New Lenox, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Lenox, 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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

New Lenox Housing Market Information

With a population of 26,217, 8,208 total housing units (homes and apartments), and a median house value of $300,853, New Lenox real estate is some of the most expensive in Illinois, although New Lenox home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Lenox, accounting for 78.04% of the village's housing units. Other types of housing that are prevalent in New Lenox include row houses and other attached homes ( 11.21%), large apartment complexes or high rise apartments ( 6.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Lenox. Owner-occupied housing accounts for 87.03% of New Lenox's homes, and 75.73% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Lenox 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 New Lenox built between 2000 and later ( 31.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.93%). There's also some housing in New Lenox built before 1939 ( 1.04%).

New Lenox Home Appreciation Rates

New Lenox's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Lenox during the period has been just -0.78%, which is lower than 80% of US communities.

Over the last year, New Lenox appreciation rates have trailed the rest of the nation. In the last twelve months, New Lenox's appreciation rate has been 3.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Lenox were at 1.56%, which equates to an annual appreciation rate of 6.39%.

Relative to Illinois, our data show that New Lenox's latest annual appreciation rate is lower than 70% 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 New Lenox differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Lenox - 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 New Lenox real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$300,853

New Lenox, IL HOME PRICES

Value Range
> $1,123,000 0.2
$843,001 - $1,123,000 0.5
$562,001 - $843,000 1.6
$449,001 - $562,000 4.3
$337,001 - $449,000 25.3
$224,001 - $337,000 43.6
$112,001 - $224,000 20.8
$56,001 - $112,000 0.7
$0 - $56,000 3.1

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
18.5693430656934 11.3924050632911

Number Of Homes And Apartments:
8,208

New Lenox Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
30.82% 1.46%
6
2
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,539 / per month

Homeownership Rate

Homeownership
Owners 87.03
Renters 12.97
Vacant 3.15

Housing Market Details

 

Age of Homes

AGE OF New Lenox HOMES
2000 or Newer 31.2
1970 - 1999 59.8
1940 - 1969 7.9
1939 or Older 1.0

Types of Homes

TYPE OF New Lenox HOMES
Single-Family 78.0
Townhomes 11.2
Small Apt. Buildings 4.0
Apt. Complexes 6.3
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF New Lenox HOMES
No Bedroom 0.22
1 Bedroom 1.14
2 Bedrooms 19.88
3 Bedrooms 38.35
4 Bedrooms 37.38
5 or more bedrooms 3.02