Lockport, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Lockport Neighborhoods Since 2000




Lockport, 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

Lockport Housing Market Information

With a population of 25,175, 8,788 total housing units (homes and apartments), and a median house value of $235,895, 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 69.55% of the city's housing units. Other types of housing that are prevalent in Lockport include row houses and other attached homes ( 19.25%), large apartment complexes or high rise apartments ( 5.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.56%).

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 85.58% of Lockport's homes, and 61.29% 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. 38.55% 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 ( 31.35%), and between 1940-1969 ( 17.55%). There's also some housing in Lockport built before 1939 ( 12.55%).

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 -1.69%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lockport's appreciation rate, at 4.40%, has been at or slightly above the national average. In the latest quarter, Lockport's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Lockport's latest annual appreciation rate is higher than 80% 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:
$235,895

Lockport, IL HOME PRICES

Value Range
> $1,126,000 0.2
$844,001 - $1,126,000 0.2
$563,001 - $844,000 2.0
$450,001 - $563,000 4.1
$338,001 - $450,000 14.4
$225,001 - $338,000 30.1
$113,001 - $225,000 43.7
$56,001 - $113,000 3.4
$0 - $56,000 1.8

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
24.7919840618774 16.9620253164557

Number Of Homes And Apartments:
8,788

Lockport 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
22.69% 1.19% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,729 / per month

Homeownership Rate

Homeownership
Owners 85.58
Renters 14.42
Vacant 7.05

Housing Market Details

 

Age of Homes

AGE OF Lockport HOMES
2000 or Newer 38.6
1970 - 1999 31.3
1940 - 1969 17.5
1939 or Older 12.6

Types of Homes

TYPE OF Lockport HOMES
Single-Family 69.6
Townhomes 19.2
Small Apt. Buildings 5.6
Apt. Complexes 5.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lockport HOMES
No Bedroom 0.43
1 Bedroom 3.53
2 Bedrooms 30.93
3 Bedrooms 40.26
4 Bedrooms 21.03
5 or more bedrooms 3.82