La Grange Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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La Grange Park, IL Real Estate Data


La Grange Park Housing Market Information

With a population of 13,608, 5,297 total housing units (homes and apartments), and a median house value of $325,012, La Grange Park house prices are not only among the most expensive in Illinois, La Grange Park 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 La Grange Park, accounting for 63.21% of the village's housing units. Other types of housing that are prevalent in La Grange Park include large apartment complexes or high rise apartments ( 24.28%), duplexes, homes converted to apartments or other small apartment buildings ( 10.44%), and a few row houses and other attached homes ( 2.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in La Grange Park. Owner-occupied housing accounts for 67.30% of La Grange Park's homes, and 49.96% 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. La Grange Park's housing was primarily built during this period, from the '40s through the '60s. A full 66.95% of the village's housing hails from this era. Other housing ages represented in La Grange Park include homes built between 1970-1999 ( 14.56%) and housing constructed before 1939 ( 14.15%). There's also some housing in La Grange Park built between 2000 and later ( 4.34%).

La Grange Park Home Appreciation Rates

La Grange Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in La Grange Park during the period has been just -1.08%, which is lower than 70% of US communities.

Over the last year, La Grange Park appreciation rates have trailed the rest of the nation. In the last twelve months, La Grange Park's appreciation rate has been 3.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in La Grange Park were at 0.61%, which equates to an annual appreciation rate of 2.45%.

Relative to Illinois, our data show that La Grange Park's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$325,012

La Grange Park, IL HOME PRICES

Value Range
> $1,117,000 0.1
$838,001 - $1,117,000 2.5
$559,001 - $838,000 14.5
$447,001 - $559,000 11.6
$335,001 - $447,000 26.9
$223,001 - $335,000 31.2
$112,001 - $223,000 10.6
$56,001 - $112,000 0.3
$0 - $56,000 1.6

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
13.8638228055783 8.48101265822785

Number Of Homes And Apartments:
5,297

Rent & Ownership

 

Average Market Rent:
$1,271 / per month

Homeownership Rate

Homeownership
Owners 67.30
Renters 32.70
Vacant 4.66

Housing Market Details

 

Age of Homes

AGE OF La Grange Park HOMES
2000 or Newer 4.3
1970 - 1999 14.6
1940 - 1969 67.0
1939 or Older 14.1

Types of Homes

TYPE OF La Grange Park HOMES
Single-Family 63.2
Townhomes 2.1
Small Apt. Buildings 10.4
Apt. Complexes 24.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF La Grange Park HOMES
No Bedroom 0.50
1 Bedroom 10.33
2 Bedrooms 34.74
3 Bedrooms 37.29
4 Bedrooms 12.67
5 or more bedrooms 4.46

La Grange Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
41.39% 2.03% 9 5
* 10 is highest