There are currently 2,648 real estate properties in Pana, IL, with a median automated valuation model (AVM) price of $69,938.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Pana, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Pana, IL, is $95,348.00, with the most expensive house in Pana, IL, topping out at $905,000.00 and the cheapest home in Pana, IL, clocking in at $11,019.00. In other words, there’s something for every potential homebuyer or savvy investor in Pana, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Pana, IL, is on a rollercoaster ride. The average rent price in Pana, IL, is $899.00. Indeed, when looking to rent in Pana, IL, you can expect to pay as little as $480.00 or as much as $1,870.00, with the average rent median estimated to be $890.00. The good news is that finding an affordable and desirable property to rent in Pana, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Pana is located in Christian, Illinois, with an estimated municipal population of 5,376 residents. All of the best foreclosed homes for sale in Pana are located in the following zip code areas on Foreclosure.com: 62557. The estimated population per square kilometer (.62 miles) in Pana is 542.
So, about how much do homes cost in Pana? The most recent median value of resident-owned homes in Pana is 75,298. An estimated 73.9 percent of households in Pana own their homes, with an average family size of 2.65. The median household income in Pana is 50,028, with7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Pana, the median commute time of resident workers (in minutes) is 26.9. And last, but certainly not least, are you looking for homes to rent in Pana? If so, the average rent price paid by renters in Pana is 638, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Pana, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Pana is 40.9, split between 47.7 percent male versus 52.3 female. The percentage of residents who report being married in Pana is 48, with an average family size of 2.65.
The percentage of residents who report their race in Pana is as follows:
| White | 98.3% |
| Black / African American | 0.9% |
| Asian | 0.5% |
| American Indian / Alaskan Native | 0% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 0.3% |
| Other | 0% |
Looking for family-friendly neighborhoods in and/or near Pana? Or maybe you are searching for 55+ active adult communities in and/or near Pana?
The percentage of residents who report their age in Pana is as follows:
| Under 10 | 14.8% |
| Aged 10-19 | 10.1% |
| 20s | 9.7% |
| 30s | 15.4% |
| 40s | 5.8% |
| 50s | 15% |
| 60s | 15.1% |
| 70s | 8.8% |
| 80+ | 5.2% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Pana with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Pana.
How do you know that living in -- or moving to -- Pana is right where you need to be? Perhaps you grew up in Pana or already live nearby; therefore, the decision to buy a home in Pana is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Pana for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Pana:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Pana.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Pana can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Pana, meanwhile, can field multiple offers from more qualified buyers.
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