Downers Grove, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Downers Grove Neighborhoods Since 2000




Downers Grove, 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

Downers Grove Housing Market Information

With a population of 49,732, 19,579 total housing units (homes and apartments), and a median house value of $383,960, 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 62.61% of the village's housing units. Other types of housing that are prevalent in Downers Grove include large apartment complexes or high rise apartments ( 27.00%), row houses and other attached homes ( 8.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.29%).

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 74.66% of Downers Grove's homes, and 55.58% 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 ( 36.24%). A lesser amount of the housing stock also hails from before 1939 ( 10.04%). There's also some housing in Downers Grove built between 2000 and later ( 8.54%).

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 -0.85%, which is lower than 70% of US communities.

Over the last year, Downers Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Downers Grove's appreciation rate has been 2.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Downers Grove were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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:
$383,960

Downers Grove, IL HOME PRICES

Value Range
> $1,111,000 3.0
$834,001 - $1,111,000 3.4
$556,001 - $834,000 12.2
$445,001 - $556,000 12.3
$334,001 - $445,000 23.7
$222,001 - $334,000 22.8
$111,001 - $222,000 15.4
$55,001 - $111,000 4.8
$0 - $55,000 2.3

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
10.2074299777335 6.45569620253165

Number Of Homes And Apartments:
19,579

Downers Grove 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
45.52% 2.20% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,477 / per month

Homeownership Rate

Homeownership
Owners 74.66
Renters 25.34
Vacant 5.38

Housing Market Details

 

Age of Homes

AGE OF Downers Grove HOMES
2000 or Newer 8.5
1970 - 1999 45.2
1940 - 1969 36.2
1939 or Older 10.0

Types of Homes

TYPE OF Downers Grove HOMES
Single-Family 62.6
Townhomes 8.0
Small Apt. Buildings 2.3
Apt. Complexes 27.0
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Downers Grove HOMES
No Bedroom 0.66
1 Bedroom 12.97
2 Bedrooms 24.61
3 Bedrooms 30.73
4 Bedrooms 24.85
5 or more bedrooms 6.19