Rent Real EstateHot Market: Decatur, IL Outperforms National Trends
In the face of falling employment rates and diving real estate prices, Decatur, Illinois, has outperformed national trends to create a strong housing market buoyed by a growing economy. The labor force in America"s Agribusiness Center has grown by more than 1,500 jobs since January 2008, according to the U.S. Bureau of Labor Statistics, and that has fueled an increase in sales prices for single-family homes in the area by more than 6 percent for the same period last year.
With an affordable cost-of-living index at 29 percent less than the national average, Decatur offers inexpensive housing for residents with an average price at $94,000 and a median rental rate of about $500.
Mayor Paul Osborne says, "While Decatur"s presence as a manufacturing powerhouse is well-established, it is also recognized around the world for its the cutting edge of research and development, engineering, life science and biotech research."
The Economic Development Corporation of Decatur reports that "engineers, scientists, technicians and other managerial and professional occupations make up the largest part of the Decatur area workforce. In addition, there is also a large pool of quality workers experienced in all aspects of manufacturing and production."
Meanwhile, the city is not all work and no play. Golf Digest Magazine has rated the region 18th for great golfing sites for a both accessibility and affordability.