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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



River Grove, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

River Grove, IL Housing Market Trends

With a population of 10,391, 3,822 total housing units (homes and apartments), and a median house value of $259,894, River Grove 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 River Grove, accounting for 47.03% of the village's housing units. Other types of housing that are prevalent in River Grove include large apartment complexes or high rise apartments ( 42.67%), duplexes, homes converted to apartments or other small apartment buildings ( 8.99%), and a few row houses and other attached homes ( 1.31%).

People in River Grove primarily live in small (one, two or no bedroom) single-family detached homes. River Grove has a mixture of owner-occupied and renter-occupied housing.

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. River Grove's housing was primarily built during this period, from the '40s through the '60s. A full 57.81% of the village's housing hails from this era. Other housing ages represented in River Grove include homes built between 1970-1999 ( 26.59%) and housing constructed before 1939 ( 14.29%). There's also some housing in River Grove built between 2000 and later ( 1.31%).

River Grove Home Appreciation Rates

Real estate appreciation rates in River Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.07% during the period.

Over the last year, River Grove appreciation rates have trailed the rest of the nation. In the last twelve months, River Grove's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in River Grove were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that River Grove's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$259,894

River Grove, IL Home Prices
> $1,164,000
$873,001 - $1,164,000
$582,001 - $873,000
$466,001 - $582,000
$349,001 - $466,000
$233,001 - $349,000
$116,001 - $233,000
$58,001 - $116,000
$0 - $58,000
0.7%
0.7%
0.3%
0.3%
2.2%
2.2%
6.0%
6.0%
11.2%
11.2%
43.3%
43.3%
28.7%
28.7%
2.7%
2.7%
4.8%
4.8%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

3,822

River Grove Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,083 / per month

Homeownership Rate

Owners
Renters
59.9%
59.9%
40.1%
40.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.8%
8.8%
91.2%
91.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.3%
1.3%
26.6%
26.6%
57.8%
57.8%
14.3%
14.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
47.0%
47.0%
1.3%
1.3%
9.0%
9.0%
42.7%
42.7%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.9%
3.9%
15.7%
15.7%
40.6%
40.6%
26.7%
26.7%
11.7%
11.7%
1.4%
1.4%
0% 100.0%
% of Homes