Schiller Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Schiller Park, IL Real Estate Data


Schiller Park Housing Market Information

With a population of 11,806, 4,299 total housing units (homes and apartments), and a median house value of $225,002, Schiller Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Schiller Park, accounting for 43.21% of the village's housing units. Other types of housing that are prevalent in Schiller Park include large apartment complexes or high rise apartments ( 38.90%), duplexes, homes converted to apartments or other small apartment buildings ( 13.34%), and a few row houses and other attached homes ( 4.54%).

Dwellings in Schiller Park tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.18% of the homes in Schiller Park have two or fewer bedrooms.

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. Schiller Park's housing was primarily built during this period, from the '40s through the '60s. A full 55.08% of the village's housing hails from this era. Other housing ages represented in Schiller Park include homes built between 1970-1999 ( 30.32%) and housing constructed between 2000 and later ( 9.59%). There's also some housing in Schiller Park built before 1939 ( 5.01%).

Schiller Park Home Appreciation Rates

Homes have actually lost value in Schiller Park over the last then years, as home values have seen a decline of 37.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Schiller Park home appreciation rates at 1.75%, which equates to an annual appreciation rate of 7.20%.

Appreciation rates are so strong in Schiller Park that despite a nationwide downturn in the housing market, Schiller Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Schiller Park appreciation rates continue to be some of the highest in America, at 8.52%, which is higher than appreciation rates in 88.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Schiller Park. Schiller Park appreciation rates in the latest quarter were at 1.75%, which equates to an annual appreciation rate of 7.20%.

Importantly, this makes Schiller Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$225,002

Schiller Park, IL HOME PRICES

Value Range
> $1,157,000 0.0
$868,001 - $1,157,000 0.7
$579,001 - $868,000 0.0
$463,001 - $579,000 2.7
$347,001 - $463,000 10.1
$231,001 - $347,000 23.8
$116,001 - $231,000 44.3
$58,001 - $116,000 12.1
$0 - $58,000 6.4

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
26.4385327551858 19.493670886076

Number Of Homes And Apartments:
4,299

Rent & Ownership

 

Average Market Rent:
$1,042 / per month

Homeownership Rate

Homeownership
Owners 66.34
Renters 33.66
Vacant 9.55

Housing Market Details

 

Age of Homes

AGE OF Schiller Park HOMES
2000 or Newer 9.6
1970 - 1999 30.3
1940 - 1969 55.1
1939 or Older 5.0

Types of Homes

TYPE OF Schiller Park HOMES
Single-Family 43.2
Townhomes 4.5
Small Apt. Buildings 13.3
Apt. Complexes 38.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Schiller Park HOMES
No Bedroom 1.51
1 Bedroom 24.59
2 Bedrooms 28.07
3 Bedrooms 33.16
4 Bedrooms 11.80
5 or more bedrooms 0.86

Schiller Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
10.95% 0.60% 3 1
* 10 is highest

Popular Neighborhoods in Schiller Park

Zip Codes in Schiller Park, IL