Elmhurst, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elmhurst, 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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Elmhurst Housing Market Information

With 46,387 people, 15,816 houses or apartments, and a median cost of homes of $459,907, 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 76.77% of the city's housing units. Other types of housing that are prevalent in Elmhurst include large apartment complexes or high rise apartments ( 16.37%), row houses and other attached homes ( 4.53%), 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 Elmhurst. Owner-occupied housing accounts for 77.23% of Elmhurst's homes, and 63.75% 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 46.70% of the city's housing hails from this era. Other housing ages represented in Elmhurst include homes built between 1970-1999 ( 19.10%) and housing constructed before 1939 ( 17.72%). There's also some housing in Elmhurst built between 2000 and later ( 16.47%).

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 0.31% 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 3.45%, 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 1.56%, which equates to an annual appreciation rate of 6.39%.

Relative to Illinois, our data show that Elmhurst's latest annual appreciation rate is lower than 60% 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:
$459,907

Elmhurst, IL HOME PRICES

Value Range
> $1,143,000 6.2
$857,001 - $1,143,000 8.4
$571,001 - $857,000 19.8
$457,001 - $571,000 12.6
$343,001 - $457,000 23.9
$229,001 - $343,000 20.4
$114,001 - $229,000 5.9
$57,001 - $114,000 1.1
$0 - $57,000 1.8

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
8.28029197080292 4.17721518987342

Number Of Homes And Apartments:
15,816

Elmhurst Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
57.36% 2.48%
10
6
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,768 / per month

Homeownership Rate

Homeownership
Owners 77.23
Renters 22.77
Vacant 5.26

Housing Market Details

 

Age of Homes

AGE OF Elmhurst HOMES
2000 or Newer 16.5
1970 - 1999 19.1
1940 - 1969 46.7
1939 or Older 17.7

Types of Homes

TYPE OF Elmhurst HOMES
Single-Family 76.8
Townhomes 4.5
Small Apt. Buildings 2.3
Apt. Complexes 16.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elmhurst HOMES
No Bedroom 1.11
1 Bedroom 8.52
2 Bedrooms 17.44
3 Bedrooms 36.30
4 Bedrooms 27.45
5 or more bedrooms 9.18