La Grange, 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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

La Grange, IL Housing Market Trends

With 16,321 people, 5,445 houses or apartments, and a median cost of homes of $725,462, La Grange house prices are not only among the most expensive in Illinois, La Grange 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, accounting for 73.34% of the village's housing units. Other types of housing that are prevalent in La Grange include large apartment complexes or high rise apartments ( 19.66%), duplexes, homes converted to apartments or other small apartment buildings ( 5.26%), and a few row houses and other attached homes ( 1.51%).

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. Owner-occupied housing accounts for 80.56% of La Grange's homes, and 57.83% 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's housing was primarily built during this period, from the '40s through the '60s. A full 37.98% of the village's housing hails from this era. Other housing ages represented in La Grange include homes built before 1939 ( 36.31%) and housing constructed between 1970-1999 ( 15.16%). There's also some housing in La Grange built between 2000 and later ( 10.55%).

La Grange Home Appreciation Rates

Real estate appreciation rates in La Grange's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.24% during the period.

Over the last year, La Grange appreciation rates have trailed the rest of the nation. In the last twelve months, La Grange's appreciation rate has been 14.01%, 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 were at 5.32%, which equates to an annual appreciation rate of 23.03%.

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

Relative to Illinois, our data show that La Grange's latest annual appreciation rate is higher than 50% 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 La Grange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in La Grange - 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 La Grange real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$725,462

La Grange, IL HOME PRICES

> $1,263,000
$947,001 - $1,263,000
$631,001 - $947,000
$505,001 - $631,000
$379,001 - $505,000
$253,001 - $379,000
$126,001 - $253,000
$63,001 - $126,000
$0 - $63,000
5.5%
5.5%
15.4%
15.4%
29.5%
29.5%
13.6%
13.6%
15.3%
15.3%
9.8%
9.8%
9.6%
9.6%
0.7%
0.7%
0.6%
0.6%
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:
5,445

La Grange Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
92.93% 3.03%
10
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,923 / per month

Homeownership Rate

Owners
Renters
Vacant
80.6%
80.6%
19.4%
19.4%
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.6%
10.6%
15.2%
15.2%
38.0%
38.0%
36.3%
36.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.3%
73.3%
1.5%
1.5%
5.3%
5.3%
19.7%
19.7%
0.2%
0.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
6.1%
6.1%
21.1%
21.1%
28.1%
28.1%
29.7%
29.7%
14.4%
14.4%
0.0% 100.0%
% OF HOMES