menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Downers Grove, IL Real Estate Market

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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Downers Grove, IL Housing Market Trends

With 49,354 people, 20,382 houses or apartments, and a median cost of homes of $489,562, Downers Grove real estate is some of the most expensive in Illinois, although Downers Grove home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Downers Grove, accounting for 61.99% of the village's housing units. Other types of housing that are prevalent in Downers Grove include large apartment complexes or high rise apartments ( 28.37%), row houses and other attached homes ( 6.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Downers Grove. Owner-occupied housing accounts for 74.85% of Downers Grove's homes, and 56.52% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Downers Grove 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 Downers Grove built between 1940-1969 ( 32.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.69%). There's also some housing in Downers Grove built before 1939 ( 9.26%).

Downers Grove Home Appreciation Rates

Downers Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Downers Grove during the period has been just 4.18%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Downers Grove's appreciation rate, at 3.95%, has been at or slightly above the national average. In the latest quarter, Downers Grove's appreciation rate has been 3.94%, which annualizes to a rate of 16.70%.

Relative to Illinois, our data show that Downers Grove's latest annual appreciation rate is higher than 50% 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 village. Individual neighborhoods within Downers Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Downers Grove - 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 Downers Grove real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$489,562

Downers Grove, IL Home Prices
> $1,259,000
$945,001 - $1,259,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$252,001 - $378,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
2.4%
2.4%
5.0%
5.0%
16.4%
16.4%
16.4%
16.4%
27.6%
27.6%
15.9%
15.9%
12.9%
12.9%
2.6%
2.6%
0.7%
0.7%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

20,382

Downers Grove Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,758 / per month

Homeownership Rate

Owners
Renters
Vacant
74.8%
74.8%
25.2%
25.2%
4.7%
4.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.7%
11.7%
46.7%
46.7%
32.4%
32.4%
9.3%
9.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.0%
62.0%
6.6%
6.6%
2.4%
2.4%
28.4%
28.4%
0.7%
0.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.9%
1.9%
13.3%
13.3%
22.0%
22.0%
29.9%
29.9%
26.6%
26.6%
6.3%
6.3%
0% 100.0%
% of Homes