracting investors looking at family-based opportunities.
Neighborhoods with Affordable Housing Options
Centralia is an appealing choice for those looking for affordable housing. Home prices here are much lower compared to the rest of Illinois and the U.S. The median cost of a home in Centralia is about $91,860. This is a big deal because it’s way less than in many other areas10.
Median Home Prices
The median home price in Centralia is $91,860. This makes it a great place for affordable homes. When you look at other towns like Mattoon and Mount Vernon, Centralia offers better prices and the chance for a good investment return10. Homes here are 56.8% cheaper than the Illinois average. This info makes Centralia attractive to both investors and people hoping to buy a home3.
Rent vs Buy Analysis
Thinking about renting or buying? Centralia’s market has some convincing numbers. The average rent here is $718. This makes buying a house more appealing if you’re deciding between the two10. The city’s cost of living score is 75, lower than the U.S. average. With a home price to income ratio of 1.9, buying a home is more doable and appealing here than in much of Illinois3.
Best Neighborhoods For First-Time Home Buyers
Centralia is great for first-time buyers, offering a mix of starter homes for different budgets. With affordable options and a strong sense of community, it’s perfect for those starting out.
Entry-Level Home Options
Centralia’s real estate market has 52 affordable homes, with the average price at $105,00011. This makes it a budget-friendly option. The average home price is $65,056, making starters homes accessible12. Plus, the value you get for each square foot is priced at $191, which is a good deal12.
Buyers can choose from townhouses to multi-family units, offering different living options11. With an average market time of 52 days, there’s enough time for a well-thought choice11.
Community Support and Engagement
Centralia shines with its community vibe. With 67% owner-occupied homes, it brings a solid and supportive environment12. Newcomers find a welcoming and engaged community here.
The town also shines with great amenities. With 18 internet providers and top schools, it meets family needs12. Centralia’s moderate walk and bike scores, plus an electric vehicle charging station, add to its charm12.
Below is a table that highlights Centralia’s attraction for newcomers:
| Statistic | Value |
|---|---|
| Total Population | 12,00012 |
| Median Age | 4112 |
| Owner-Occupied Homes | 67%12 |
| Renter-Occupied Homes | 33%12 |
| Median Home Price | $65,05612 |
| Median Rent | $65812 |
| Median Listing Price | $105,00011 |
| Median Price / Sqft | $19112 |
Centralia stands out as a top choice for first-time buyers. It combines affordable homes with a friendly community feel.
Upcoming Development Projects in Centraler
Centralia is gearing up for big changes with new projects aimed at improving local infrastructure and the economy. The Illinois Department of Transportation (IDOT) is spending a whopping $825 million on works throughout the city. These include fixing bridges, making roads better, and improving accessibility for everyone to enhance transportation. They’re also creating more jobs and making life better in Centralia13.
These projects in Centralia have a big role in pushing real estate growth, bringing in more people, and raising the value of homes. Investors should keep an eye on these projects. They offer a chance to benefit from a rise in the demand for properties.
The following table provides a breakdown of some key investments contributing to the real estate growth in Centralia:
| Project | Investment Amount | Purpose |
|---|---|---|
| Infrastructure Projects | $825 million | Bridge replacements, road resurfacing, ADA improvements, intersection enhancements |
| Gun Violence Prevention Initiative in Lake County | $750,000 | Violence prevention and intervention for youth |
| Environmental Justice Assessment Program | $2 million | University of Illinois-Chicago School of Public Health |
| READI Chicago Program | $500,000 | Workforce development |
Not only are these investments making Centralia’s infrastructure better, but they’re also tackling important issues. Issues like gun violence and environmental justice are being addressed. This builds a strong base for real estate growth in Centralia14. With the progress of these projects, Centralia’s economy is set to grow. This makes the city more appealing for people looking to buy a home and for investors.
Neighborhoods with High Rental Income Potential
When you’re eyeing neighborhoods in Centralia, IL, for profitable rentals, always look at the median rent prices and how long properties stay on the market. These factors help you understand if you can make good money and how much demand there is for rentals.
Median Rent Prices
The median rent in Centralia looks promising for those wanting to invest. It shows what’s going on with rent prices and helps landlords decide on competitive rates to draw in renters. By keeping an eye on Centralia’s median rents, investors can make smart choices2.
