Chicago Ridge, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Chicago Ridge Neighborhoods Since 2000




Chicago Ridge, 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

Chicago Ridge Housing Market Information

With a population of 14,373, 5,303 total housing units (homes and apartments), and a median house value of $181,059, Chicago Ridge real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Chicago Ridge, accounting for 54.19% of the village's housing units. Other types of housing that are prevalent in Chicago Ridge include single-family detached homes ( 35.18%), duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), and a few row houses and other attached homes ( 1.68%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Chicago Ridge primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Chicago Ridge has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Chicago Ridge 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 Chicago Ridge built between 1940-1969 ( 45.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.41%). There's also some housing in Chicago Ridge built before 1939 ( 1.43%).

Chicago Ridge Home Appreciation Rates

Homes have actually lost value in Chicago Ridge over the last then years, as home values have seen a decline of 25.13% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Chicago Ridge 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, Chicago Ridge's appreciation rate, at 5.16%, has been at or slightly above the national average. In the latest quarter, Chicago Ridge's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Chicago Ridge's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$181,059

Chicago Ridge, IL HOME PRICES

Value Range
> $1,125,000 0.4
$843,001 - $1,125,000 0.0
$562,001 - $843,000 0.6
$450,001 - $562,000 0.1
$337,001 - $450,000 2.8
$225,001 - $337,000 22.6
$112,001 - $225,000 52.2
$56,001 - $112,000 15.4
$0 - $56,000 5.8

High for IL
High for Nation

Value Relative to Nation Value Relative to State
37.7534278682761 29.873417721519

Number Of Homes And Apartments:
5,303

Chicago Ridge 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
18.62% 0.99% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,188 / per month

Homeownership Rate

Homeownership
Owners 49.45
Renters 50.55
Vacant 5.44

Housing Market Details

 

Age of Homes

AGE OF Chicago Ridge HOMES
2000 or Newer 3.4
1970 - 1999 49.4
1940 - 1969 45.7
1939 or Older 1.4

Types of Homes

TYPE OF Chicago Ridge HOMES
Single-Family 35.2
Townhomes 1.7
Small Apt. Buildings 9.0
Apt. Complexes 54.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Chicago Ridge HOMES
No Bedroom 0.68
1 Bedroom 14.98
2 Bedrooms 49.27
3 Bedrooms 21.97
4 Bedrooms 9.31
5 or more bedrooms 3.80