Lemont, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Lemont, IL Housing Market Trends

With a population of 17,291, 6,051 total housing units (homes and apartments), and a median house value of $399,247, Lemont house prices are not only among the most expensive in Illinois, Lemont 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 Lemont, accounting for 71.45% of the village's housing units. Other types of housing that are prevalent in Lemont include row houses and other attached homes ( 13.52%), large apartment complexes or high rise apartments ( 10.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lemont. Owner-occupied housing accounts for 80.47% of Lemont's homes, and 70.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lemont 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 Lemont built between 2000 and later ( 25.10%). A lesser amount of the housing stock also hails from before 1939 ( 11.32%). There's also some housing in Lemont built between 1940-1969 ( 10.80%).

Lemont Home Appreciation Rates

Lemont's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lemont during the period has been just 1.96%, which is lower than 80% of US communities.

Over the last year, Lemont appreciation rates have trailed the rest of the nation. In the last twelve months, Lemont's appreciation rate has been 5.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lemont were at 1.89%, which equates to an annual appreciation rate of 7.77%.

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

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

Average Home Values

 

Median Home Value:
$399,247

Lemont, IL HOME PRICES

> $1,110,000
0.9%
0.9%
$833,001 - $1,110,000
1.8%
1.8%
$555,001 - $833,000
15.2%
15.2%
$444,001 - $555,000
20.3%
20.3%
$333,001 - $444,000
30.7%
30.7%
$222,001 - $333,000
22.8%
22.8%
$111,001 - $222,000
5.9%
5.9%
$56,001 - $111,000
1.9%
1.9%
$0 - $56,000
0.5%
0.5%
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:
6,051

Lemont Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
43.42% 1.69%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,432 / per month

Homeownership Rate

Owners
80.5%
80.5%
Renters
19.5%
19.5%
Vacant
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.1%
25.1%
1970 - 1999
52.8%
52.8%
1940 - 1969
10.8%
10.8%
1939 or Older
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.5%
71.5%
Townhomes
13.5%
13.5%
Small Apt. Buildings
4.8%
4.8%
Apt. Complexes
10.3%
10.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
7.4%
7.4%
2 Bedrooms
16.5%
16.5%
3 Bedrooms
42.5%
42.5%
4 Bedrooms
28.4%
28.4%
5 or more bedrooms
4.8%
4.8%
0.0% 100.0%
% OF HOMES