Grayslake IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Grayslake, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Grayslake Housing Market Information

With 20,957 people, 7,782 houses or apartments, and a median cost of homes of $258,900, Grayslake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grayslake, accounting for 59.86% of the village's housing units. Other types of housing that are prevalent in Grayslake include large apartment complexes or high rise apartments ( 19.09%), row houses and other attached homes ( 18.54%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.18%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grayslake. Owner-occupied housing accounts for 69.59% of Grayslake's homes, and 62.18% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Grayslake 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 Grayslake built between 2000 and later ( 17.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.41%). There's also some housing in Grayslake built before 1939 ( 4.39%).

Grayslake Home Appreciation Rates

Grayslake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grayslake during the period has been just 0.04%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Grayslake's appreciation rate, at 3.18%, has been at or slightly above the national average. In the latest quarter, Grayslake's appreciation rate has been 1.12%, which annualizes to a rate of 4.55%.

Relative to Illinois, our data show that Grayslake's latest annual appreciation rate is higher than 70% 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 Grayslake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grayslake - 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 Grayslake real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$258,900

Grayslake, IL HOME PRICES

Value Range
> $1,179,000 0.7
$884,001 - $1,179,000 0.4
$589,001 - $884,000 2.0
$471,001 - $589,000 3.0
$354,001 - $471,000 12.4
$236,001 - $354,000 38.1
$118,001 - $236,000 37.7
$59,001 - $118,000 3.3
$0 - $59,000 2.4

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
25.3459854014599 16.5189873417722

Number Of Homes And Apartments:
7,782

Grayslake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
18.15% 0.86%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,914 / per month

Homeownership Rate

Homeownership
Owners 69.59
Renters 30.41
Vacant 1.59

Housing Market Details

 

Age of Homes

AGE OF Grayslake HOMES
2000 or Newer 17.4
1970 - 1999 61.8
1940 - 1969 16.4
1939 or Older 4.4

Types of Homes

TYPE OF Grayslake HOMES
Single-Family 59.9
Townhomes 18.5
Small Apt. Buildings 2.2
Apt. Complexes 19.1
Mobile Homes 0.1
Other 0.2

Home Size

SIZE OF Grayslake HOMES
No Bedroom 2.26
1 Bedroom 8.21
2 Bedrooms 24.73
3 Bedrooms 36.70
4 Bedrooms 25.48
5 or more bedrooms 2.62