Richton Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Richton Park Neighborhoods Since 2000




Richton 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

Richton Park Housing Market Information

With a population of 13,695, 5,166 total housing units (homes and apartments), and a median house value of $155,142, Richton Park real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Richton Park, accounting for 56.66% of the village's housing units. Other types of housing that are prevalent in Richton Park include large apartment complexes or high rise apartments ( 30.55%), row houses and other attached homes ( 9.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.07%).

The most prevalent building size and type in Richton Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 57.40% owning and 42.60% renting.

There is a lot of housing in Richton 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 Richton Park built between 1940-1969 ( 15.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.31%). There's also some housing in Richton Park built before 1939 ( 3.76%).

Richton Park Home Appreciation Rates

Homes have actually lost value in Richton Park over the last then years, as home values have seen a decline of 36.83% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Richton Park home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Richton Park appreciation rates have trailed the rest of the nation. In the last twelve months, Richton Park's appreciation rate has been -0.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richton Park were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$155,142

Richton Park, IL HOME PRICES

Value Range
> $1,015,000 0.4
$761,001 - $1,015,000 0.0
$507,001 - $761,000 0.2
$406,001 - $507,000 0.4
$304,001 - $406,000 1.3
$203,001 - $304,000 17.5
$101,001 - $203,000 57.8
$51,001 - $101,000 15.9
$0 - $51,000 6.6

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
47.8436657681941 40.253164556962

Number Of Homes And Apartments:
5,166

Richton 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
-15.75% -0.99% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,332 / per month

Homeownership Rate

Homeownership
Owners 57.40
Renters 42.60
Vacant 9.97

Housing Market Details

 

Age of Homes

AGE OF Richton Park HOMES
2000 or Newer 11.3
1970 - 1999 69.0
1940 - 1969 15.9
1939 or Older 3.8

Types of Homes

TYPE OF Richton Park HOMES
Single-Family 56.7
Townhomes 9.3
Small Apt. Buildings 3.1
Apt. Complexes 30.6
Mobile Homes 0.3
Other 0.1

Home Size

SIZE OF Richton Park HOMES
No Bedroom 0.64
1 Bedroom 15.95
2 Bedrooms 23.53
3 Bedrooms 37.38
4 Bedrooms 20.22
5 or more bedrooms 2.28