Cherry Valley, 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

Cherry Valley, IL Housing Market Trends

With 2,877 people, 1,171 houses or apartments, and a median cost of homes of $190,177, Cherry Valley 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 Cherry Valley, accounting for 59.56% of the village's housing units. Other types of housing that are prevalent in Cherry Valley include large apartment complexes or high rise apartments ( 17.10%), row houses and other attached homes ( 13.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.56%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cherry Valley. Owner-occupied housing accounts for 69.83% of Cherry Valley's homes, and 56.48% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cherry Valley 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 Cherry Valley built between 2000 and later ( 30.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.96%). There's also some housing in Cherry Valley built before 1939 ( 7.13%).

Cherry Valley Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Cherry Valley, where house values have increased just 9.28%, which is annualized rate of 0.89%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Cherry Valley appreciation rates have trailed the rest of the nation. In the last twelve months, Cherry Valley's appreciation rate has been 3.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cherry Valley were at 2.75%, which equates to an annual appreciation rate of 11.46%.

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

Average Home Values

 

Median Home Value:
$190,177

Cherry Valley, IL HOME PRICES

> $1,172,000
0.1%
0.1%
$879,001 - $1,172,000
0.1%
0.1%
$586,001 - $879,000
0.6%
0.6%
$469,001 - $586,000
1.1%
1.1%
$352,001 - $469,000
5.3%
5.3%
$235,001 - $352,000
19.8%
19.8%
$117,001 - $235,000
62.0%
62.0%
$59,001 - $117,000
8.6%
8.6%
$0 - $59,000
2.5%
2.5%
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:
1,171

Cherry Valley 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
18.10% 0.80%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,268 / per month

Homeownership Rate

Owners
69.8%
69.8%
Renters
30.2%
30.2%
Vacant
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
30.6%
30.6%
1970 - 1999
46.4%
46.4%
1940 - 1969
16.0%
16.0%
1939 or Older
7.1%
7.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.6%
59.6%
Townhomes
13.8%
13.8%
Small Apt. Buildings
9.6%
9.6%
Apt. Complexes
17.1%
17.1%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.5%
5.5%
1 Bedroom
9.2%
9.2%
2 Bedrooms
26.1%
26.1%
3 Bedrooms
41.2%
41.2%
4 Bedrooms
15.2%
15.2%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Cherry Valley

Zip Codes in Cherry Valley, IL