Lake Bluff appreciation rates and housing market information

Lake Bluff housing market information

With a population of 6,093, 2,213 total housing units (homes and apartments), and a median house value of $752,121, Lake Bluff house prices are not only among the most expensive in Illinois, Lake Bluff 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 Lake Bluff, accounting for 88.66% of the village's housing units. Other types of housing that are prevalent in Lake Bluff include row houses and other attached homes (4.38%), duplexes, homes converted to apartments, or other small apartment buildings (4.34%), and a few large apartment complexes or high rise apartments (2.62%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lake Bluff. Owner-occupied housing accounts for 87.48% of Lake Bluff's homes, and 77.82% 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. Lake Bluff's housing was primarily built during this period, from the '40s through the '60s. A full 42.57% of the village's housing hails from this era. Other housing ages represented in Lake Bluff include homes built between 1970-1994 (31.18%), and housing constructed from 1939 and earlier (16.35%). There's also some housing in Lake Bluff built between 1995 and later (9.90%).

Lake Bluff home appreciation rates

Real estate appreciation rates in Lake Bluff have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.40% during the period.

Over the last year, Lake Bluff appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Bluff's appreciation rate has been -3.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Bluff were at -0.28%, which equates to an annual appreciation rate of -1.12%.

Relative to Illinois, our data show that Lake Bluff's latest annual appreciation rate is higher than 25% of the other cities and towns in Illinois.