Elk Grove Village, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elk Grove Village Neighborhoods Since 2000




Elk Grove Village, 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

Elk Grove Village Housing Market Information

With 33,238 people, 13,323 houses or apartments, and a median cost of homes of $231,899, Elk Grove Village real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Elk Grove Village, accounting for 58.74% of the village's housing units. Other types of housing that are prevalent in Elk Grove Village include large apartment complexes or high rise apartments ( 27.27%), row houses and other attached homes ( 10.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elk Grove Village. Owner-occupied housing accounts for 73.38% of Elk Grove Village's homes, and 57.36% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Elk Grove Village 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 Elk Grove Village built between 1940-1969 ( 37.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.83%). There's also some housing in Elk Grove Village built before 1939 ( 1.32%).

Elk Grove Village Home Appreciation Rates

Elk Grove Village's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elk Grove Village during the period has been just -2.07%, which is lower than 80% of US communities.

Over the last year, Elk Grove Village appreciation rates have trailed the rest of the nation. In the last twelve months, Elk Grove Village's appreciation rate has been 2.91%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elk Grove Village were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Elk Grove Village'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 Elk Grove Village differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elk Grove Village - 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 Elk Grove Village real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$231,899

Elk Grove Village, IL HOME PRICES

Value Range
> $1,099,000 0.1
$825,001 - $1,099,000 0.8
$550,001 - $825,000 2.9
$440,001 - $550,000 6.7
$330,001 - $440,000 19.1
$220,001 - $330,000 38.1
$110,001 - $220,000 23.5
$55,001 - $110,000 5.4
$0 - $55,000 3.4

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
25.5068557365522 18.3544303797468

Number Of Homes And Apartments:
13,323

Elk Grove Village 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
23.33% 1.22% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,511 / per month

Homeownership Rate

Homeownership
Owners 73.38
Renters 26.62
Vacant 3.33

Housing Market Details

 

Age of Homes

AGE OF Elk Grove Village HOMES
2000 or Newer 2.8
1970 - 1999 58.8
1940 - 1969 37.1
1939 or Older 1.3

Types of Homes

TYPE OF Elk Grove Village HOMES
Single-Family 58.7
Townhomes 10.0
Small Apt. Buildings 3.8
Apt. Complexes 27.3
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Elk Grove Village HOMES
No Bedroom 2.29
1 Bedroom 13.47
2 Bedrooms 23.52
3 Bedrooms 34.95
4 Bedrooms 22.41
5 or more bedrooms 3.37