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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 15,009 people, 5,880 houses or apartments, and a median cost of homes of $386,066, Norridge real estate is some of the most expensive in Illinois, although Norridge home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Norridge, accounting for 75.12% of the village's housing units. Other types of housing that are prevalent in Norridge include large apartment complexes or high rise apartments ( 17.01%), duplexes, homes converted to apartments or other small apartment buildings ( 5.51%), and a few row houses and other attached homes ( 2.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norridge. Owner-occupied housing accounts for 80.89% of Norridge's homes, and 63.87% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Norridge's housing was primarily built during this period, from the '40s through the '60s. A full 63.63% of the village's housing hails from this era. Other housing ages represented in Norridge include homes built between 1970-1999 ( 22.54%) and housing constructed before 1939 ( 7.82%). There's also some housing in Norridge built between 2000 and later ( 6.01%).
Real estate appreciation rates in Norridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.20% during the period.
Over the last year, Norridge appreciation rates have trailed the rest of the nation. In the last twelve months, Norridge's appreciation rate has been 8.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Norridge were at -0.57%, which equates to an annual appreciation rate of -2.26%.
Relative to Illinois, our data show that Norridge's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.
$1,902 / per month