Calumet Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Calumet Park Neighborhoods Since 2000




Calumet Park, 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 Park Housing Market Information

With 7,865 people, 2,968 houses or apartments, and a median cost of homes of $106,489, house prices in Calumet Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Calumet Park, accounting for 64.27% of the village's housing units. Other types of housing that are prevalent in Calumet Park include large apartment complexes or high rise apartments ( 20.78%), duplexes, homes converted to apartments or other small apartment buildings ( 8.26%), and a few row houses and other attached homes ( 4.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Calumet Park. Owner-occupied housing accounts for 67.49% of Calumet Park's homes, and 52.10% have either three or four bedrooms, which is average sized relative to America.

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 Park's housing was primarily built during this period, from the '40s through the '60s. A full 66.24% of the village's housing hails from this era. Other housing ages represented in Calumet Park include homes built between 1970-1999 ( 17.57%) and housing constructed before 1939 ( 8.87%). There's also some housing in Calumet Park built between 2000 and later ( 7.32%).

Vacant housing appears to be an issue in Calumet Park. Fully 12.78% of the housing stock is classified as vacant. Left unchecked, vacant Calumet Park homes and apartments can be a drag on the real estate market, holding Calumet Park 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 Park Home Appreciation Rates

Homes have actually lost value in Calumet Park over the last then years, as home values have seen a decline of 33.75% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Calumet Park home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, Calumet Park's appreciation rate, at 4.13%, has been at or slightly above the national average. In the latest quarter, Calumet Park's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Calumet Park's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$106,489

Calumet Park, IL HOME PRICES

Value Range
> $1,031,000 0.8
$773,001 - $1,031,000 0.0
$515,001 - $773,000 0.3
$412,001 - $515,000 0.0
$310,001 - $412,000 0.6
$206,001 - $310,000 7.9
$103,001 - $206,000 48.0
$51,001 - $103,000 30.7
$0 - $51,000 11.7

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
73.3827493261456 66.3291139240506

Number Of Homes And Apartments:
2,968

Calumet Park 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
-8.67% -0.52% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,049 / per month

Homeownership Rate

Homeownership
Owners 67.49
Renters 32.51
Vacant 12.78

Housing Market Details

 

Age of Homes

AGE OF Calumet Park HOMES
2000 or Newer 7.3
1970 - 1999 17.6
1940 - 1969 66.2
1939 or Older 8.9

Types of Homes

TYPE OF Calumet Park HOMES
Single-Family 64.3
Townhomes 4.8
Small Apt. Buildings 8.3
Apt. Complexes 20.8
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Calumet Park HOMES
No Bedroom 2.85
1 Bedroom 14.05
2 Bedrooms 28.18
3 Bedrooms 41.96
4 Bedrooms 10.14
5 or more bedrooms 2.82

Popular Neighborhoods in Calumet Park

Zip Codes in Calumet Park, IL