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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bourbonnais, IL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bourbonnais, IL Housing Market Trends

With 18,008 people, 5,834 houses or apartments, and a median cost of homes of $335,088, Bourbonnais real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bourbonnais, accounting for 65.21% of the village's housing units. Other types of housing that are prevalent in Bourbonnais include large apartment complexes or high rise apartments ( 16.92%), row houses and other attached homes ( 9.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.45%).

The most prevalent building size and type in Bourbonnais are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 60.14% owning and 39.86% renting.

There is a lot of housing in Bourbonnais 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 Bourbonnais built between 2000 and later ( 24.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.42%). There's also some housing in Bourbonnais built before 1939 ( 1.30%).

Bourbonnais Home Appreciation Rates

Bourbonnais's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bourbonnais during the period has been just 4.80%, which is lower than 80% of US communities.

Appreciation rates are so strong in Bourbonnais that despite a nationwide downturn in the housing market, Bourbonnais real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bourbonnais appreciation rates continue to be some of the highest in America, at 6.94%, which is higher than appreciation rates in 73.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bourbonnais. Bourbonnais appreciation rates in the latest quarter were at 3.38%, which equates to an annual appreciation rate of 14.20%.

Importantly, this makes Bourbonnais one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$335,088

Bourbonnais, IL Home Prices
> $1,291,000
$969,001 - $1,291,000
$646,001 - $969,000
$516,001 - $646,000
$388,001 - $516,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
0.4%
0.4%
0.5%
0.5%
0.9%
0.9%
2.5%
2.5%
17.5%
17.5%
34.4%
34.4%
35.5%
35.5%
2.5%
2.5%
5.8%
5.8%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

5,834

Bourbonnais Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,742 / per month

Homeownership Rate

Owners
Renters
60.1%
60.1%
39.9%
39.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.5%
6.5%
93.5%
93.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
24.2%
24.2%
59.1%
59.1%
15.4%
15.4%
1.3%
1.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.2%
65.2%
9.4%
9.4%
8.4%
8.4%
16.9%
16.9%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
2.0%
2.0%
27.5%
27.5%
42.5%
42.5%
22.1%
22.1%
4.6%
4.6%
0% 100.0%
% of Homes