With a population of 30,284, 10,341 total housing units (homes and apartments), and a median house value of $120,500, house prices in Chicago Heights are solidly below the national average.
Single-family detached homes are the single most common housing type in Chicago Heights, accounting for 67.94% of the city's housing units. Other types of housing that are prevalent in Chicago Heights include duplexes, homes converted to apartments or other small apartment buildings ( 18.11%), large apartment complexes or high rise apartments ( 11.43%), and a few row houses and other attached homes ( 2.05%).
The most prevalent building size and type in Chicago Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.60% owning and 42.40% 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. Chicago Heights's housing was primarily built during this period, from the '40s through the '60s. A full 55.85% of the city's housing hails from this era. Other housing ages represented in Chicago Heights include homes built before 1939 ( 21.42%) and housing constructed between 1970-1999 ( 19.06%). There's also some housing in Chicago Heights built between 2000 and later ( 3.67%).
Vacant housing appears to be an issue in Chicago Heights. Fully 15.63% of the housing stock is classified as vacant. Left unchecked, vacant Chicago Heights homes and apartments can be a drag on the real estate market, holding Chicago Heights 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.
Homes have actually lost value in Chicago Heights over the last then years, as home values have seen a decline of 26.40% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Chicago Heights home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.
NeighborhoodScout's data show that during the latest twelve months, Chicago Heights's appreciation rate, at 5.05%, has been at or slightly above the national average. In the latest quarter, Chicago Heights's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.
Relative to Illinois, our data show that Chicago Heights's latest annual appreciation rate is higher than 60% 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 Chicago Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chicago Heights - 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 Chicago Heights real estate investment or home purchase decisions.
|$807,001 - $1,076,000||0.2|
|$538,001 - $807,000||0.5|
|$430,001 - $538,000||0.6|
|$323,001 - $430,000||2.9|
|$215,001 - $323,000||6.0|
|$108,001 - $215,000||45.1|
|$54,001 - $108,000||34.7|
|$0 - $54,000||9.4|
|Value Relative to Nation||Value Relative to State|
|AGE OF Chicago Heights HOMES|
|2000 or Newer||3.7|
|1970 - 1999||19.1|
|1940 - 1969||55.9|
|1939 or Older||21.4|
|TYPE OF Chicago Heights HOMES|
|Small Apt. Buildings||18.1|
|SIZE OF Chicago Heights HOMES|
|5 or more bedrooms||1.84|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|