Tinley Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tinley Park, 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

Tinley Park Housing Market Information

With 57,143 people, 21,041 houses or apartments, and a median cost of homes of $231,050, Tinley 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 Tinley Park, accounting for 56.73% of the village's housing units. Other types of housing that are prevalent in Tinley Park include large apartment complexes or high rise apartments ( 19.75%), row houses and other attached homes ( 19.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tinley Park. Owner-occupied housing accounts for 84.12% of Tinley Park's homes, and 57.72% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Tinley Park 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 Tinley Park built between 2000 and later ( 20.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.37%). There's also some housing in Tinley Park built before 1939 ( 1.27%).

Tinley Park Home Appreciation Rates

Homes have actually lost value in Tinley Park over the last then years, as home values have seen a decline of 19.76% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Tinley Park 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, Tinley Park's appreciation rate, at 3.30%, has been at or slightly above the national average. In the latest quarter, Tinley Park's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Tinley Park's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Tinley Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tinley Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Tinley Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$231,050

Tinley Park, IL HOME PRICES

Value Range
> $1,073,000 0.3
$805,001 - $1,073,000 0.2
$537,001 - $805,000 0.6
$429,001 - $537,000 4.1
$322,001 - $429,000 16.5
$214,001 - $322,000 39.6
$107,001 - $214,000 33.1
$54,001 - $107,000 3.3
$0 - $54,000 2.2

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
25.6592054377124 18.4810126582279

Number Of Homes And Apartments:
21,041

Tinley Park 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
18.74% 1.00% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,278 / per month

Homeownership Rate

Homeownership
Owners 84.12
Renters 15.88
Vacant 4.40

Housing Market Details

 

Age of Homes

AGE OF Tinley Park HOMES
2000 or Newer 20.5
1970 - 1999 62.9
1940 - 1969 15.4
1939 or Older 1.3

Types of Homes

TYPE OF Tinley Park HOMES
Single-Family 56.7
Townhomes 19.1
Small Apt. Buildings 4.3
Apt. Complexes 19.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Tinley Park HOMES
No Bedroom 0.49
1 Bedroom 4.51
2 Bedrooms 33.33
3 Bedrooms 40.14
4 Bedrooms 17.59
5 or more bedrooms 3.94