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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hoffman Estates, IL Real Estate Market

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 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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, IL Housing Market Trends

With a population of 50,682, 18,372 total housing units (homes and apartments), and a median house value of $422,233, Hoffman Estates real estate is some of the most expensive in Illinois, although Hoffman Estates home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Hoffman Estates, accounting for 60.59% of the village's housing units. Other types of housing that are prevalent in Hoffman Estates include large apartment complexes or high rise apartments ( 19.38%), row houses and other attached homes ( 15.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.83%).

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 73.72% of Hoffman Estates's homes, and 65.29% 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 ( 29.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.96%). There's also some housing in Hoffman Estates built before 1939 ( 1.19%).

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 5.49%, which is lower than 70% of US communities.

Appreciation rates are so strong in Hoffman Estates that despite a nationwide downturn in the housing market, Hoffman Estates real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hoffman Estates appreciation rates continue to be some of the highest in America, at 12.02%, which is higher than appreciation rates in 72.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hoffman Estates. Hoffman Estates appreciation rates in the latest quarter were at 1.97%, which equates to an annual appreciation rate of 8.13%.

Relative to Illinois, our data show that Hoffman Estates'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 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

$422,233

Hoffman Estates, IL Home Prices
> $1,305,000
$979,001 - $1,305,000
$652,001 - $979,000
$522,001 - $652,000
$391,001 - $522,000
$261,001 - $391,000
$130,001 - $261,000
$65,001 - $130,000
$0 - $65,000
1.0%
1.0%
2.3%
2.3%
8.1%
8.1%
16.1%
16.1%
25.2%
25.2%
25.3%
25.3%
19.2%
19.2%
1.4%
1.4%
1.5%
1.5%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

18,372

Hoffman Estates Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,840 / per month

Homeownership Rate

Owners
Renters
73.7%
73.7%
26.3%
26.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.9%
4.9%
95.1%
95.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.0%
11.0%
58.6%
58.6%
29.3%
29.3%
1.2%
1.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.6%
60.6%
15.0%
15.0%
4.8%
4.8%
19.4%
19.4%
0.1%
0.1%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
8.2%
8.2%
21.1%
21.1%
42.8%
42.8%
22.5%
22.5%
4.7%
4.7%
0% 100.0%
% of Homes