Crest Hill, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Crest Hill Neighborhoods Since 2000




Crest Hill, 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

Crest Hill Housing Market Information

With 21,153 people, 7,116 houses or apartments, and a median cost of homes of $197,121, Crest Hill real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Crest Hill, accounting for 49.88% of the city's housing units. Other types of housing that are prevalent in Crest Hill include large apartment complexes or high rise apartments ( 23.15%), row houses and other attached homes ( 23.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.34%).

People in Crest Hill primarily live in small (one, two or no bedroom) single-family detached homes. Crest Hill has a mixture of owner-occupied and renter-occupied housing.

Crest Hill homes and real estate are some of the newest in America. 40.74% of Crest Hill's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Crest Hill real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.87%), and between 1940-1969 ( 21.24%). There's also some housing in Crest Hill built before 1939 ( 4.16%).

Crest Hill Home Appreciation Rates

Homes have actually lost value in Crest Hill over the last then years, as home values have seen a decline of 19.30% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Crest Hill home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in Crest Hill that despite a nationwide downturn in the housing market, Crest Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Crest Hill appreciation rates continue to be some of the highest in America, at 8.97%, which is higher than appreciation rates in 90.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Crest Hill. Crest Hill 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 Crest Hill'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 city. Individual neighborhoods within Crest Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Crest Hill - 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 Crest Hill real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$197,121

Crest Hill, IL HOME PRICES

Value Range
> $1,202,000 0.0
$902,001 - $1,202,000 0.0
$601,001 - $902,000 0.2
$481,001 - $601,000 0.1
$361,001 - $481,000 1.8
$240,001 - $361,000 21.9
$120,001 - $240,000 62.3
$60,001 - $120,000 10.7
$0 - $60,000 3.1

High for IL
High for Nation

Value Relative to Nation Value Relative to State
32.9661314895113 26.0759493670886

Number Of Homes And Apartments:
7,116

Crest Hill 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
17.27% 0.93% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,458 / per month

Homeownership Rate

Homeownership
Owners 55.43
Renters 44.57
Vacant 6.70

Housing Market Details

 

Age of Homes

AGE OF Crest Hill HOMES
2000 or Newer 40.7
1970 - 1999 33.9
1940 - 1969 21.2
1939 or Older 4.2

Types of Homes

TYPE OF Crest Hill HOMES
Single-Family 49.9
Townhomes 23.0
Small Apt. Buildings 3.3
Apt. Complexes 23.2
Mobile Homes 0.4
Other 0.2

Home Size

SIZE OF Crest Hill HOMES
No Bedroom 1.78
1 Bedroom 9.37
2 Bedrooms 46.34
3 Bedrooms 31.20
4 Bedrooms 9.91
5 or more bedrooms 1.39