Homewood, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Homewood Neighborhoods Since 2000




Homewood, 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

Homewood Housing Market Information

With a population of 19,373, 7,263 total housing units (homes and apartments), and a median house value of $182,738, Homewood real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Homewood, accounting for 73.98% of the village's housing units. Other types of housing that are prevalent in Homewood include large apartment complexes or high rise apartments ( 16.41%), duplexes, homes converted to apartments or other small apartment buildings ( 7.28%), and a few row houses and other attached homes ( 1.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Homewood. Owner-occupied housing accounts for 75.70% of Homewood's homes, and 60.68% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Homewood's housing was primarily built during this period, from the '40s through the '60s. A full 53.70% of the village's housing hails from this era. Other housing ages represented in Homewood include homes built between 1970-1999 ( 32.48%) and housing constructed before 1939 ( 10.96%). There's also some housing in Homewood built between 2000 and later ( 2.86%).

Homewood Home Appreciation Rates

Homes have actually lost value in Homewood over the last then years, as home values have seen a decline of 26.85% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Homewood home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, Homewood's appreciation rate, at 3.68%, has been at or slightly above the national average. In the latest quarter, Homewood's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Homewood's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$182,738

Homewood, IL HOME PRICES

Value Range
> $1,084,000 0.6
$813,001 - $1,084,000 0.1
$542,001 - $813,000 0.6
$434,001 - $542,000 1.0
$325,001 - $434,000 4.1
$217,001 - $325,000 20.8
$109,001 - $217,000 52.3
$54,001 - $109,000 15.2
$0 - $54,000 5.4

High for IL
High for Nation

Value Relative to Nation Value Relative to State
37.2143443103246 29.493670886076

Number Of Homes And Apartments:
7,263

Homewood 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
3.56% 0.20% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,711 / per month

Homeownership Rate

Homeownership
Owners 75.70
Renters 24.30
Vacant 6.45

Housing Market Details

 

Age of Homes

AGE OF Homewood HOMES
2000 or Newer 2.9
1970 - 1999 32.5
1940 - 1969 53.7
1939 or Older 11.0

Types of Homes

TYPE OF Homewood HOMES
Single-Family 74.0
Townhomes 1.9
Small Apt. Buildings 7.3
Apt. Complexes 16.4
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Homewood HOMES
No Bedroom 1.69
1 Bedroom 5.90
2 Bedrooms 28.30
3 Bedrooms 32.16
4 Bedrooms 28.52
5 or more bedrooms 3.44