Highland Park IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Highland 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Highland Park Housing Market Information

With 29,515 people, 11,564 houses or apartments, and a median cost of homes of $625,159, Highland Park house prices are not only among the most expensive in Illinois, Highland Park 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 Highland Park, accounting for 76.59% of the city's housing units. Other types of housing that are prevalent in Highland Park include large apartment complexes or high rise apartments ( 14.72%), row houses and other attached homes ( 5.44%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.25%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Highland Park. Owner-occupied housing accounts for 82.46% of Highland Park's homes, and 63.63% 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. Highland Park's housing was primarily built during this period, from the '40s through the '60s. A full 38.11% of the city's housing hails from this era. Other housing ages represented in Highland Park include homes built between 1970-1999 ( 28.80%) and housing constructed before 1939 ( 21.65%). There's also some housing in Highland Park built between 2000 and later ( 11.44%).

Highland Park Home Appreciation Rates

Highland Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Highland Park during the period has been just 0.83%, which is lower than 80% of US communities.

Over the last year, Highland Park appreciation rates have trailed the rest of the nation. In the last twelve months, Highland Park's appreciation rate has been 2.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Highland Park were at 1.05%, which equates to an annual appreciation rate of 4.27%.

Relative to Illinois, our data show that Highland Park'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 Highland Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Highland 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 Highland Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$625,159

Highland Park, IL HOME PRICES

Value Range
> $1,067,000 14.9
$801,001 - $1,067,000 15.5
$534,001 - $801,000 28.9
$427,001 - $534,000 15.2
$320,001 - $427,000 13.1
$213,001 - $320,000 7.9
$107,001 - $213,000 3.4
$53,001 - $107,000 0.4
$0 - $53,000 0.7

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
4.77080291970803 2.15189873417722

Number Of Homes And Apartments:
11,564

Highland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
29.96% 1.27%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,663 / per month

Homeownership Rate

Homeownership
Owners 82.46
Renters 17.54
Vacant 6.88

Housing Market Details

 

Age of Homes

AGE OF Highland Park HOMES
2000 or Newer 11.4
1970 - 1999 28.8
1940 - 1969 38.1
1939 or Older 21.6

Types of Homes

TYPE OF Highland Park HOMES
Single-Family 76.6
Townhomes 5.4
Small Apt. Buildings 3.3
Apt. Complexes 14.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Highland Park HOMES
No Bedroom 0.95
1 Bedroom 4.37
2 Bedrooms 15.61
3 Bedrooms 30.18
4 Bedrooms 33.44
5 or more bedrooms 15.45