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 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

Grayslake Housing Market Information

With 20,915 people, 7,699 houses or apartments, and a median cost of homes of $241,782, 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 57.23% of the village's housing units. Other types of housing that are prevalent in Grayslake include row houses and other attached homes ( 19.94%), large apartment complexes or high rise apartments ( 18.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.39%).

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 69.19% of Grayslake's homes, and 62.22% 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 1940-1969 ( 16.86%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.68%). There's also some housing in Grayslake built before 1939 ( 4.28%).

Grayslake Home Appreciation Rates

Homes have actually lost value in Grayslake over the last then years, as home values have seen a decline of 20.66% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Grayslake home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, Grayslake's appreciation rate, at 3.64%, has been at or slightly above the national average. In the latest quarter, Grayslake's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

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:
$241,782

Grayslake, IL HOME PRICES

Value Range
> $1,125,000 0.5
$844,001 - $1,125,000 0.1
$562,001 - $844,000 1.4
$450,001 - $562,000 1.4
$338,001 - $450,000 12.0
$225,001 - $338,000 37.2
$113,001 - $225,000 42.4
$56,001 - $113,000 3.1
$0 - $56,000 1.8

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
23.7987812023907 15.8860759493671

Number Of Homes And Apartments:
7,699

Grayslake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
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
7.35% 0.41% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,650 / per month

Homeownership Rate

Homeownership
Owners 69.19
Renters 30.81
Vacant 0.66

Housing Market Details

 

Age of Homes

AGE OF Grayslake HOMES
2000 or Newer 16.7
1970 - 1999 62.2
1940 - 1969 16.9
1939 or Older 4.3

Types of Homes

TYPE OF Grayslake HOMES
Single-Family 57.2
Townhomes 19.9
Small Apt. Buildings 3.4
Apt. Complexes 19.0
Mobile Homes 0.2
Other 0.2

Home Size

SIZE OF Grayslake HOMES
No Bedroom 1.35
1 Bedroom 9.15
2 Bedrooms 25.15
3 Bedrooms 37.11
4 Bedrooms 25.11
5 or more bedrooms 2.13