Burr Ridge, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Burr Ridge, IL Housing Market Trends

With 10,758 people, 4,244 houses or apartments, and a median cost of homes of $507,577, Burr Ridge house prices are not only among the most expensive in Illinois, Burr Ridge real estate also is some of the most expensive in all of America.

Burr Ridge is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Burr Ridge than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burr Ridge. Owner-occupied housing accounts for 92.91% of Burr Ridge's homes, and 65.97% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Burr Ridge 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 Burr Ridge built between 2000 and later ( 22.65%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.93%).

Burr Ridge Home Appreciation Rates

Burr Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burr Ridge during the period has been just 1.33%, which is lower than 80% of US communities.

Over the last year, Burr Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Burr Ridge's appreciation rate has been 2.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Burr Ridge were at 1.26%, which equates to an annual appreciation rate of 5.15%.

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

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

Average Home Values

 

Median Home Value:
$507,577

Burr Ridge, IL HOME PRICES

> $1,073,000
13.6%
13.6%
$805,001 - $1,073,000
16.1%
16.1%
$536,001 - $805,000
27.9%
27.9%
$429,001 - $536,000
10.0%
10.0%
$322,001 - $429,000
10.8%
10.8%
$215,001 - $322,000
8.9%
8.9%
$108,001 - $215,000
9.5%
9.5%
$54,001 - $108,000
1.9%
1.9%
$0 - $54,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
4,244

Burr Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
40.89% 1.65%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,492 / per month

Homeownership Rate

Owners
92.9%
92.9%
Renters
7.1%
7.1%
Vacant
6.6%
6.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.7%
22.7%
1970 - 1999
62.9%
62.9%
1940 - 1969
13.9%
13.9%
1939 or Older
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
78.3%
78.3%
Townhomes
10.1%
10.1%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
9.9%
9.9%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
0.0%
0.0%
2 Bedrooms
13.8%
13.8%
3 Bedrooms
23.9%
23.9%
4 Bedrooms
42.0%
42.0%
5 or more bedrooms
19.8%
19.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Burr Ridge

Zip Codes in Burr Ridge, IL