Downers Grove, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Downers Grove, IL Real Estate Data


Downers Grove Housing Market Information

With a population of 49,732, 19,018 total housing units (homes and apartments), and a median house value of $381,356, Downers Grove house prices are not only among the most expensive in Illinois, Downers Grove real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Downers Grove, accounting for 64.02% of the village's housing units. Other types of housing that are prevalent in Downers Grove include large apartment complexes or high rise apartments ( 26.21%), row houses and other attached homes ( 7.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.89%).

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 75.96% of Downers Grove's homes, and 57.78% 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 ( 35.71%). A lesser amount of the housing stock also hails from before 1939 ( 9.65%). There's also some housing in Downers Grove built between 2000 and later ( 9.02%).

Downers Grove Home Appreciation Rates

Real estate appreciation rates in Downers Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.52% during the period.

NeighborhoodScout's data show that during the latest twelve months, Downers Grove's appreciation rate, at 4.89%, has been at or slightly above the national average. In the latest quarter, Downers Grove's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

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:
$381,356

Downers Grove, IL HOME PRICES

Value Range
> $1,154,000 2.9
$866,001 - $1,154,000 3.4
$577,001 - $866,000 12.7
$462,001 - $577,000 12.2
$346,001 - $462,000 23.6
$231,001 - $346,000 22.3
$115,001 - $231,000 15.7
$58,001 - $115,000 4.5
$0 - $58,000 2.8

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
10.610763014581 6.83544303797468

Number Of Homes And Apartments:
19,018

Rent & Ownership

 

Average Market Rent:
$1,321 / per month

Homeownership Rate

Homeownership
Owners 75.96
Renters 24.04
Vacant 5.66

Housing Market Details

 

Age of Homes

AGE OF Downers Grove HOMES
2000 or Newer 9.0
1970 - 1999 45.6
1940 - 1969 35.7
1939 or Older 9.6

Types of Homes

TYPE OF Downers Grove HOMES
Single-Family 64.0
Townhomes 7.8
Small Apt. Buildings 1.9
Apt. Complexes 26.2
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Downers Grove HOMES
No Bedroom 0.76
1 Bedroom 12.55
2 Bedrooms 22.85
3 Bedrooms 32.13
4 Bedrooms 25.65
5 or more bedrooms 6.06

Downers Grove 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
50.17% 2.42% 10 6
* 10 is highest