Gurnee appreciation rates and housing market information

Gurnee housing market information

With a population of 37,377, 14,447 total housing units (homes and apartments), and a median house value of $340,583, Gurnee house prices are not only among the most expensive in Illinois, Gurnee real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Gurnee, accounting for 61.51% of the town's housing units. Other types of housing that are prevalent in Gurnee include large apartment complexes or high rise apartments (20.46%), row houses and other attached homes (14.16%), and a few duplexes, homes converted to apartments, or other small apartment buildings (3.77%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Gurnee. Owner-occupied housing accounts for 72.75% of Gurnee's homes, and 59.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gurnee built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Gurnee built from 1995 and later (29.26%). A lesser amount of the housing stock also hails from 1940-1969 (11.91%), and some were built from 1939 and earlier (11.91%).

Gurnee home appreciation rates

Real estate appreciation rates in Gurnee have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.82% during the period.

Over the last year, Gurnee appreciation rates have trailed the rest of the nation. In the last twelve months, Gurnee's appreciation rate has been -2.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gurnee were at -0.17%, which equates to an annual appreciation rate of -0.68%.

Relative to Illinois, our data show that Gurnee's latest annual appreciation rate is higher than 26% of the other cities and towns in Illinois.