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 a population of 30,416, 7,300 total housing units (homes and apartments), and a median house value of $264,668, North Chicago real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in North Chicago, accounting for 36.73% of the city's housing units. Other types of housing that are prevalent in North Chicago include large apartment complexes or high rise apartments ( 28.24%), duplexes, homes converted to apartments or other small apartment buildings ( 22.25%), and a few row houses and other attached homes ( 12.44%).
Renters dominate North Chicago's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in North Chicago 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 North Chicago built between 1940-1969 ( 27.76%). A lesser amount of the housing stock also hails from before 1939 ( 18.53%). There's also some housing in North Chicago built between 2000 and later ( 13.90%).
In the last 10 years, North Chicago has experienced some of the highest home appreciation rates of any community in the nation. North Chicago real estate appreciated 123.63% over the last ten years, which is an average annual home appreciation rate of 8.38%, putting North Chicago in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, North Chicago definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in North Chicago that despite a nationwide downturn in the housing market, North Chicago real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Chicago appreciation rates continue to be some of the highest in America, at 10.28%, which is higher than appreciation rates in 84.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Chicago. North Chicago appreciation rates in the latest quarter were at 2.27%, which equates to an annual appreciation rate of 9.38%.
Relative to Illinois, our data show that North Chicago's latest annual appreciation rate is higher 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 city. Individual neighborhoods within North Chicago differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Chicago - 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 North Chicago real estate investment or home purchase decisions.
$264,668
for Illinois
for nation
7,300
$1,953 / per month