Round Lake Heights, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Round Lake Heights, IL Real Estate Data


Round Lake Heights Housing Market Information

With 2,718 people, 811 houses or apartments, and a median cost of homes of $174,674, Round Lake Heights 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 Round Lake Heights, accounting for 91.01% of the village's housing units. Other types of housing that are prevalent in Round Lake Heights include large apartment complexes or high rise apartments ( 7.57%), duplexes, homes converted to apartments or other small apartment buildings ( 1.43%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Round Lake Heights. Owner-occupied housing accounts for 75.96% of Round Lake Heights's homes, and 71.82% have either three or four bedrooms, which is average sized relative to America.

Round Lake Heights homes and real estate are some of the newest in America. 42.98% of Round Lake Heights'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 Round Lake Heights real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 30.70%), and between 1970-1999 ( 24.45%). There's also some housing in Round Lake Heights built before 1939 ( 1.86%).

Vacant housing appears to be an issue in Round Lake Heights. Fully 11.07% of the housing stock is classified as vacant. Left unchecked, vacant Round Lake Heights homes and apartments can be a drag on the real estate market, holding Round Lake Heights real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Round Lake Heights Home Appreciation Rates

Homes have actually lost value in Round Lake Heights over the last then years, as home values have seen a decline of 27.07% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Round Lake Heights home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.

Appreciation rates are so strong in Round Lake Heights that despite a nationwide downturn in the housing market, Round Lake Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Round Lake Heights appreciation rates continue to be some of the highest in America, at 5.71%, which is higher than appreciation rates in 70.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Round Lake Heights. Round Lake Heights appreciation rates in the latest quarter were at 1.63%, which equates to an annual appreciation rate of 6.69%.

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

Average Home Values

 

Median Home Value:
$174,674

Round Lake Heights, IL HOME PRICES

Value Range
> $1,140,000 0.2
$855,001 - $1,140,000 0.0
$570,001 - $855,000 1.5
$456,001 - $570,000 2.1
$342,001 - $456,000 6.4
$228,001 - $342,000 17.7
$114,001 - $228,000 45.3
$57,001 - $114,000 21.2
$0 - $57,000 5.6

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
41.1020671078058 34.4303797468354

Number Of Homes And Apartments:
811

Rent & Ownership

 

Average Market Rent:
$1,306 / per month

Homeownership Rate

Homeownership
Owners 75.96
Renters 24.04
Vacant 11.07

Housing Market Details

 

Age of Homes

AGE OF Round Lake Heights HOMES
2000 or Newer 43.0
1970 - 1999 24.5
1940 - 1969 30.7
1939 or Older 1.9

Types of Homes

TYPE OF Round Lake Heights HOMES
Single-Family 91.0
Townhomes 0.0
Small Apt. Buildings 1.4
Apt. Complexes 7.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Round Lake Heights HOMES
No Bedroom 0.00
1 Bedroom 3.62
2 Bedrooms 13.60
3 Bedrooms 50.77
4 Bedrooms 21.05
5 or more bedrooms 10.96

Round Lake Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
2.66% 0.15% 1 1
* 10 is highest

Popular Neighborhoods in Round Lake Heights

Zip Codes in Round Lake Heights, IL