Justice, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Justice Neighborhoods Since 2000




Justice, 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

Justice Housing Market Information

With a population of 12,968, 4,421 total housing units (homes and apartments), and a median house value of $172,171, Justice real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Justice, accounting for 43.86% of the village's housing units. Other types of housing that are prevalent in Justice include single-family detached homes ( 34.56%), row houses and other attached homes ( 13.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.39%). This particular housing mix is relatively uncommon and characteristic of villages that are compact and walkable, and which often have a lively downtown.

People in Justice primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Justice has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Justice 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 Justice built between 1940-1969 ( 26.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.42%). There's also some housing in Justice built before 1939 ( 2.76%).

Vacant housing appears to be an issue in Justice. Fully 12.73% of the housing stock is classified as vacant. Left unchecked, vacant Justice homes and apartments can be a drag on the real estate market, holding Justice real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Justice Home Appreciation Rates

Homes have actually lost value in Justice over the last then years, as home values have seen a decline of 28.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Justice 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, Justice's appreciation rate, at 3.19%, has been at or slightly above the national average. In the latest quarter, Justice's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Justice's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$172,171

Justice, IL HOME PRICES

Value Range
> $1,124,000 0.2
$843,001 - $1,124,000 0.8
$562,001 - $843,000 1.3
$450,001 - $562,000 1.1
$337,001 - $450,000 11.1
$225,001 - $337,000 18.3
$112,001 - $225,000 45.8
$56,001 - $112,000 7.4
$0 - $56,000 13.9

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
40.8121410992617 32.0253164556962

Number Of Homes And Apartments:
4,421

Justice 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
12.61% 0.69% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,141 / per month

Homeownership Rate

Homeownership
Owners 51.35
Renters 48.65
Vacant 12.73

Housing Market Details

 

Age of Homes

AGE OF Justice HOMES
2000 or Newer 12.4
1970 - 1999 57.9
1940 - 1969 26.9
1939 or Older 2.8

Types of Homes

TYPE OF Justice HOMES
Single-Family 34.6
Townhomes 13.6
Small Apt. Buildings 5.4
Apt. Complexes 43.9
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Justice HOMES
No Bedroom 0.20
1 Bedroom 8.07
2 Bedrooms 42.18
3 Bedrooms 39.04
4 Bedrooms 8.65
5 or more bedrooms 1.86