GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
The Prairie State especially Chicago is known for its Chicago-style hot dogs, deep-dish pizza and Wrigley Field.
Some locations, though, are better than others and some you probably want to avoid altogether.
Since 2000, Cahokia Heights has seen a 16.2% population decrease, as reported byCity-Data.com.
Cahokia Heights faces serious challenges that make it a risky investment for property buyers like myself.
High poverty rates and a declining population indicate low to no appreciation potential.
If those factors werent enough to deter you from Cahokia Heights, the pollution might.
The declining job market has contributed to population loss, which has resulted in falling property values.
Peoria ranked third onNBC Chicagos2023 list of worst-appreciating cities, with a rate of 61.7%.
For reference, between 1998 and 2002, the average home value grew 154%.
This is slightly higher than the Illinois average of 2.08%.
If you want to purchase a property in Illinois, steer clear of Peoria.
Property taxes are also closer to the state average, at 2.1%.
This means that purchasing a home in Springfield could lead to stagnant growth.
Illinois has plenty of other cities that showpromising growth resultscompared to Springfield.
Even if you arent looking for appreciation, you might struggle to find employment opportunities.
A declining population and a high poverty rate highlight minimal job opportunities.
Combine all of these factors, and you might want to avoid purchasing property in Decatur.
The Bottom Line
Were these cities originally on your list of potential places to call home?
If so, you might want to consider other cities, like Evanston, Naperville and Aurora.
These cities all havelow crime rates, positive population growth and promising job markets.
More From GOBankingRates
Share This Article:
