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 Ogden home prices have performed since 2008.
Ogden historical median home sales
Year
Properties sold (#)
Median sale price (nominal)
Median sale price (real)
Year-over-year change (real)
2008
25
$105,000
$122,850
-
2009
14
$88,250
$103,252.50
-16%
2010
12
$81,000
$92,340
-10.6%
2011
16
$94,250
$106,502.50
15.3%
2012
20
$82,250
$89,652.50
-15.8%
2013
30
$103,000
$111,240
24.1%
2014
27
$84,000
$89,040
-20%
2015
25
$114,500
$121,370
36.3%
2016
30
$97,750
$102,637.50
-15.4%
2017
19
$85,000
$86,700
-15.5%
2018
13
$95,000
$95,000
9.6%
Total change in price
-22.7%
Where sale prices were unavailable, the home's assessed value was substituted.
Powered by BlockShopper.com.
Alerts Sign-up