Elmhurst, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Elmhurst, IL Housing Market Trends

With 45,786 people, 16,209 houses or apartments, and a median cost of homes of $538,821, Elmhurst house prices are not only among the most expensive in Illinois, Elmhurst 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 Elmhurst, accounting for 76.55% of the city's housing units. Other types of housing that are prevalent in Elmhurst include large apartment complexes or high rise apartments ( 18.08%), row houses and other attached homes ( 3.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elmhurst. Owner-occupied housing accounts for 78.66% of Elmhurst's homes, and 63.52% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elmhurst's housing was primarily built during this period, from the '40s through the '60s. A full 44.36% of the city's housing hails from this era. Other housing ages represented in Elmhurst include homes built between 1970-1999 ( 21.46%) and housing constructed between 2000 and later ( 17.73%). There's also some housing in Elmhurst built before 1939 ( 16.46%).

Elmhurst Home Appreciation Rates

Real estate appreciation rates in Elmhurst's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.34% during the period.

Over the last year, Elmhurst appreciation rates have trailed the rest of the nation. In the last twelve months, Elmhurst's appreciation rate has been 9.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elmhurst were at 4.63%, which equates to an annual appreciation rate of 19.86%.

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

Average Home Values

 

Median Home Value:
$538,821

Elmhurst, IL HOME PRICES

> $1,180,000
7.8%
7.8%
$885,001 - $1,180,000
11.6%
11.6%
$590,001 - $885,000
20.9%
20.9%
$472,001 - $590,000
17.1%
17.1%
$354,001 - $472,000
22.1%
22.1%
$236,001 - $354,000
14.5%
14.5%
$118,001 - $236,000
4.1%
4.1%
$59,001 - $118,000
0.8%
0.8%
$0 - $59,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
16,209

Elmhurst Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
79.86% 2.74%
10
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,241 / per month

Homeownership Rate

Owners
78.7%
78.7%
Renters
21.3%
21.3%
Vacant
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.7%
17.7%
1970 - 1999
21.5%
21.5%
1940 - 1969
44.4%
44.4%
1939 or Older
16.5%
16.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.6%
76.6%
Townhomes
3.5%
3.5%
Small Apt. Buildings
1.8%
1.8%
Apt. Complexes
18.1%
18.1%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
8.6%
8.6%
2 Bedrooms
16.0%
16.0%
3 Bedrooms
36.3%
36.3%
4 Bedrooms
27.2%
27.2%
5 or more bedrooms
10.7%
10.7%
0.0% 100.0%
% OF HOMES