Lake Zurich, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lake Zurich Neighborhoods Since 2000




Lake Zurich, 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

Lake Zurich Housing Market Information

With a population of 19,993, 6,728 total housing units (homes and apartments), and a median house value of $413,568, Lake Zurich house prices are not only among the most expensive in Illinois, Lake Zurich 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 Lake Zurich, accounting for 83.21% of the village's housing units. Other types of housing that are prevalent in Lake Zurich include row houses and other attached homes ( 7.24%), large apartment complexes or high rise apartments ( 7.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.16%).

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 Zurich. Owner-occupied housing accounts for 87.32% of Lake Zurich's homes, and 80.39% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Zurich 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 Zurich built between 1940-1969 ( 16.31%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.63%). There's also some housing in Lake Zurich built before 1939 ( 2.13%).

Lake Zurich Home Appreciation Rates

Lake Zurich's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Zurich during the period has been just -1.33%, which is lower than 70% of US communities.

Over the last year, Lake Zurich appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Zurich's appreciation rate has been 3.06%, 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 Zurich were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$413,568

Lake Zurich, IL HOME PRICES

Value Range
> $1,112,000 0.7
$834,001 - $1,112,000 2.7
$555,001 - $834,000 15.7
$445,001 - $555,000 15.5
$333,001 - $445,000 27.7
$222,001 - $333,000 22.2
$111,001 - $222,000 10.8
$55,001 - $111,000 1.4
$0 - $55,000 3.3

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
8.82163365756475 5.25316455696203

Number Of Homes And Apartments:
6,728

Lake Zurich 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
27.51% 1.42% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,828 / per month

Homeownership Rate

Homeownership
Owners 87.32
Renters 12.68
Vacant 5.00

Housing Market Details

 

Age of Homes

AGE OF Lake Zurich HOMES
2000 or Newer 13.6
1970 - 1999 67.9
1940 - 1969 16.3
1939 or Older 2.1

Types of Homes

TYPE OF Lake Zurich HOMES
Single-Family 83.2
Townhomes 7.2
Small Apt. Buildings 1.2
Apt. Complexes 7.1
Mobile Homes 1.0
Other 0.3

Home Size

SIZE OF Lake Zurich HOMES
No Bedroom 0.80
1 Bedroom 4.74
2 Bedrooms 10.89
3 Bedrooms 39.68
4 Bedrooms 40.71
5 or more bedrooms 3.18