Hoffman Estates IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 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

Hoffman Estates Housing Market Information

With 51,197 people, 17,603 houses or apartments, and a median cost of homes of $261,520, 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 1.69%, 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 1.71%, 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 0.04%, which equates to an annual appreciation rate of 0.15%.

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

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

 

Median Home Value:
$261,520

Hoffman Estates, IL HOME PRICES

Value Range
> $1,128,000 1.1
$846,001 - $1,128,000 1.3
$564,001 - $846,000 5.4
$451,001 - $564,000 7.0
$339,001 - $451,000 18.5
$226,001 - $339,000 30.2
$113,001 - $226,000 25.7
$57,001 - $113,000 8.1
$0 - $57,000 2.7

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
27.1357664233577 16.4556962025316

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 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
39.31% 1.63%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,817 / per month

Homeownership Rate

Homeownership
Owners 74.69
Renters 25.31
Vacant 4.59

Housing Market Details

 

Age of Homes

AGE OF Hoffman Estates HOMES
2000 or Newer 9.1
1970 - 1999 62.4
1940 - 1969 26.2
1939 or Older 2.3

Types of Homes

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

Home Size

SIZE OF Hoffman Estates HOMES
No Bedroom 1.75
1 Bedroom 7.41
2 Bedrooms 22.08
3 Bedrooms 37.25
4 Bedrooms 26.55
5 or more bedrooms 4.97