realestate

Illinois Metros to Avoid for Homebuyers, Experts Warn

Purchasing a Home in Illinois: A Guide to the Prairie State's Real Estate Market

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re you considering purchasing a house in Illinois? While the state offers many exciting opportunities, some cities are better left off your list. Here's a look at four of the worst Illinois cities to buy property in the next five years.

    Cahokia Heights is one city to avoid due to its high poverty rates and declining population. Since 2000, the area has seen a 16.2% decrease in residents, with 30.3% living below the poverty line. Pollution is also a significant concern, ranking high on lists of counties with the highest air pollution readings.

    Peoria's economy has been hit hard by deindustrialization, leading to a declining job market and population loss. The city ranked third on NBC Chicago's list of worst-appreciating cities, with property values decreasing 61.7% since 2000. Additionally, Peoria has a high poverty rate (17.4%) and crime index (509.4).

    Springfield may seem like an attractive option due to its modest population growth, but it holds the second spot for smallest appreciation percentages since 1998 at 61.4%. Property taxes are also slightly higher than the state average. The city's high crime rate (441.5) and slow new single-family house construction suggest stagnant growth.

    Decatur ranked sixth on the list of cities with the smallest home value growth, with a population decrease of 15.6% since 2000. High poverty rates (18.0%) and crime levels (373.1) make it challenging to find employment opportunities. Property taxes are also higher than the state average.

    If you're considering purchasing property in Illinois, consider cities like Evanston, Naperville, or Aurora instead. These areas boast low crime rates, positive population growth, and promising job markets.

Illinois metropolitan areas with declining property values and crime rates highlighted.