La Grange Park appreciation rates and housing market information

La Grange Park housing market information

With 13,239 people, 5,540 houses or apartments, and a median cost of homes of $377,634, La Grange Park house prices are not only among the most expensive in Illinois, La Grange Park 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 La Grange Park, accounting for 66.39% of the village's housing units. Other types of housing that are prevalent in La Grange Park include large apartment complexes or high rise apartments (21.88%), duplexes, homes converted to apartments, or other small apartment buildings (8.90%), and a few row houses and other attached homes (2.83%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in La Grange Park. Owner-occupied housing accounts for 69.78% of La Grange Park's homes, and 54.82% have either three or four bedrooms, which is average sized relative to America.

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. La Grange Park's housing was primarily built during this period, from the '40s through the '60s. A full 72.40% of the village's housing hails from this era. Other housing ages represented in La Grange Park include homes built between 1939 and earlier (15.60%), and housing constructed from 1970-1994 (11.17%). There's also some housing in La Grange Park built between 1995 and later (.83%).

La Grange Park home appreciation rates

Real estate appreciation rates in La Grange Park have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.90% during the period.

Over the last year, La Grange Park appreciation rates have trailed the rest of the nation. In the last twelve months, La Grange Park's appreciation rate has been -4.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in La Grange Park were at -0.81%, which equates to an annual appreciation rate of -3.24%.

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

Relative to Illinois, our data show that La Grange Park's latest annual appreciation rate is higher than 12% of the other cities and towns in Illinois.