Carpentersville, 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

Carpentersville, IL Housing Market Trends

With a population of 37,254, 10,722 total housing units (homes and apartments), and a median house value of $173,257, Carpentersville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Carpentersville, accounting for 68.57% of the village's housing units. Other types of housing that are prevalent in Carpentersville include row houses and other attached homes ( 14.84%), large apartment complexes or high rise apartments ( 12.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.16%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carpentersville. Owner-occupied housing accounts for 70.17% of Carpentersville's homes, and 70.82% 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. Carpentersville's housing was primarily built during this period, from the '40s through the '60s. A full 38.65% of the village's housing hails from this era. Other housing ages represented in Carpentersville include homes built between 1970-1999 ( 34.60%) and housing constructed between 2000 and later ( 23.81%). There's also some housing in Carpentersville built before 1939 ( 2.95%).

Carpentersville Home Appreciation Rates

Appreciation rates for homes in Carpentersville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 38.14%, which ranks in the top 40% nationwide. This equates to an annual average Carpentersville house appreciation rate of 3.28%.

Over the last year, Carpentersville appreciation rates have trailed the rest of the nation. In the last twelve months, Carpentersville'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 Carpentersville were at 1.26%, which equates to an annual appreciation rate of 5.15%.

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

Relative to Illinois, our data show that Carpentersville'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 village. Individual neighborhoods within Carpentersville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carpentersville - 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 Carpentersville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$173,257

Carpentersville, IL HOME PRICES

> $1,183,000
0.6%
0.6%
$887,001 - $1,183,000
0.0%
0.0%
$592,001 - $887,000
0.6%
0.6%
$473,001 - $592,000
1.8%
1.8%
$355,001 - $473,000
9.9%
9.9%
$236,001 - $355,000
23.1%
23.1%
$118,001 - $236,000
52.2%
52.2%
$60,001 - $118,000
10.1%
10.1%
$0 - $60,000
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IL

Value Relative To Nation

Number Of Homes And Apartments:
10,722

Carpentersville 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
36.81% 1.50%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,751 / per month

Homeownership Rate

Owners
70.2%
70.2%
Renters
29.8%
29.8%
Vacant
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.8%
23.8%
1970 - 1999
34.6%
34.6%
1940 - 1969
38.7%
38.7%
1939 or Older
2.9%
2.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.6%
68.6%
Townhomes
14.8%
14.8%
Small Apt. Buildings
4.2%
4.2%
Apt. Complexes
12.4%
12.4%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
4.1%
4.1%
2 Bedrooms
21.3%
21.3%
3 Bedrooms
47.7%
47.7%
4 Bedrooms
23.1%
23.1%
5 or more bedrooms
3.4%
3.4%
0.0% 100.0%
% OF HOMES