Burr Ridge, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burr Ridge, 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

Burr Ridge Housing Market Information

With 10,818 people, 4,283 houses or apartments, and a median cost of homes of $483,002, 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 90.06% of Burr Ridge's homes, and 62.27% 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 ( 18.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.22%). There's also some housing in Burr Ridge built before 1939 ( 1.81%).

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 -1.44%, 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 2.50%, 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 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Burr Ridge's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$483,002

Burr Ridge, IL HOME PRICES

Value Range
> $1,111,000 16.0
$833,001 - $1,111,000 12.3
$555,001 - $833,000 24.4
$444,001 - $555,000 9.2
$333,001 - $444,000 11.2
$222,001 - $333,000 13.1
$111,001 - $222,000 10.6
$56,001 - $111,000 1.5
$0 - $56,000 1.8

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
6.38110863705614 3.79746835443038

Number Of Homes And Apartments:
4,283

Burr Ridge 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
32.70% 1.65% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,959 / per month

Homeownership Rate

Homeownership
Owners 90.06
Renters 9.94
Vacant 4.55

Housing Market Details

 

Age of Homes

AGE OF Burr Ridge HOMES
2000 or Newer 18.3
1970 - 1999 66.7
1940 - 1969 13.2
1939 or Older 1.8

Types of Homes

TYPE OF Burr Ridge HOMES
Single-Family 74.6
Townhomes 11.6
Small Apt. Buildings 2.8
Apt. Complexes 11.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Burr Ridge HOMES
No Bedroom 0.25
1 Bedroom 1.69
2 Bedrooms 16.22
3 Bedrooms 25.07
4 Bedrooms 37.20
5 or more bedrooms 19.57

Popular Neighborhoods in Burr Ridge

Zip Codes in Burr Ridge, IL