Jacob, IL

Real estate in Jacob, IL is a hot commodity. With a population of just over 2,000 people, the town has seen an influx of new residents in recent years thanks to its close proximity to major metropolitan areas such as Chicago and St. Louis. This has led to an increase in demand for homes and apartments, which has driven up prices significantly.

The average price of a home in Jacob currently stands at $136,000, while the average price of an apartment is $128 per square foot. This makes Jacob one of the most expensive places to live in Illinois, if not the entire United States. However, despite these high prices, there are still plenty of properties available for purchase or rent.

One reason why real estate prices have been so high in Jacob is because there are very few homes available for sale or rent on the market. In fact, according to Zillow data from January 2019, only 2% of all homes for sale in Jacob are single-family detached homes – compared to 31% nationwide and 47% statewide. This means that there is a lot of competition among buyers for available properties – which drives up prices even further.

Another factor that has contributed to high real estate prices in Jacob is the fact that many people are looking for properties that offer a good view or location – factors that can be difficult to find on a small scale town like this one. Additionally, many people who live in Jacob commute into nearby cities for work – meaning they’re more likely than other residents to be willing and able to pay higher property values.