Homer Glen, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Homer Glen Neighborhoods Since 2000




Homer Glen, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Homer Glen Housing Market Information

With a population of 24,395, 8,330 total housing units (homes and apartments), and a median house value of $316,727, Homer Glen house prices are not only among the most expensive in Illinois, Homer Glen 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 Homer Glen, accounting for 89.40% of the village's housing units. Other types of housing that are prevalent in Homer Glen include row houses and other attached homes ( 5.37%), large apartment complexes or high rise apartments ( 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 Homer Glen. Owner-occupied housing accounts for 93.15% of Homer Glen's homes, and 80.54% 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 ( 18.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.96%). There's also some housing in Homer Glen built before 1939 ( 1.55%).

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 -1.95%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Homer Glen's appreciation rate, at 4.16%, has been at or slightly above the national average. In the latest quarter, Homer Glen's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Homer Glen'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 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:
$316,727

Homer Glen, IL HOME PRICES

Value Range
> $1,115,000 0.4
$836,001 - $1,115,000 1.0
$557,001 - $836,000 7.4
$446,001 - $557,000 8.0
$334,001 - $446,000 27.9
$223,001 - $334,000 41.0
$111,001 - $223,000 10.6
$56,001 - $111,000 0.8
$0 - $56,000 2.9

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
14.8833938825735 8.9873417721519

Number Of Homes And Apartments:
8,330

Homer Glen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
21.65% 1.14% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,777 / per month

Homeownership Rate

Homeownership
Owners 93.15
Renters 6.85
Vacant 2.69

Housing Market Details

 

Age of Homes

AGE OF Homer Glen HOMES
2000 or Newer 18.7
1970 - 1999 70.8
1940 - 1969 9.0
1939 or Older 1.6

Types of Homes

TYPE OF Homer Glen HOMES
Single-Family 89.4
Townhomes 5.4
Small Apt. Buildings 0.5
Apt. Complexes 4.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Homer Glen HOMES
No Bedroom 1.19
1 Bedroom 1.17
2 Bedrooms 8.98
3 Bedrooms 41.71
4 Bedrooms 38.83
5 or more bedrooms 8.12