Calumet City, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Calumet City, 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

Calumet City Housing Market Information

With 37,031 people, 13,972 houses or apartments, and a median cost of homes of $100,591, house prices in Calumet City are solidly below the national average.

Single-family detached homes are the single most common housing type in Calumet City, accounting for 54.40% of the city's housing units. Other types of housing that are prevalent in Calumet City include large apartment complexes or high rise apartments ( 21.64%), duplexes, homes converted to apartments or other small apartment buildings ( 17.12%), and a few row houses and other attached homes ( 3.75%).

The most prevalent building size and type in Calumet City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.27% owning and 42.73% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Calumet City's housing was primarily built during this period, from the '40s through the '60s. A full 43.85% of the city's housing hails from this era. Other housing ages represented in Calumet City include homes built between 1970-1999 ( 38.90%) and housing constructed before 1939 ( 12.22%). There's also some housing in Calumet City built between 2000 and later ( 5.03%).

Vacant housing appears to be an issue in Calumet City. Fully 13.33% of the housing stock is classified as vacant. Left unchecked, vacant Calumet City homes and apartments can be a drag on the real estate market, holding Calumet City 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.

Calumet City Home Appreciation Rates

Homes have actually lost value in Calumet City over the last then years, as home values have seen a decline of 36.86% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Calumet City home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Calumet City appreciation rates have trailed the rest of the nation. In the last twelve months, Calumet City's appreciation rate has been 0.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Calumet City were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Calumet City's latest annual appreciation rate is lower than 80% 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 Calumet City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Calumet City - 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 Calumet City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$100,591

Calumet City, IL HOME PRICES

Value Range
> $1,038,000 0.3
$779,001 - $1,038,000 0.4
$519,001 - $779,000 0.2
$415,001 - $519,000 1.0
$312,001 - $415,000 0.6
$208,001 - $312,000 3.7
$104,001 - $208,000 44.2
$52,001 - $104,000 38.6
$0 - $52,000 11.0

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
77.2178600726591 70.7594936708861

Number Of Homes And Apartments:
13,972

Calumet City 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
-11.21% -0.69% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,197 / per month

Homeownership Rate

Homeownership
Owners 57.27
Renters 42.73
Vacant 13.33

Housing Market Details

 

Age of Homes

AGE OF Calumet City HOMES
2000 or Newer 5.0
1970 - 1999 38.9
1940 - 1969 43.9
1939 or Older 12.2

Types of Homes

TYPE OF Calumet City HOMES
Single-Family 54.4
Townhomes 3.7
Small Apt. Buildings 17.1
Apt. Complexes 21.6
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Calumet City HOMES
No Bedroom 1.63
1 Bedroom 14.31
2 Bedrooms 27.95
3 Bedrooms 44.38
4 Bedrooms 9.44
5 or more bedrooms 2.31