Loves Park, 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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Loves Park, IL Housing Market Trends

With 23,397 people, 9,608 houses or apartments, and a median cost of homes of $125,128, house prices in Loves Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Loves Park, accounting for 63.36% of the city's housing units. Other types of housing that are prevalent in Loves Park include duplexes, homes converted to apartments or other small apartment buildings ( 16.05%), large apartment complexes or high rise apartments ( 8.72%), and a few row houses and other attached homes ( 7.13%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Loves Park. Owner-occupied housing accounts for 68.02% of Loves Park's homes, and 54.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Loves Park 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 Loves Park built between 1940-1969 ( 26.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.22%). There's also some housing in Loves Park built before 1939 ( 5.50%).

Loves Park Home Appreciation Rates

Loves Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Loves Park during the period has been just 3.43%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Loves Park's appreciation rate, at 20.61%, has been at or slightly above the national average. In the latest quarter, Loves Park's appreciation rate has been 8.72%, which annualizes to a rate of 39.73%.

Importantly, this makes Loves Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Illinois, our data show that Loves Park's latest annual appreciation rate is higher than 90% 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 Loves Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Loves Park - 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 Loves Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$125,128

Loves Park, IL HOME PRICES

> $1,360,000
0.0%
0.0%
$1,020,001 - $1,360,000
0.2%
0.2%
$680,001 - $1,020,000
2.0%
2.0%
$544,001 - $680,000
0.9%
0.9%
$408,001 - $544,000
3.5%
3.5%
$272,001 - $408,000
8.0%
8.0%
$136,001 - $272,000
43.5%
43.5%
$68,001 - $136,000
33.3%
33.3%
$0 - $68,000
8.7%
8.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for IL

Value Relative To Nation

Number Of Homes And Apartments:
9,608

Loves Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
46.05% 1.74%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,259 / per month

Homeownership Rate

Owners
68.0%
68.0%
Renters
32.0%
32.0%
Vacant
7.8%
7.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.2%
21.2%
1970 - 1999
46.6%
46.6%
1940 - 1969
26.7%
26.7%
1939 or Older
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.4%
63.4%
Townhomes
7.1%
7.1%
Small Apt. Buildings
16.1%
16.1%
Apt. Complexes
8.7%
8.7%
Mobile Homes
4.7%
4.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
3.8%
3.8%
2 Bedrooms
37.8%
37.8%
3 Bedrooms
38.8%
38.8%
4 Bedrooms
16.0%
16.0%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES