Wilmette appreciation rates and housing market information

Wilmette housing market information

With 27,684 people, 10,332 houses or apartments, and a median cost of homes of $781,391, Wilmette house prices are not only among the most expensive in Illinois, Wilmette 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 Wilmette, accounting for 77.59% of the village's housing units. Other types of housing that are prevalent in Wilmette include large apartment complexes or high rise apartments (15.28%), row houses and other attached homes (5.07%), and a few duplexes, homes converted to apartments, or other small apartment buildings (1.90%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Wilmette. Owner-occupied housing accounts for 84.51% of Wilmette's homes, and 64.76% 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. Wilmette's housing was primarily built during this period, from the '40s through the '60s. A full 50.89% of the village's housing hails from this era. Other housing ages represented in Wilmette include homes built between 1939 and earlier (36.63%), and housing constructed from 1970-1994 (9.95%). There's also some housing in Wilmette built between 1995 and later (2.53%).

Wilmette home appreciation rates

Appreciation rates for homes in Wilmette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 81.63%, which ranks in the top 40% nationwide. This equates to an annual average Wilmette house appreciation rate of 8.16%.

Over the last year, Wilmette appreciation rates have trailed the rest of the nation. In the last twelve months, Wilmette's appreciation rate has been -3.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wilmette were at -0.49%, which equates to an annual appreciation rate of -1.96%.

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

Relative to Illinois, our data show that Wilmette's latest annual appreciation rate is higher than 22% 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 Wilmette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilmette - 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 Wilmette real estate investment or home purchase decisions.