La Grange, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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La Grange, IL Real Estate Data


La Grange Housing Market Information

With 15,723 people, 5,329 houses or apartments, and a median cost of homes of $505,553, 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 67.59% of the village's housing units. Other types of housing that are prevalent in La Grange include large apartment complexes or high rise apartments ( 18.36%), duplexes, homes converted to apartments or other small apartment buildings ( 9.58%), and a few row houses and other attached homes ( 4.19%).

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 77.33% of La Grange's homes, and 60.39% 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 39.87% of the village's housing hails from this era. Other housing ages represented in La Grange include homes built before 1939 ( 38.11%) and housing constructed between 1970-1999 ( 14.28%). There's also some housing in La Grange built between 2000 and later ( 7.74%).

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 0.03% during the period.

NeighborhoodScout's data show that during the latest twelve months, La Grange's appreciation rate, at 5.05%, has been at or slightly above the national average. In the latest quarter, La Grange's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

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

Average Home Values

 

Median Home Value:
$505,553

La Grange, IL HOME PRICES

Value Range
> $1,166,000 4.4
$874,001 - $1,166,000 10.3
$583,001 - $874,000 24.5
$466,001 - $583,000 11.3
$350,001 - $466,000 20.4
$233,001 - $350,000 14.9
$117,001 - $233,000 10.8
$58,001 - $117,000 1.4
$0 - $58,000 2.0

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
6.04321602154945 3.79746835443038

Number Of Homes And Apartments:
5,329

Rent & Ownership

 

Average Market Rent:
$1,520 / per month

Homeownership Rate

Homeownership
Owners 77.33
Renters 22.67
Vacant 6.88

Housing Market Details

 

Age of Homes

AGE OF La Grange HOMES
2000 or Newer 7.7
1970 - 1999 14.3
1940 - 1969 39.9
1939 or Older 38.1

Types of Homes

TYPE OF La Grange HOMES
Single-Family 67.6
Townhomes 4.2
Small Apt. Buildings 9.6
Apt. Complexes 18.4
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF La Grange HOMES
No Bedroom 1.01
1 Bedroom 6.27
2 Bedrooms 24.78
3 Bedrooms 35.98
4 Bedrooms 24.41
5 or more bedrooms 7.55

La Grange Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
59.35% 2.78% 10 7
* 10 is highest