Schaumburg, 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 Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Schaumburg, IL Housing Market Trends

With 78,723 people, 30,249 houses or apartments, and a median cost of homes of $323,935, Schaumburg real estate is some of the most expensive in Illinois, although Schaumburg home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Schaumburg, accounting for 36.21% of the village's housing units. Other types of housing that are prevalent in Schaumburg include large apartment complexes or high rise apartments ( 32.39%), row houses and other attached homes ( 16.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 15.08%).

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

There is a lot of housing in Schaumburg 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 Schaumburg built between 1940-1969 ( 15.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.22%).

Schaumburg Home Appreciation Rates

Schaumburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Schaumburg during the period has been just 3.52%, which is lower than 70% of US communities.

Over the last year, Schaumburg appreciation rates have trailed the rest of the nation. In the last twelve months, Schaumburg's appreciation rate has been 9.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Schaumburg were at 1.10%, which equates to an annual appreciation rate of 4.46%.

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

Relative to Illinois, our data show that Schaumburg'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 Schaumburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Schaumburg - 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 Schaumburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$323,935

Schaumburg, IL HOME PRICES

> $1,174,000
$881,001 - $1,174,000
$587,001 - $881,000
$470,001 - $587,000
$352,001 - $470,000
$235,001 - $352,000
$117,001 - $235,000
$59,001 - $117,000
$0 - $59,000
0.3%
0.3%
0.8%
0.8%
5.8%
5.8%
8.2%
8.2%
22.7%
22.7%
29.8%
29.8%
27.8%
27.8%
2.9%
2.9%
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
30,249

Schaumburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
54.14% 1.96%
5
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,097 / per month

Homeownership Rate

Owners
Renters
Vacant
62.8%
62.8%
37.2%
37.2%
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.2%
4.2%
79.3%
79.3%
15.6%
15.6%
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
36.2%
36.2%
16.1%
16.1%
15.1%
15.1%
32.4%
32.4%
0.2%
0.2%
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
2.0%
2.0%
15.5%
15.5%
37.9%
37.9%
27.1%
27.1%
15.4%
15.4%
2.0%
2.0%
0.0% 100.0%
% OF HOMES