River Grove, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating River Grove Neighborhoods Since 2000




River Grove, 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

River Grove Housing Market Information

With a population of 10,219, 4,086 total housing units (homes and apartments), and a median house value of $210,956, River Grove real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in River Grove, accounting for 46.04% of the village's housing units. Other types of housing that are prevalent in River Grove include large apartment complexes or high rise apartments ( 43.42%), duplexes, homes converted to apartments or other small apartment buildings ( 8.71%), and a few row houses and other attached homes ( 1.63%).

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 58.81% of the village's housing hails from this era. Other housing ages represented in River Grove include homes built between 1970-1999 ( 23.96%) and housing constructed before 1939 ( 15.81%). There's also some housing in River Grove built between 2000 and later ( 1.42%).

River Grove Home Appreciation Rates

Homes have actually lost value in River Grove over the last then years, as home values have seen a decline of 27.05% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows River Grove home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in River Grove that despite a nationwide downturn in the housing market, River Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, River Grove appreciation rates continue to be some of the highest in America, at 12.83%, which is higher than appreciation rates in 98.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in River Grove. River Grove appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that River Grove's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$210,956

River Grove, IL HOME PRICES

Value Range
> $1,252,000 0.0
$939,001 - $1,252,000 0.2
$626,001 - $939,000 0.0
$501,001 - $626,000 0.9
$375,001 - $501,000 7.4
$250,001 - $375,000 33.0
$125,001 - $250,000 42.9
$62,001 - $125,000 13.1
$0 - $62,000 2.5

High for IL
High for Nation

Value Relative to Nation Value Relative to State
29.6847533106762 21.8987341772152

Number Of Homes And Apartments:
4,086

River Grove 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
20.89% 1.11% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,084 / per month

Homeownership Rate

Homeownership
Owners 57.13
Renters 42.87
Vacant 6.13

Housing Market Details

 

Age of Homes

AGE OF River Grove HOMES
2000 or Newer 1.4
1970 - 1999 24.0
1940 - 1969 58.8
1939 or Older 15.8

Types of Homes

TYPE OF River Grove HOMES
Single-Family 46.0
Townhomes 1.6
Small Apt. Buildings 8.7
Apt. Complexes 43.4
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF River Grove HOMES
No Bedroom 1.65
1 Bedroom 24.08
2 Bedrooms 33.38
3 Bedrooms 29.01
4 Bedrooms 10.52
5 or more bedrooms 1.36