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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 23,652 people, 8,471 houses or apartments, and a median cost of homes of $128,166, house prices in Blue Island are solidly below the national average.
Single-family detached homes are the single most common housing type in Blue Island, accounting for 46.58% of the city's housing units. Other types of housing that are prevalent in Blue Island include large apartment complexes or high rise apartments ( 24.65%), duplexes, homes converted to apartments or other small apartment buildings ( 22.86%), and a few row houses and other attached homes ( 3.36%).
People in Blue Island primarily live in small (one, two or no bedroom) single-family detached homes. Blue Island has a mixture of owner-occupied and renter-occupied housing.
The housing in Blue Island was primarily built before 1939 ( 39.22%), making the housing stock in Blue Island some of the oldest overall in America, although there is a range of ages of homes in Blue Island. The next most important housing age is between 1940-1969 ( 38.51%), followed by between 1970-1999 ( 16.37%). There's also some housing in Blue Island built between 2000 and later ( 5.90%).
Vacant housing appears to be an issue in Blue Island. Fully 13.70% of the housing stock is classified as vacant. Left unchecked, vacant Blue Island homes and apartments can be a drag on the real estate market, holding Blue Island real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Blue Island over the last then years, as home values have seen a decline of 32.64% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Blue Island home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.
Appreciation rates are so strong in Blue Island that despite a nationwide downturn in the housing market, Blue Island real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Blue Island appreciation rates continue to be some of the highest in America, at 5.73%, which is higher than appreciation rates in 71.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Blue Island. Blue Island appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.
Relative to Illinois, our data show that Blue Island's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Blue Island differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Blue Island - 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 Blue Island real estate investment or home purchase decisions.
|$838,001 - $1,118,000||0.3|
|$559,001 - $838,000||0.4|
|$447,001 - $559,000||0.2|
|$335,001 - $447,000||0.7|
|$223,001 - $335,000||6.0|
|$112,001 - $223,000||50.6|
|$56,001 - $112,000||30.5|
|$0 - $56,000||10.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Blue Island HOMES|
|2000 or Newer||5.9|
|1970 - 1999||16.4|
|1940 - 1969||38.5|
|1939 or Older||39.2|
|TYPE OF Blue Island HOMES|
|Small Apt. Buildings||22.9|
|SIZE OF Blue Island HOMES|
|5 or more bedrooms||4.06|