Bellwood, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bellwood Neighborhoods Since 2000




Bellwood, 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

Bellwood Housing Market Information

With a population of 19,308, 6,108 total housing units (homes and apartments), and a median house value of $136,407, house prices in Bellwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Bellwood, accounting for 74.28% of the village's housing units. Other types of housing that are prevalent in Bellwood include large apartment complexes or high rise apartments ( 11.60%), duplexes, homes converted to apartments or other small apartment buildings ( 10.65%), and a few row houses and other attached homes ( 3.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bellwood. Owner-occupied housing accounts for 71.71% of Bellwood's homes, and 56.72% 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. Bellwood's housing was primarily built during this period, from the '40s through the '60s. A full 70.03% of the village's housing hails from this era. Other housing ages represented in Bellwood include homes built before 1939 ( 18.11%) and housing constructed between 1970-1999 ( 10.57%). There's also some housing in Bellwood built between 2000 and later ( 1.29%).

Bellwood Home Appreciation Rates

Homes have actually lost value in Bellwood over the last then years, as home values have seen a decline of 34.41% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bellwood home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Bellwood appreciation rates have trailed the rest of the nation. In the last twelve months, Bellwood's appreciation rate has been 3.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellwood were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Bellwood's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$136,407

Bellwood, IL HOME PRICES

Value Range
> $1,136,000 0.4
$852,001 - $1,136,000 0.2
$568,001 - $852,000 0.0
$455,001 - $568,000 0.2
$341,001 - $455,000 1.0
$227,001 - $341,000 7.3
$114,001 - $227,000 59.4
$57,001 - $114,000 27.8
$0 - $57,000 3.7

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
56.515879526544 47.4683544303797

Number Of Homes And Apartments:
6,108

Bellwood 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
6.39% 0.36% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,338 / per month

Homeownership Rate

Homeownership
Owners 71.71
Renters 28.29
Vacant 9.19

Housing Market Details

 

Age of Homes

AGE OF Bellwood HOMES
2000 or Newer 1.3
1970 - 1999 10.6
1940 - 1969 70.0
1939 or Older 18.1

Types of Homes

TYPE OF Bellwood HOMES
Single-Family 74.3
Townhomes 3.3
Small Apt. Buildings 10.6
Apt. Complexes 11.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Bellwood HOMES
No Bedroom 0.27
1 Bedroom 5.75
2 Bedrooms 34.33
3 Bedrooms 46.02
4 Bedrooms 10.70
5 or more bedrooms 2.93