Average Days on Market
Rental homes in in-demand areas don’t stay up for grabs long. This signals strong demand. Knowing which neighborhoods have quick turnovers can point investors toward areas with the potential for making more money from rentals3.
Historic Districts with Investment Potential
Centralia’s historic districts are full of opportunities for investors in historic properties. These areas standout with unique charm and special architectural styles. They often bring high prices in the real estate market.
Historic Home Prices
In Centralia, 38 vintage homes are up for grabs in Marion County. They have a medium price tag of $131,00015. On average, these homes stay on sale for about 48 days15. Besides, places like Salem also offer historic homes. This gives investors more options15.
Tourism and Visitor Appeal
Centralia’s historic districts boost investor value through tourism. These spots draw visitors who love the area’s history and architecture. This visitor interest helps the market for short-term rentals and tourism-related businesses.
For those focusing on long-term investment, Centralia’s historic areas are ideal. They ensure stable property values and a strong pull for tourists. This makes them perfect for maximizing investment returns in historic properties.
Best Neighborhoods To Invest In Centralia, IL
Centralia, IL is a growing hotspot for real estate investors. It offers great Centralia neighborhoods known for their strong investment potential. Many investors are eyeing areas that show signs of sustainable growth and profits.
Top-Rated Investment Areas
Right now, there are 14 available properties in Centralia priced around $105,000 on average. Prices range widely, from about $6,900 to $261,51316. Investors will find a variety of options in these sought-after areas, including houses, townhouses, and duplexes.
Redfin makes finding properties easy in Centralia. They blend tech and competitive fees for smooth property hunting, helped by experienced agents16.
In the past month, 52 new listings hit the Centralia market. Most of these are houses, but there are also multi-family options. This means more choices for both single and group investors11.
Long-Term Growth Potential
Centralia isn’t just for quick buys; it’s great for the long haul too. Last month, 11 homes sold, showing steady market activity. Properties are sold in about 52 days, proving the market moves quickly here1611.
Listings get updated every 15 minutes, so buyers and sellers always have the latest info. This constant updating helps keep the market lively and opens up chances for long-term growth16.
The ongoing sale of properties, along with the latest tech and skilled agents, makes these Centralia areas top picks. They are perfect for anyone looking at long-term investments16.
Conclusion
Looking closely at Centralia, IL’s housing market shows it is ripe for investors. Homes for sale jumped 15.6% in June 2024 from the month before. This points to a growing market4. Homes also spent just 14 days listed, showing buyers really want them4.
The average price for a home in Centralia is $90,000. This makes it a great find for affordable investments4. Several homes even sold for more than their listed price in June 2024. This tells us the market is indeed competitive4. Also, with 64% of people owning their homes and 48% with college degrees, Centralia has a strong, smart community4.
In conclusion, Centralia offers a bright chance for both new and experienced investors. By looking at specific areas and overall trends, buyers can choose wisely and earn more. Centralia stands out as a smart choice for investing in property.
FAQ
What are the best neighborhoods to invest in Centralia, IL?
Centralia, IL, has areas perfect for investment. These areas are well-known for growing asset values over time. They combine current market trends with strong future growth prospects. Keywords: Centralia IL real estate investment, Centralia top residential areas.
Can you provide an overview of the housing market in Centralia, IL?
Centralia’s housing market mostly features homes owned by residents. Here, homes are valued at about $84,700. This is much lower than the $281,900 national average. Rent in Centralia is affordable at $718, cheaper than many places in the U.S. Keywords: Centralia housing market, Centralia property statistics.
What trends and statistics define the Centralia housing market?
Properties in Centralia sell fast, staying on the market for around 14 days. The typical list price for homes is near $90,000. Many homes sell for more than their listed price, showing a strong market. The area’s appeal is increased by stores like Schnucks. Keywords: real estate trends, market statistics.
What key factors should be considered when investing in Centralia, IL?
When investing in Centralia, consider its affordable living costs, which get an ‘A’ rating. The median income here is $46,468. The area’s crime and safety score is a ‘C minus’. These points give a fuller picture of Centralia for investors. Keywords: Centralia cost of living, employment rates, neighborhood safety.
How is the Centralia Township housing market performing?
