Bourbonnais, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Bourbonnais, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Bourbonnais Housing Market Information

With a population of 18,420, 6,198 total housing units (homes and apartments), and a median house value of $198,644, 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 63.70% of the village's housing units. Other types of housing that are prevalent in Bourbonnais include large apartment complexes or high rise apartments ( 15.41%), duplexes, homes converted to apartments or other small apartment buildings ( 13.78%), and a few row houses and other attached homes ( 6.85%).

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 57.96% owning and 42.04% 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 ( 18.39%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.99%). There's also some housing in Bourbonnais built before 1939 ( 1.98%).

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 -0.32%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bourbonnais's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Bourbonnais's appreciation rate has been 2.34%, which annualizes to a rate of 9.68%.

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:
$198,644

Bourbonnais, IL HOME PRICES

Value Range
> $1,136,000 0.7
$852,001 - $1,136,000 0.0
$568,001 - $852,000 0.8
$454,001 - $568,000 0.0
$341,001 - $454,000 3.8
$227,001 - $341,000 26.8
$113,001 - $227,000 60.2
$57,001 - $113,000 6.0
$0 - $57,000 1.7

High for IL
High for Nation

Value Relative to Nation Value Relative to State
38.1897810218978 29.3670886075949

Number Of Homes And Apartments:
6,198

Bourbonnais Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
29.55% 1.35%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,321 / per month

Homeownership Rate

Homeownership
Owners 57.96
Renters 42.04
Vacant 8.44

Housing Market Details

 

Age of Homes

AGE OF Bourbonnais HOMES
2000 or Newer 18.4
1970 - 1999 61.6
1940 - 1969 18.0
1939 or Older 2.0

Types of Homes

TYPE OF Bourbonnais HOMES
Single-Family 63.7
Townhomes 6.9
Small Apt. Buildings 13.8
Apt. Complexes 15.4
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Bourbonnais HOMES
No Bedroom 0.80
1 Bedroom 4.02
2 Bedrooms 31.07
3 Bedrooms 43.94
4 Bedrooms 16.75
5 or more bedrooms 3.43