Steger, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Steger, IL Real Estate Data


Steger Housing Market Information

With a population of 9,515, 3,885 total housing units (homes and apartments), and a median house value of $117,030, house prices in Steger are solidly below the national average.

Single-family detached homes are the single most common housing type in Steger, accounting for 65.47% of the village's housing units. Other types of housing that are prevalent in Steger include large apartment complexes or high rise apartments ( 21.30%), duplexes, homes converted to apartments or other small apartment buildings ( 11.10%), and a few row houses and other attached homes ( 1.41%).

The most prevalent building size and type in Steger are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 55.69% owning and 44.31% renting.

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. Steger's housing was primarily built during this period, from the '40s through the '60s. A full 40.81% of the village's housing hails from this era. Other housing ages represented in Steger include homes built between 1970-1999 ( 39.47%) and housing constructed before 1939 ( 12.98%). There's also some housing in Steger built between 2000 and later ( 6.74%).

Steger Home Appreciation Rates

Homes have actually lost value in Steger over the last then years, as home values have seen a decline of 30.22% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Steger home appreciation rates at 1.63%, which equates to an annual appreciation rate of 6.69%.

NeighborhoodScout's data show that during the latest twelve months, Steger's appreciation rate, at 4.92%, has been at or slightly above the national average. In the latest quarter, Steger's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Illinois, our data show that Steger's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$117,030

Steger, IL HOME PRICES

Value Range
> $1,050,000 0.0
$787,001 - $1,050,000 0.3
$525,001 - $787,000 0.0
$420,001 - $525,000 0.6
$315,001 - $420,000 3.6
$210,001 - $315,000 8.6
$105,001 - $210,000 42.8
$53,001 - $105,000 36.6
$0 - $53,000 7.5

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
68.0857293435615 60.7594936708861

Number Of Homes And Apartments:
3,885

Rent & Ownership

 

Average Market Rent:
$916 / per month

Homeownership Rate

Homeownership
Owners 55.69
Renters 44.31
Vacant 9.97

Housing Market Details

 

Age of Homes

AGE OF Steger HOMES
2000 or Newer 6.7
1970 - 1999 39.5
1940 - 1969 40.8
1939 or Older 13.0

Types of Homes

TYPE OF Steger HOMES
Single-Family 65.5
Townhomes 1.4
Small Apt. Buildings 11.1
Apt. Complexes 21.3
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Steger HOMES
No Bedroom 5.19
1 Bedroom 16.85
2 Bedrooms 22.99
3 Bedrooms 44.68
4 Bedrooms 7.28
5 or more bedrooms 3.01

Steger 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
-6.94% -0.42% 1 1
* 10 is highest