Hoffman Estates, 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

Hoffman Estates Housing Market Information

With 50,932 people, 17,603 houses or apartments, and a median cost of homes of $263,324, Hoffman Estates real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hoffman Estates, accounting for 59.31% of the village's housing units. Other types of housing that are prevalent in Hoffman Estates include large apartment complexes or high rise apartments ( 21.75%), row houses and other attached homes ( 14.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hoffman Estates. Owner-occupied housing accounts for 74.69% of Hoffman Estates's homes, and 63.80% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hoffman Estates 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 Hoffman Estates built between 1940-1969 ( 26.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.07%). There's also some housing in Hoffman Estates built before 1939 ( 2.30%).

Hoffman Estates Home Appreciation Rates

Hoffman Estates's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hoffman Estates during the period has been just 1.73%, which is lower than 70% of US communities.

Over the last year, Hoffman Estates appreciation rates have trailed the rest of the nation. In the last twelve months, Hoffman Estates's appreciation rate has been 1.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hoffman Estates were at 1.05%, which equates to an annual appreciation rate of 4.29%.

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

Average Home Values

 
info

Median Home Value:
$263,324

Hoffman Estates, IL HOME PRICES

> $1,136,000
1.1%
1.1%
$852,001 - $1,136,000
1.3%
1.3%
$568,001 - $852,000
5.4%
5.4%
$454,001 - $568,000
7.0%
7.0%
$341,001 - $454,000
18.5%
18.5%
$227,001 - $341,000
30.2%
30.2%
$114,001 - $227,000
25.7%
25.7%
$57,001 - $114,000
8.1%
8.1%
$0 - $57,000
2.7%
2.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
17,603

Hoffman Estates 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
40.28% 1.64%
6
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,842 / per month

Homeownership Rate

Owners
74.7%
74.7%
Renters
25.3%
25.3%
Vacant
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
9.1%
9.1%
1970 - 1999
62.4%
62.4%
1940 - 1969
26.2%
26.2%
1939 or Older
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.3%
59.3%
Townhomes
14.3%
14.3%
Small Apt. Buildings
4.6%
4.6%
Apt. Complexes
21.8%
21.8%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
7.4%
7.4%
2 Bedrooms
22.1%
22.1%
3 Bedrooms
37.2%
37.2%
4 Bedrooms
26.5%
26.5%
5 or more bedrooms
5.0%
5.0%
0.0% 100.0%
% OF HOMES