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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 24,007, 8,225 total housing units (homes and apartments), and a median house value of $358,714, South Elgin real estate is some of the most expensive in Illinois, although South Elgin home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in South Elgin, accounting for 68.38% of the village's housing units. Other types of housing that are prevalent in South Elgin include row houses and other attached homes ( 14.14%), large apartment complexes or high rise apartments ( 11.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.93%).
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 79.66% of South Elgin's homes, and 64.82% 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 ( 34.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.75%). There's also some housing in South Elgin built before 1939 ( 4.15%).
Real estate appreciation rates in South Elgin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.75% during the period.
Over the last year, South Elgin appreciation rates have trailed the rest of the nation. In the last twelve months, South Elgin's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Elgin were at 0.21%, which equates to an annual appreciation rate of 0.86%.
Relative to Illinois, our data show that South Elgin's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.
$358,714
for Illinois
for nation
8,225
$2,319 / per month