Orland Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Orland Park Neighborhoods Since 2000




Orland Park, 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

Orland Park Housing Market Information

With a population of 58,432, 22,048 total housing units (homes and apartments), and a median house value of $287,923, Orland Park real estate is some of the most expensive in Illinois, although Orland Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Orland Park, accounting for 59.47% of the village's housing units. Other types of housing that are prevalent in Orland Park include row houses and other attached homes ( 20.54%), large apartment complexes or high rise apartments ( 14.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.79%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Orland Park. Owner-occupied housing accounts for 88.61% of Orland Park's homes, and 60.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Orland Park 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 Orland Park built between 2000 and later ( 18.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.09%). There's also some housing in Orland Park built before 1939 ( 1.88%).

Orland Park Home Appreciation Rates

Homes have actually lost value in Orland Park over the last then years, as home values have seen a decline of 19.49% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Orland Park home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Orland Park appreciation rates have trailed the rest of the nation. In the last twelve months, Orland Park's appreciation rate has been 1.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Orland Park were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Orland Park's latest annual appreciation rate is lower than 60% 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 Orland Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orland Park - 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 Orland Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$287,923

Orland Park, IL HOME PRICES

Value Range
> $1,068,000 1.1
$801,001 - $1,068,000 2.2
$534,001 - $801,000 6.3
$427,001 - $534,000 7.3
$320,001 - $427,000 20.6
$213,001 - $320,000 33.0
$107,001 - $213,000 23.7
$54,001 - $107,000 2.7
$0 - $54,000 3.1

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
17.5553732567678 11.0126582278481

Number Of Homes And Apartments:
22,048

Orland Park 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
17.78% 0.95% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,381 / per month

Homeownership Rate

Homeownership
Owners 88.61
Renters 11.39
Vacant 2.79

Housing Market Details

 

Age of Homes

AGE OF Orland Park HOMES
2000 or Newer 18.9
1970 - 1999 70.2
1940 - 1969 9.1
1939 or Older 1.9

Types of Homes

TYPE OF Orland Park HOMES
Single-Family 59.5
Townhomes 20.5
Small Apt. Buildings 5.8
Apt. Complexes 14.0
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Orland Park HOMES
No Bedroom 0.36
1 Bedroom 2.80
2 Bedrooms 29.66
3 Bedrooms 34.82
4 Bedrooms 25.75
5 or more bedrooms 6.62