Homer Glen, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Homer Glen, IL Housing Market Trends

With a population of 24,472, 8,190 total housing units (homes and apartments), and a median house value of $347,211, Homer Glen real estate is some of the most expensive in Illinois, although Homer Glen home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Homer Glen, accounting for 90.49% of the village's housing units. Other types of housing that are prevalent in Homer Glen include large apartment complexes or high rise apartments ( 4.33%), row houses and other attached homes ( 4.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Homer Glen. Owner-occupied housing accounts for 93.18% of Homer Glen's homes, and 83.06% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Homer Glen 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 Homer Glen built between 2000 and later ( 19.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.58%).

Homer Glen Home Appreciation Rates

Homer Glen's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Homer Glen during the period has been just 2.09%, which is lower than 80% of US communities.

Over the last year, Homer Glen appreciation rates have trailed the rest of the nation. In the last twelve months, Homer Glen's appreciation rate has been 4.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer Glen were at 1.88%, which equates to an annual appreciation rate of 7.75%.

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

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

Average Home Values

 

Median Home Value:
$347,211

Homer Glen, IL HOME PRICES

> $1,114,000
1.1%
1.1%
$836,001 - $1,114,000
1.3%
1.3%
$557,001 - $836,000
7.7%
7.7%
$445,001 - $557,000
13.3%
13.3%
$334,001 - $445,000
33.6%
33.6%
$223,001 - $334,000
35.4%
35.4%
$111,001 - $223,000
5.0%
5.0%
$56,001 - $111,000
0.4%
0.4%
$0 - $56,000
2.2%
2.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
8,190

Homer Glen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
38.74% 1.53%
5
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,343 / per month

Homeownership Rate

Owners
93.2%
93.2%
Renters
6.8%
6.8%
Vacant
3.6%
3.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.8%
19.8%
1970 - 1999
71.7%
71.7%
1940 - 1969
7.6%
7.6%
1939 or Older
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
90.5%
90.5%
Townhomes
4.2%
4.2%
Small Apt. Buildings
0.6%
0.6%
Apt. Complexes
4.3%
4.3%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
1.8%
1.8%
2 Bedrooms
6.4%
6.4%
3 Bedrooms
42.9%
42.9%
4 Bedrooms
40.1%
40.1%
5 or more bedrooms
8.2%
8.2%
0.0% 100.0%
% OF HOMES