Aroma Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Aroma Park, IL Real Estate Data


Aroma Park Housing Market Information

With a population of 712, 241 total housing units (homes and apartments), and a median house value of $134,161, house prices in Aroma Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Aroma Park, accounting for 96.95% of the village's housing units. Other types of housing that are prevalent in Aroma Park include duplexes, homes converted to apartments or other small apartment buildings ( 1.53%), row houses and other attached homes ( 1.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Aroma Park. Owner-occupied housing accounts for 89.63% of Aroma Park's homes, and 64.12% 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. Aroma Park's housing was primarily built during this period, from the '40s through the '60s. A full 47.71% of the village's housing hails from this era. Other housing ages represented in Aroma Park include homes built before 1939 ( 29.01%) and housing constructed between 1970-1999 ( 20.61%). There's also some housing in Aroma Park built between 2000 and later ( 2.67%).

Aroma Park Home Appreciation Rates

Aroma Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Aroma Park during the period has been just -1.17%, which is lower than 70% of US communities.

Over the last year, Aroma Park appreciation rates have trailed the rest of the nation. In the last twelve months, Aroma Park's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Aroma Park were at 0.07%, which equates to an annual appreciation rate of 0.28%.

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

Relative to Illinois, our data show that Aroma Park's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$134,161

Aroma Park, IL HOME PRICES

Value Range
> $993,000 0.0
$745,001 - $993,000 0.3
$497,001 - $745,000 1.4
$397,001 - $497,000 0.9
$298,001 - $397,000 1.6
$199,001 - $298,000 16.1
$99,001 - $199,000 55.2
$49,001 - $99,000 20.1
$0 - $49,000 4.3

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
58.6051414182819 50.6329113924051

Number Of Homes And Apartments:
241

Rent & Ownership

 

Average Market Rent:
$929 / per month

Homeownership Rate

Homeownership
Owners 89.63
Renters 10.37
Vacant 8.02

Housing Market Details

 

Age of Homes

AGE OF Aroma Park HOMES
2000 or Newer 2.7
1970 - 1999 20.6
1940 - 1969 47.7
1939 or Older 29.0

Types of Homes

TYPE OF Aroma Park HOMES
Single-Family 96.9
Townhomes 1.5
Small Apt. Buildings 1.5
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Aroma Park HOMES
No Bedroom 0.00
1 Bedroom 5.34
2 Bedrooms 25.57
3 Bedrooms 56.11
4 Bedrooms 8.02
5 or more bedrooms 4.96

Aroma Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
11.49% 0.64% 2 1
* 10 is highest

Popular Neighborhoods in Aroma Park

Zip Codes in Aroma Park, IL