Northfield, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Northfield Neighborhoods Since 2000




Northfield, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Northfield Housing Market Information

With 5,484 people, 2,118 houses or apartments, and a median cost of homes of $740,530, Northfield house prices are not only among the most expensive in Illinois, Northfield 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 Northfield, accounting for 72.11% of the village's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 15.56%), row houses and other attached homes ( 9.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.92%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northfield. Owner-occupied housing accounts for 89.98% of Northfield's homes, and 57.54% 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. Northfield's housing was primarily built during this period, from the '40s through the '60s. A full 53.55% of the village's housing hails from this era. Other housing ages represented in Northfield include homes built between 1970-1999 ( 32.53%) and housing constructed between 2000 and later ( 8.29%). There's also some housing in Northfield built before 1939 ( 5.63%).

Northfield Home Appreciation Rates

Real estate appreciation rates in Northfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.71% during the period.

Over the last year, Northfield appreciation rates have trailed the rest of the nation. In the last twelve months, Northfield's appreciation rate has been 2.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northfield were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$740,530

Northfield, IL HOME PRICES

Value Range
> $1,125,000 21.4
$844,001 - $1,125,000 13.9
$562,001 - $844,000 18.2
$450,001 - $562,000 14.0
$337,001 - $450,000 10.3
$225,001 - $337,000 9.2
$112,001 - $225,000 10.5
$56,001 - $112,000 0.2
$0 - $56,000 2.3

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
2.33212234852924 1.13924050632911

Number Of Homes And Apartments:
2,118

Northfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
50.10% 2.38% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,481 / per month

Homeownership Rate

Homeownership
Owners 89.98
Renters 10.02
Vacant 8.98

Housing Market Details

 

Age of Homes

AGE OF Northfield HOMES
2000 or Newer 8.3
1970 - 1999 32.5
1940 - 1969 53.5
1939 or Older 5.6

Types of Homes

TYPE OF Northfield HOMES
Single-Family 72.1
Townhomes 9.4
Small Apt. Buildings 2.9
Apt. Complexes 15.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Northfield HOMES
No Bedroom 0.39
1 Bedroom 7.86
2 Bedrooms 16.29
3 Bedrooms 31.24
4 Bedrooms 26.30
5 or more bedrooms 17.92