Northbrook appreciation rates and housing market information

Northbrook housing market information

With 33,425 people, 12,484 houses or apartments, and a median cost of homes of $649,487, Northbrook house prices are not only among the most expensive in Illinois, Northbrook 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 Northbrook, accounting for 76.72% of the village's housing units. Other types of housing that are prevalent in Northbrook include large apartment complexes or high rise apartments (12.30%), row houses and other attached homes (10.29%), and a few duplexes, homes converted to apartments, or other small apartment buildings (0.68%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Northbrook. Owner-occupied housing accounts for 89.62% of Northbrook's homes, and 65.73% 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. Northbrook's housing was primarily built during this period, from the '40s through the '60s. A full 49.14% of the village's housing hails from this era. Other housing ages represented in Northbrook include homes built between 1970-1994 (43.85%), and housing constructed from 1995 and later (3.98%). There's also some housing in Northbrook built between 1939 and earlier (3.03%).

Northbrook home appreciation rates

Northbrook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Northbrook during the period has been just 5.90%, which is lower than % of US communities.

Over the last year, Northbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Northbrook's appreciation rate has been -5.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northbrook were at -1.06%, which equates to an annual appreciation rate of -4.24%.

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

Relative to Illinois, our data show that Northbrook's latest annual appreciation rate is higher than 3% 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 village. Individual neighborhoods within Northbrook differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Northbrook - 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 Northbrook real estate investment or home purchase decisions.