Lockport, 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

Lockport, IL Housing Market Trends

With a population of 25,615, 8,754 total housing units (homes and apartments), and a median house value of $272,756, Lockport real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lockport, accounting for 69.75% of the city's housing units. Other types of housing that are prevalent in Lockport include row houses and other attached homes ( 17.79%), duplexes, homes converted to apartments or other small apartment buildings ( 6.58%), and a few large apartment complexes or high rise apartments ( 5.68%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lockport. Owner-occupied housing accounts for 82.17% of Lockport's homes, and 64.17% have either three or four bedrooms, which is average sized relative to America.

Lockport homes and real estate are some of the newest in America. 40.15% of Lockport's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lockport real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.39%), and between 1940-1969 ( 15.13%). There's also some housing in Lockport built before 1939 ( 12.33%).

Lockport Home Appreciation Rates

Lockport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lockport during the period has been just 2.76%, which is lower than 70% of US communities.

Over the last year, Lockport appreciation rates have trailed the rest of the nation. In the last twelve months, Lockport's appreciation rate has been 4.82%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lockport were at 1.88%, which equates to an annual appreciation rate of 7.74%.

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

Relative to Illinois, our data show that Lockport's latest annual appreciation rate is lower than 60% 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 city. Individual neighborhoods within Lockport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lockport - 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 Lockport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$272,756

Lockport, IL HOME PRICES

> $1,153,000
0.5%
0.5%
$865,001 - $1,153,000
0.6%
0.6%
$576,001 - $865,000
2.7%
2.7%
$461,001 - $576,000
5.3%
5.3%
$346,001 - $461,000
21.5%
21.5%
$231,001 - $346,000
32.0%
32.0%
$116,001 - $231,000
32.5%
32.5%
$58,001 - $116,000
1.8%
1.8%
$0 - $58,000
3.1%
3.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
8,754

Lockport 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
44.48% 1.73%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,046 / per month

Homeownership Rate

Owners
82.2%
82.2%
Renters
17.8%
17.8%
Vacant
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
40.2%
40.2%
1970 - 1999
32.4%
32.4%
1940 - 1969
15.1%
15.1%
1939 or Older
12.3%
12.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.8%
69.8%
Townhomes
17.8%
17.8%
Small Apt. Buildings
6.6%
6.6%
Apt. Complexes
5.7%
5.7%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
4.3%
4.3%
2 Bedrooms
26.3%
26.3%
3 Bedrooms
38.6%
38.6%
4 Bedrooms
25.6%
25.6%
5 or more bedrooms
5.3%
5.3%
0.0% 100.0%
% OF HOMES