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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Norridge, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Norridge, IL Housing Market Trends

With 14,769 people, 5,880 houses or apartments, and a median cost of homes of $396,218, 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%).

Norridge Home Appreciation Rates

Norridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Norridge during the period has been just 5.00%, which is lower than 70% of US communities.

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 3.21%, 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 3.94%, which equates to an annual appreciation rate of 16.70%.

Relative to Illinois, our data show that Norridge's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$396,218

Norridge, IL Home Prices
> $1,242,000
$932,001 - $1,242,000
$621,001 - $932,000
$497,001 - $621,000
$373,001 - $497,000
$248,001 - $373,000
$124,001 - $248,000
$62,001 - $124,000
$0 - $62,000
0.1%
0.1%
1.3%
1.3%
6.2%
6.2%
9.0%
9.0%
40.1%
40.1%
31.4%
31.4%
8.0%
8.0%
1.8%
1.8%
2.2%
2.2%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

5,880

Norridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,039 / per month

Homeownership Rate

Owners
Renters
Vacant
80.9%
80.9%
19.1%
19.1%
5.0%
5.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.0%
6.0%
22.5%
22.5%
63.6%
63.6%
7.8%
7.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.1%
75.1%
2.2%
2.2%
5.5%
5.5%
17.0%
17.0%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
7.4%
7.4%
23.4%
23.4%
49.6%
49.6%
14.3%
14.3%
3.0%
3.0%
0% 100.0%
% of Homes