Cicero, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cicero Neighborhoods Since 2000




Cicero, IL Real Estate Data


Cicero Housing Market Information

With a population of 83,886, 21,792 total housing units (homes and apartments), and a median house value of $160,254, Cicero real estate and house prices are near the national average for all cities and towns.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Cicero, accounting for 46.89% of the town's housing units. Other types of housing that are prevalent in Cicero include single-family detached homes ( 37.33%), large apartment complexes or high rise apartments ( 12.04%), and a few row houses and other attached homes ( 3.19%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

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 ( 66.61%), 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 ( 26.96%), followed by between 1970-1999 ( 5.06%). There's also some housing in Cicero built between 2000 and later ( 1.37%).

Vacant housing appears to be an issue in Cicero. Fully 12.26% 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 40.56% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cicero home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.

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 6.92%, which is higher than appreciation rates in 83.89% 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 1.63%, which equates to an annual appreciation rate of 6.69%.

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:
$160,254

Cicero, IL HOME PRICES

Value Range
> $1,197,000 0.1
$898,001 - $1,197,000 0.6
$598,001 - $898,000 1.0
$479,001 - $598,000 2.2
$359,001 - $479,000 2.9
$239,001 - $359,000 12.5
$120,001 - $239,000 52.8
$60,001 - $120,000 23.2
$0 - $60,000 4.7

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
46.6006909878784 39.3670886075949

Number Of Homes And Apartments:
21,792

Rent & Ownership

 

Average Market Rent:
$920 / per month

Homeownership Rate

Homeownership
Owners 50.68
Renters 49.32
Vacant 12.26

Housing Market Details

 

Age of Homes

AGE OF Cicero HOMES
2000 or Newer 1.4
1970 - 1999 5.1
1940 - 1969 27.0
1939 or Older 66.6

Types of Homes

TYPE OF Cicero HOMES
Single-Family 37.3
Townhomes 3.2
Small Apt. Buildings 46.9
Apt. Complexes 12.0
Mobile Homes 0.5
Other 0.1

Home Size

SIZE OF Cicero HOMES
No Bedroom 2.96
1 Bedroom 11.34
2 Bedrooms 37.07
3 Bedrooms 35.81
4 Bedrooms 8.36
5 or more bedrooms 4.46

Cicero Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2016 Q3
4.48% 0.26% 2 1
* 10 is highest