Cicero appreciation rates and housing market information

Cicero housing market information

With 85,616 people, 24,640 houses or apartments, and a median cost of homes of $221,098, Cicero real estate prices are well above average cost compared to national prices.

duplexes, homes converted to apartments, or other small apartment buildings are the single most common housing type in Cicero, accounting for 48.69% of the town's housing units. Other types of housing that are prevalent in Cicero include single-family detached homes (35.10%), large apartment complexes or high rise apartments (13.29%), and a few row houses and other attached homes (2.74%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Cicero primarily live in small (one, two, or no bedroom) units, chiefly found in duplexes, homes converted to apartments, or other small apartment buildings. Cicero has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cicero's housing was primarily built during this period, from the '40s through the '60s. A full 47.23% of the town's housing hails from this era. Other housing ages represented in Cicero include homes built between 1939 and earlier (40.46%), and housing constructed from 1970-1994 (10.78%). There's also some housing in Cicero built between 1995 and later (1.53%).

Cicero home appreciation rates

Real estate appreciation rates in Cicero have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.41% during the period.

Over the last year, Cicero appreciation rates have trailed the rest of the nation. In the last twelve months, Cicero's appreciation rate has been -4.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cicero were at -0.68%, which equates to an annual appreciation rate of -2.72%.

Notably, Cicero's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Cicero's latest annual appreciation rate is higher than 17% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Cicero differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cicero - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Cicero real estate investment or home purchase decisions.