South Elgin, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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South Elgin, 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

South Elgin Housing Market Information

With 22,365 people, 7,183 houses or apartments, and a median cost of homes of $212,285, South Elgin real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in South Elgin, accounting for 67.63% of the village's housing units. Other types of housing that are prevalent in South Elgin include row houses and other attached homes ( 19.51%), large apartment complexes or high rise apartments ( 6.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in South Elgin. Owner-occupied housing accounts for 83.87% of South Elgin's homes, and 69.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in South Elgin 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 South Elgin built between 2000 and later ( 28.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.86%). There's also some housing in South Elgin built before 1939 ( 1.64%).

South Elgin Home Appreciation Rates

Homes have actually lost value in South Elgin over the last then years, as home values have seen a decline of 19.57% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows South Elgin home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, South Elgin's appreciation rate, at 4.48%, has been at or slightly above the national average. In the latest quarter, South Elgin's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that South Elgin's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$212,285

South Elgin, IL HOME PRICES

Value Range
> $1,142,000 0.7
$857,001 - $1,142,000 0.8
$571,001 - $857,000 7.9
$457,001 - $571,000 6.5
$343,001 - $457,000 12.2
$229,001 - $343,000 26.7
$114,001 - $229,000 38.7
$57,001 - $114,000 3.1
$0 - $57,000 3.2

High for IL
High for Nation

Value Relative to Nation Value Relative to State
29.3390366811204 21.5189873417722

Number Of Homes And Apartments:
7,183

South Elgin 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
14.44% 0.79% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,591 / per month

Homeownership Rate

Homeownership
Owners 83.87
Renters 16.13
Vacant 1.82

Housing Market Details

 

Age of Homes

AGE OF South Elgin HOMES
2000 or Newer 28.3
1970 - 1999 55.2
1940 - 1969 14.9
1939 or Older 1.6

Types of Homes

TYPE OF South Elgin HOMES
Single-Family 67.6
Townhomes 19.5
Small Apt. Buildings 5.8
Apt. Complexes 6.5
Mobile Homes 0.4
Other 0.1

Home Size

SIZE OF South Elgin HOMES
No Bedroom 1.61
1 Bedroom 2.12
2 Bedrooms 22.90
3 Bedrooms 41.91
4 Bedrooms 27.53
5 or more bedrooms 3.94