Steger, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Steger Neighborhoods Since 2000




Steger, 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

Steger Housing Market Information

With a population of 9,515, 3,886 total housing units (homes and apartments), and a median house value of $88,352, house prices in Steger are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Steger, accounting for 65.99% of the village's housing units. Other types of housing that are prevalent in Steger include large apartment complexes or high rise apartments ( 22.63%), duplexes, homes converted to apartments or other small apartment buildings ( 9.36%), and a few row houses and other attached homes ( 1.51%).

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 58.86% owning and 41.14% renting.

There is a lot of housing in Steger 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 Steger built between 1940-1969 ( 38.98%). A lesser amount of the housing stock also hails from before 1939 ( 13.62%). There's also some housing in Steger built between 2000 and later ( 6.49%).

Vacant housing appears to be an issue in Steger. Fully 10.89% of the housing stock is classified as vacant. Left unchecked, vacant Steger homes and apartments can be a drag on the real estate market, holding Steger real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Steger Home Appreciation Rates

Homes have actually lost value in Steger over the last then years, as home values have seen a decline of 39.97% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Steger home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Over the last year, Steger appreciation rates have trailed the rest of the nation. In the last twelve months, Steger's appreciation rate has been -4.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Steger were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$88,352

Steger, IL HOME PRICES

Value Range
> $943,000 0.0
$707,001 - $943,000 0.6
$471,001 - $707,000 0.4
$377,001 - $471,000 0.5
$283,001 - $377,000 2.6
$189,001 - $283,000 6.7
$94,001 - $189,000 42.6
$47,001 - $94,000 39.1
$0 - $47,000 7.5

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
85.2513770069143 81.0126582278481

Number Of Homes And Apartments:
3,886

Steger 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
-18.11% -1.15% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,053 / per month

Homeownership Rate

Homeownership
Owners 58.86
Renters 41.14
Vacant 10.89

Housing Market Details

 

Age of Homes

AGE OF Steger HOMES
2000 or Newer 6.5
1970 - 1999 40.9
1940 - 1969 39.0
1939 or Older 13.6

Types of Homes

TYPE OF Steger HOMES
Single-Family 66.0
Townhomes 1.5
Small Apt. Buildings 9.4
Apt. Complexes 22.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Steger HOMES
No Bedroom 5.60
1 Bedroom 18.18
2 Bedrooms 20.55
3 Bedrooms 41.96
4 Bedrooms 9.75
5 or more bedrooms 3.97