Best Neighborhoods To Invest In Centralia, IL

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

1. Centralia, IL – https://www.niche.com/places-to-live/centralia-marion-il/
2. Illinois – https://housecashin.com/investing-guides/investing-il/
3. Living In Centralia, IL – https://www.areavibes.com/centralia-il/livability/
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5. Cost Of Living in Centralia, IL – https://www.areavibes.com/centralia-il/cost-of-living/
6. Land for Sale in Marion County, IL – https://www.redfin.com/county/772/IL/Marion-County/land
7. Buy Land For Sale in Illinois – https://www.landbrokermls.com/property-search/illinois-land-for-sale/4?features[]=Pond
8. PDF – https://www.attorneygeneral.gov/wp-content/uploads/2021/07/2021-07-21-Final-Distributor-Settlement-Agreement.pdf
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10. 10 Cheapest Places To Live In Illinois [2024] – https://www.homesnacks.com/most-affordable-places-in-illinois/
11. Cheap Homes for Sale in Centralia, IL – https://www.redfin.com/city/3151/IL/Centralia/cheap-homes
12. Is Centralia, IL a Good Place To Live? | Flyhomes – https://flyhomes.com/quality-of-life/centralia–il
13. 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
14. 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
15. Vintage Homes for Sale in Marion County, IL – https://www.redfin.com/county/772/IL/Marion-County/vintage
16. Land for Sale in Centralia, IL – https://www.redfin.com/city/3151/IL/Centralia/land