Lake Bluff IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lake Bluff, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lake Bluff Housing Market Information

With a population of 5,617, 1,988 total housing units (homes and apartments), and a median house value of $479,281, Lake Bluff house prices are not only among the most expensive in Illinois, Lake Bluff real estate also is some of the most expensive in all of America.

Lake Bluff is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Lake Bluff than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Bluff. Owner-occupied housing accounts for 90.39% of Lake Bluff's homes, and 75.08% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Bluff 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 Lake Bluff built between 1940-1969 ( 34.86%). A lesser amount of the housing stock also hails from before 1939 ( 15.50%). There's also some housing in Lake Bluff built between 2000 and later ( 4.78%).

Lake Bluff Home Appreciation Rates

Lake Bluff's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Bluff during the period has been just 0.94%, which is lower than 80% of US communities.

Over the last year, Lake Bluff appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Bluff's appreciation rate has been 2.41%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Bluff were at 0.92%, which equates to an annual appreciation rate of 3.75%.

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

Average Home Values

 

Median Home Value:
$479,281

Lake Bluff, IL HOME PRICES

Value Range
> $1,026,000 18.0
$770,001 - $1,026,000 14.4
$513,001 - $770,000 27.9
$411,001 - $513,000 14.4
$308,001 - $411,000 11.4
$205,001 - $308,000 6.6
$102,001 - $205,000 2.3
$51,001 - $102,000 3.3
$0 - $51,000 1.8

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
8.33868613138686 4.05063291139241

Number Of Homes And Apartments:
1,988

Lake Bluff Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
41.91% 1.74%
7
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,955 / per month

Homeownership Rate

Homeownership
Owners 90.39
Renters 9.61
Vacant 4.01

Housing Market Details

 

Age of Homes

AGE OF Lake Bluff HOMES
2000 or Newer 4.8
1970 - 1999 44.9
1940 - 1969 34.9
1939 or Older 15.5

Types of Homes

TYPE OF Lake Bluff HOMES
Single-Family 91.0
Townhomes 3.7
Small Apt. Buildings 2.1
Apt. Complexes 3.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lake Bluff HOMES
No Bedroom 0.00
1 Bedroom 2.90
2 Bedrooms 6.37
3 Bedrooms 32.35
4 Bedrooms 42.73
5 or more bedrooms 15.64