Mundelein IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Mundelein, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mundelein Housing Market Information

With a population of 31,234, 10,825 total housing units (homes and apartments), and a median house value of $274,419, Mundelein real estate is some of the most expensive in Illinois, although Mundelein home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Mundelein, accounting for 69.39% of the village's housing units. Other types of housing that are prevalent in Mundelein include large apartment complexes or high rise apartments ( 17.42%), row houses and other attached homes ( 11.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mundelein. Owner-occupied housing accounts for 74.62% of Mundelein's homes, and 62.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mundelein 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 Mundelein built between 1940-1969 ( 27.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.36%). There's also some housing in Mundelein built before 1939 ( 3.59%).

Mundelein Home Appreciation Rates

Mundelein's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mundelein during the period has been just 0.41%, which is lower than 80% of US communities.

Over the last year, Mundelein appreciation rates have trailed the rest of the nation. In the last twelve months, Mundelein's appreciation rate has been 2.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mundelein were at 1.29%, which equates to an annual appreciation rate of 5.25%.

Relative to Illinois, our data show that Mundelein's latest annual appreciation rate is lower than 50% 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 village. Individual neighborhoods within Mundelein differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mundelein - 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 Mundelein real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$274,419

Mundelein, IL HOME PRICES

Value Range
> $1,170,000 0.9
$877,001 - $1,170,000 0.5
$585,001 - $877,000 2.7
$468,001 - $585,000 4.7
$351,001 - $468,000 17.6
$234,001 - $351,000 30.1
$117,001 - $234,000 37.6
$58,001 - $117,000 3.9
$0 - $58,000 2.0

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
23.8189781021898 14.3037974683544

Number Of Homes And Apartments:
10,825

Mundelein Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
18.15% 0.85%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,764 / per month

Homeownership Rate

Homeownership
Owners 74.62
Renters 25.38
Vacant 5.77

Housing Market Details

 

Age of Homes

AGE OF Mundelein HOMES
2000 or Newer 14.4
1970 - 1999 54.8
1940 - 1969 27.2
1939 or Older 3.6

Types of Homes

TYPE OF Mundelein HOMES
Single-Family 69.4
Townhomes 11.3
Small Apt. Buildings 1.6
Apt. Complexes 17.4
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Mundelein HOMES
No Bedroom 0.10
1 Bedroom 6.89
2 Bedrooms 25.50
3 Bedrooms 38.98
4 Bedrooms 23.89
5 or more bedrooms 4.63