Riverside appreciation rates and housing market information

Riverside housing market information

With 9,120 people, 3,674 houses or apartments, and a median cost of homes of $481,628, Riverside house prices are not only among the most expensive in Illinois, Riverside 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 Riverside, accounting for 72.29% of the village's housing units. Other types of housing that are prevalent in Riverside include large apartment complexes or high rise apartments (16.55%), duplexes, homes converted to apartments, or other small apartment buildings (8.68%), and a few row houses and other attached homes (2.31%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Riverside. Owner-occupied housing accounts for 76.97% of Riverside's homes, and 57.37% have either three or four bedrooms, which is average sized relative to America.

The housing in Riverside was primarily built before 1939 (56.72%), making the housing stock in Riverside some of the older overall in America, although there is a range of ages of homes in Riverside. The next most important Riverside housing age is 1940-1969 (37.10%), followed by 1970-1994 (5.61%). There's also some housing in Riverside built between 1995 and later (.57%).

Riverside home appreciation rates

Real estate appreciation rates in Riverside have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.65% during the period.

Over the last year, Riverside appreciation rates have trailed the rest of the nation. In the last twelve months, Riverside's appreciation rate has been -4.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Riverside were at -0.62%, which equates to an annual appreciation rate of -2.48%.

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

Relative to Illinois, our data show that Riverside's latest annual appreciation rate is higher than 18% of the other cities and towns in Illinois.