Plainfield, IL Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Plainfield, IL Housing Market Trends

With 44,308 people, 12,662 houses or apartments, and a median cost of homes of $345,855, Plainfield real estate is some of the most expensive in Illinois, although Plainfield home values aren't among America's most expensive.

Plainfield is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Plainfield than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Plainfield. Owner-occupied housing accounts for 88.66% of Plainfield's homes, and 75.96% have either three or four bedrooms, which is average sized relative to America.

Plainfield homes and real estate are some of the newest in America. 66.67% of Plainfield's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Plainfield real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 27.90%), and between 1940-1969 ( 3.08%). There's also some housing in Plainfield built before 1939 ( 2.35%).

Plainfield Home Appreciation Rates

Real estate appreciation rates in Plainfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.21% during the period.

Over the last year, Plainfield appreciation rates have trailed the rest of the nation. In the last twelve months, Plainfield's appreciation rate has been 2.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Plainfield were at 1.27%, which equates to an annual appreciation rate of 5.18%.

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

Relative to Illinois, our data show that Plainfield's latest annual appreciation rate is lower than 70% 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 Plainfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Plainfield - 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 Plainfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$345,855

Plainfield, IL HOME PRICES

> $1,113,000
0.6%
0.6%
$835,001 - $1,113,000
0.4%
0.4%
$556,001 - $835,000
5.9%
5.9%
$446,001 - $556,000
13.1%
13.1%
$334,001 - $446,000
33.7%
33.7%
$222,001 - $334,000
31.4%
31.4%
$112,001 - $222,000
13.0%
13.0%
$55,001 - $112,000
0.9%
0.9%
$0 - $55,000
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
12,662

Plainfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
30.32% 1.27%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,337 / per month

Homeownership Rate

Owners
88.7%
88.7%
Renters
11.3%
11.3%
Vacant
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
66.7%
66.7%
1970 - 1999
27.9%
27.9%
1940 - 1969
3.1%
3.1%
1939 or Older
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
80.5%
80.5%
Townhomes
13.5%
13.5%
Small Apt. Buildings
1.4%
1.4%
Apt. Complexes
4.7%
4.7%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
2.2%
2.2%
2 Bedrooms
10.3%
10.3%
3 Bedrooms
25.6%
25.6%
4 Bedrooms
50.4%
50.4%
5 or more bedrooms
10.4%
10.4%
0.0% 100.0%
% OF HOMES