Northfield IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Northfield Housing Market Information

With 5,422 people, 2,323 houses or apartments, and a median cost of homes of $688,596, 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 70.49% of the village's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 16.33%), row houses and other attached homes ( 9.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.87%).

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 89.63% of Northfield's homes, and 50.65% 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 51.95% of the village's housing hails from this era. Other housing ages represented in Northfield include homes built between 1970-1999 ( 34.95%) and housing constructed before 1939 ( 7.69%). There's also some housing in Northfield built between 2000 and later ( 5.40%).

Northfield Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Northfield, where house values have increased just 6.86%, which is annualized rate of 0.67%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 1.18%, 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 0.04%, which equates to an annual appreciation rate of 0.15%.

Notably, Northfield's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Northfield's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$688,596

Northfield, IL HOME PRICES

Value Range
> $1,050,000 21.9
$788,001 - $1,050,000 13.5
$525,001 - $788,000 15.6
$420,001 - $525,000 14.9
$315,001 - $420,000 9.7
$210,001 - $315,000 13.2
$105,001 - $210,000 8.8
$53,001 - $105,000 0.7
$0 - $53,000 1.7

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
3.6963503649635 1.51898734177215

Number Of Homes And Apartments:
2,323

Northfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
42.72% 1.75%
7
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,676 / per month

Homeownership Rate

Homeownership
Owners 89.63
Renters 10.37
Vacant 8.36

Housing Market Details

 

Age of Homes

AGE OF Northfield HOMES
2000 or Newer 5.4
1970 - 1999 35.0
1940 - 1969 52.0
1939 or Older 7.7

Types of Homes

TYPE OF Northfield HOMES
Single-Family 70.5
Townhomes 9.3
Small Apt. Buildings 3.9
Apt. Complexes 16.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Northfield HOMES
No Bedroom 0.00
1 Bedroom 7.14
2 Bedrooms 22.56
3 Bedrooms 27.50
4 Bedrooms 23.16
5 or more bedrooms 19.64