Flossmoor, 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 Q1 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

Flossmoor, IL Housing Market Trends

With 9,155 people, 3,460 houses or apartments, and a median cost of homes of $244,285, Flossmoor real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Flossmoor, accounting for 83.60% of the village's housing units. Other types of housing that are prevalent in Flossmoor include large apartment complexes or high rise apartments ( 8.06%), row houses and other attached homes ( 5.52%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Flossmoor. Owner-occupied housing accounts for 87.61% of Flossmoor's homes, and 74.97% 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. Flossmoor's housing was primarily built during this period, from the '40s through the '60s. A full 47.32% of the village's housing hails from this era. Other housing ages represented in Flossmoor include homes built between 1970-1999 ( 35.50%) and housing constructed before 1939 ( 10.39%). There's also some housing in Flossmoor built between 2000 and later ( 6.79%).

Flossmoor Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Flossmoor, where house values have increased just 11.54%, which is annualized rate of 1.10%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Flossmoor appreciation rates have trailed the rest of the nation. In the last twelve months, Flossmoor's appreciation rate has been 4.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Flossmoor were at 0.98%, which equates to an annual appreciation rate of 3.97%.

Notably, Flossmoor's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Flossmoor's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$244,285

Flossmoor, IL HOME PRICES

> $1,109,000
0.4%
0.4%
$831,001 - $1,109,000
0.4%
0.4%
$555,001 - $831,000
3.8%
3.8%
$443,001 - $555,000
4.5%
4.5%
$333,001 - $443,000
12.4%
12.4%
$221,001 - $333,000
24.1%
24.1%
$111,001 - $221,000
40.6%
40.6%
$55,001 - $111,000
11.7%
11.7%
$0 - $55,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for IL

Value Relative To Nation

Number Of Homes And Apartments:
3,460

Flossmoor Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
9.83% 0.44%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,801 / per month

Homeownership Rate

Owners
87.6%
87.6%
Renters
12.4%
12.4%
Vacant
6.4%
6.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.8%
6.8%
1970 - 1999
35.5%
35.5%
1940 - 1969
47.3%
47.3%
1939 or Older
10.4%
10.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
83.6%
83.6%
Townhomes
5.5%
5.5%
Small Apt. Buildings
2.8%
2.8%
Apt. Complexes
8.1%
8.1%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
0.9%
0.9%
2 Bedrooms
12.5%
12.5%
3 Bedrooms
43.3%
43.3%
4 Bedrooms
31.7%
31.7%
5 or more bedrooms
11.3%
11.3%
0.0% 100.0%
% OF HOMES