Centralia Township’s market is active, with median prices at $90,000. Homes often sell for more than their list prices. The area’s attractiveness is boosted by local stores and dining places. Keywords: Centralia Township property trends, real estate amenities.
What is the Raccoon Township housing market like?
Raccoon Township complements Centralia’s economy, offering good investment opportunities. It’s smart to keep up with the latest listings and market trends here. Keywords: Raccoon Township real estate market, property investments.
How does the Salem Township housing market impact Centralia, IL?
Salem Township has an economic link with Centralia, affecting its property market. Investigating Salem’s trends and developments can reveal new investment chances. Keywords: Salem Township property analysis, housing market potential.
What are the popular suburban areas for families in Centralia, IL?
Suburbs near schools and parks in Centralia are great for families. These areas offer strong schools and fun places to go. Keywords: family-friendly suburbs, Centralia schools, recreational opportunities.
Q: Where are the most affordable housing options in Centralia, IL?
Centralia stands out for its affordable homes at $90,000, way below national averages. Both renting and buying here can be profitable. Keywords: affordable housing Centralia, median home costs, rent-buy comparison.
Why is Centralia suitable for first-time home buyers?
Centralia is great for first-time buyers, offering affordable starter homes. The sense of community and chances to get involved make it even better. Keywords: Centralia first-time buyers, starter homes, community involvement.
What are the upcoming development projects in Centralia?
Centralia is growing, with new projects set to boost the economy. Investors should watch these developments, as they could impact property values. Keywords: Centralia development projects, real estate growth.
Which neighborhoods have high rental income potential in Centralia, IL?
Some neighborhoods in Centralia have high demand for rentals. Here, median rent prices are competitive, and homes sell quickly. These areas are excellent for rental investments. Keywords: rental income neighborhoods, Centralia median rents.
What investment opportunities exist in Centralia’s historic districts?
Centralia’s historic areas offer unique chances for investors. These spots draw tourists, which can help short-term rentals and local businesses. Keywords: Centralia historic districts, investment in historic properties.
What are the best neighborhoods to invest in for long-term growth in Centralia, IL?
For long-term growth, look for Centralia neighborhoods with stable markets and promising development. These areas offer reliable returns and growing asset values. Keywords: top-rated Centralia neighborhoods, long-term investment growth.
Source Links
- Centralia, IL – https://www.niche.com/places-to-live/centralia-marion-il/
- Illinois – https://housecashin.com/investing-guides/investing-il/
- Living In Centralia, IL – https://www.areavibes.com/centralia-il/livability/
- Centralia, IL Homes for Sale & Real Estate – https://www.rockethomes.com/il/centralia
- Cost Of Living in Centralia, IL – https://www.areavibes.com/centralia-il/cost-of-living/
- Land for Sale in Marion County, IL – https://www.redfin.com/county/772/IL/Marion-County/land
- Buy Land For Sale in Illinois – https://www.landbrokermls.com/property-search/illinois-land-for-sale/4?features[]=Pond
- PDF – https://www.attorneygeneral.gov/wp-content/uploads/2021/07/2021-07-21-Final-Distributor-Settlement-Agreement.pdf
- Centralia, Illinois Population & Demographics – https://www.areavibes.com/centralia-il/demographics/
- 10 Cheapest Places To Live In Illinois [2024] – https://www.homesnacks.com/most-affordable-places-in-illinois/
- Cheap Homes for Sale in Centralia, IL – https://www.redfin.com/city/3151/IL/Centralia/cheap-homes
- Is Centralia, IL a Good Place To Live? | Flyhomes – https://flyhomes.com/quality-of-life/centralia–il
- FY 2023 Thriving Communities Program Selected Community Profiles – https://www.transportation.gov/sites/dot.gov/files/2024-04/FY 23 TCP_Selected Communities Fact Sheet_v2.pdf
- Duckworth, Durbin Secure $182 Millions for Illinois Projects FY23 Omnibus Appropriations Bill | U.S. Senator Tammy Duckworth of Illinois – https://www.duckworth.senate.gov/news/press-releases/duckworth-durbin-secure-182-million-for-illinois-projects-in-fy23-omnibus-appropriations-bill
- Vintage Homes for Sale in Marion County, IL – https://www.redfin.com/county/772/IL/Marion-County/vintage
- Land for Sale in Centralia, IL – https://www.redfin.com/city/3151/IL/Centralia/land
