Northbrook, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Northbrook, 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 Q1 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

Northbrook Housing Market Information

With 33,421 people, 12,840 houses or apartments, and a median cost of homes of $530,846, Northbrook house prices are not only among the most expensive in Illinois, Northbrook real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Northbrook, accounting for 71.58% of the village's housing units. Other types of housing that are prevalent in Northbrook include large apartment complexes or high rise apartments ( 16.09%), row houses and other attached homes ( 11.56%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northbrook. Owner-occupied housing accounts for 84.93% of Northbrook's homes, and 62.06% 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. Northbrook's housing was primarily built during this period, from the '40s through the '60s. A full 43.57% of the village's housing hails from this era. Other housing ages represented in Northbrook include homes built between 1970-1999 ( 40.72%) and housing constructed between 2000 and later ( 12.65%). There's also some housing in Northbrook built before 1939 ( 3.06%).

Northbrook Home Appreciation Rates

Northbrook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Northbrook during the period has been just -0.66%, which is lower than 70% of US communities.

Over the last year, Northbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Northbrook's appreciation rate has been 2.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northbrook were at 0.81%, which equates to an annual appreciation rate of 3.28%.

Relative to Illinois, our data show that Northbrook'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 Northbrook differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Northbrook - 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 Northbrook real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$530,846

Northbrook, IL HOME PRICES

Value Range
> $1,112,063 6.3
$834,156 - $1,112,063 11.2
$556,180 - $834,155 33.5
$444,885 - $556,179 15.8
$333,567 - $444,884 14.1
$222,614 - $333,566 8.3
$110,955 - $222,613 6.7
$55,660 - $110,954 1.2
$0 - $55,659 2.9

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
5.8978102189781 3.54430379746835

Number Of Homes And Apartments:
12,840

Northbrook Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
38.38% 1.80%
8
4
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$2,783 / per month

Homeownership Rate

Homeownership
Owners 84.93
Renters 15.07
Vacant 4.44

Housing Market Details

 

Age of Homes

AGE OF Northbrook HOMES
2000 or Newer 12.7
1970 - 1999 40.7
1940 - 1969 43.6
1939 or Older 3.1

Types of Homes

TYPE OF Northbrook HOMES
Single-Family 71.6
Townhomes 11.6
Small Apt. Buildings 0.7
Apt. Complexes 16.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Northbrook HOMES
No Bedroom 0.83
1 Bedroom 4.33
2 Bedrooms 19.81
3 Bedrooms 27.35
4 Bedrooms 34.71
5 or more bedrooms 12.97