Cicero, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Cicero Neighborhoods Since 2000




Cicero, 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

Cicero Housing Market Information

With 83,886 people, 21,721 houses or apartments, and a median cost of homes of $178,945, Cicero real estate prices are well above average cost compared to national prices.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Cicero, accounting for 48.56% of the town's housing units. Other types of housing that are prevalent in Cicero include single-family detached homes ( 36.15%), large apartment complexes or high rise apartments ( 11.85%), and a few row houses and other attached homes ( 2.95%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns 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 Cicero primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Cicero has a mixture of owner-occupied and renter-occupied housing.

The housing in Cicero was primarily built before 1939 ( 65.18%), making the housing stock in Cicero some of the oldest overall in America, although there is a range of ages of homes in Cicero. The next most important housing age is between 1940-1969 ( 27.92%), followed by between 1970-1999 ( 5.03%). There's also some housing in Cicero built between 2000 and later ( 1.87%).

Vacant housing appears to be an issue in Cicero. Fully 12.25% of the housing stock is classified as vacant. Left unchecked, vacant Cicero homes and apartments can be a drag on the real estate market, holding Cicero 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.

Cicero Home Appreciation Rates

Homes have actually lost value in Cicero over the last then years, as home values have seen a decline of 35.30% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cicero home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in Cicero that despite a nationwide downturn in the housing market, Cicero real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cicero appreciation rates continue to be some of the highest in America, at 11.71%, which is higher than appreciation rates in 97.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cicero. Cicero appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Cicero's latest annual appreciation rate is higher than 90% 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 town. Individual neighborhoods within Cicero differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cicero - 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 Cicero real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$178,945

Cicero, IL HOME PRICES

Value Range
> $1,330,000 0.1
$997,001 - $1,330,000 0.8
$665,001 - $997,000 0.7
$532,001 - $665,000 0.6
$399,001 - $532,000 1.9
$266,001 - $399,000 10.2
$133,001 - $266,000 55.8
$67,001 - $133,000 25.2
$0 - $67,000 4.8

High for IL
High for Nation

Value Relative to Nation Value Relative to State
38.4858783546232 30.6329113924051

Number Of Homes And Apartments:
21,721

Cicero 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
15.26% 0.83% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,119 / per month

Homeownership Rate

Homeownership
Owners 48.80
Renters 51.20
Vacant 12.25

Housing Market Details

 

Age of Homes

AGE OF Cicero HOMES
2000 or Newer 1.9
1970 - 1999 5.0
1940 - 1969 27.9
1939 or Older 65.2

Types of Homes

TYPE OF Cicero HOMES
Single-Family 36.1
Townhomes 2.9
Small Apt. Buildings 48.6
Apt. Complexes 11.9
Mobile Homes 0.4
Other 0.1

Home Size

SIZE OF Cicero HOMES
No Bedroom 3.01
1 Bedroom 11.87
2 Bedrooms 35.74
3 Bedrooms 36.76
4 Bedrooms 8.52
5 or more bedrooms 4.11