Addison, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Addison, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Addison Housing Market Information

With 37,208 people, 12,250 houses or apartments, and a median cost of homes of $241,675, Addison real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Addison, accounting for 56.75% of the village's housing units. Other types of housing that are prevalent in Addison include large apartment complexes or high rise apartments ( 30.27%), duplexes, homes converted to apartments or other small apartment buildings ( 7.51%), and a few row houses and other attached homes ( 5.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Addison. Owner-occupied housing accounts for 66.35% of Addison's homes, and 53.90% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Addison built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Addison built between 1940-1969 ( 43.48%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.42%). There's also some housing in Addison built before 1939 ( 3.17%).

Addison Home Appreciation Rates

Homes have actually lost value in Addison over the last then years, as home values have seen a decline of 26.23% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Addison home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Addison appreciation rates have trailed the rest of the nation. In the last twelve months, Addison's appreciation rate has been 2.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Addison were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Addison's latest annual appreciation rate is higher than 50% 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 Addison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Addison - 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 2000, to assist you in making the best Addison real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$241,675

Addison, IL HOME PRICES

Value Range
> $1,112,000 1.1
$833,001 - $1,112,000 0.6
$555,001 - $833,000 2.7
$445,001 - $555,000 3.5
$333,001 - $445,000 13.7
$222,001 - $333,000 36.0
$111,001 - $222,000 32.7
$56,001 - $111,000 6.9
$0 - $56,000 2.8

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
23.8368686276808 16.0759493670886

Number Of Homes And Apartments:
12,250

Addison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
15.55% 0.84% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,183 / per month

Homeownership Rate

Homeownership
Owners 66.35
Renters 33.65
Vacant 5.53

Housing Market Details

 

Age of Homes

AGE OF Addison HOMES
2000 or Newer 6.4
1970 - 1999 46.9
1940 - 1969 43.5
1939 or Older 3.2

Types of Homes

TYPE OF Addison HOMES
Single-Family 56.8
Townhomes 5.5
Small Apt. Buildings 7.5
Apt. Complexes 30.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Addison HOMES
No Bedroom 0.46
1 Bedroom 11.81
2 Bedrooms 29.90
3 Bedrooms 39.99
4 Bedrooms 13.90
5 or more bedrooms 3.94