Elmwood Park, IL


Highest Appreciating Elmwood Park Neighborhoods Since 2000

Elmwood Park, 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

Elmwood Park Housing Market Information

With a population of 24,840, 9,073 total housing units (homes and apartments), and a median house value of $234,487, Elmwood Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Elmwood Park, accounting for 52.42% of the village's housing units. Other types of housing that are prevalent in Elmwood Park include large apartment complexes or high rise apartments ( 25.34%), duplexes, homes converted to apartments or other small apartment buildings ( 21.64%).

Dwellings in Elmwood Park tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.05% of the homes in Elmwood Park have two or fewer bedrooms.

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. Elmwood Park's housing was primarily built during this period, from the '40s through the '60s. A full 53.79% of the village's housing hails from this era. Other housing ages represented in Elmwood Park include homes built before 1939 ( 26.33%) and housing constructed between 1970-1999 ( 16.48%). There's also some housing in Elmwood Park built between 2000 and later ( 3.41%).

Elmwood Park Home Appreciation Rates

Homes have actually lost value in Elmwood Park over the last then years, as home values have seen a decline of 25.88% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Elmwood Park home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in Elmwood Park that despite a nationwide downturn in the housing market, Elmwood Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elmwood Park appreciation rates continue to be some of the highest in America, at 6.57%, which is higher than appreciation rates in 78.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elmwood Park. Elmwood Park appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Elmwood Park's latest annual appreciation rate is higher than 90% 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 Elmwood Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elmwood Park - 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 Elmwood Park real estate investment or home purchase decisions.

Average Home Values


Median Home Value:

Elmwood Park, IL HOME PRICES

Value Range
> $1,185,000 0.1
$889,001 - $1,185,000 0.4
$592,001 - $889,000 2.7
$474,001 - $592,000 5.1
$355,001 - $474,000 11.3
$237,001 - $355,000 34.4
$118,001 - $237,000 31.0
$59,001 - $118,000 8.9
$0 - $59,000 6.0

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
24.9794913863823 17.3417721518987

Number Of Homes And Apartments:

Elmwood Park Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
21.39% 1.13% 5 2
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,224 / per month

Homeownership Rate

Owners 67.31
Renters 32.69
Vacant 7.42

Housing Market Details


Age of Homes

AGE OF Elmwood Park HOMES
2000 or Newer 3.4
1970 - 1999 16.5
1940 - 1969 53.8
1939 or Older 26.3

Types of Homes

TYPE OF Elmwood Park HOMES
Single-Family 52.4
Townhomes 0.6
Small Apt. Buildings 21.6
Apt. Complexes 25.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elmwood Park HOMES
No Bedroom 2.68
1 Bedroom 12.74
2 Bedrooms 36.62
3 Bedrooms 31.37
4 Bedrooms 13.57
5 or more bedrooms 3.01