University Park, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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University 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

University Park Housing Market Information

With 7,070 people, 2,605 houses or apartments, and a median cost of homes of $102,540, house prices in University Park are solidly below the national average.

Single-family detached homes are the single most common housing type in University Park, accounting for 48.37% of the village's housing units. Other types of housing that are prevalent in University Park include large apartment complexes or high rise apartments ( 22.86%), duplexes, homes converted to apartments or other small apartment buildings ( 16.86%), and a few row houses and other attached homes ( 11.90%).

The most prevalent building size and type in University Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 53.21% owning and 46.79% renting.

There is a lot of housing in University 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 University Park built between 1940-1969 ( 28.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.02%). There's also some housing in University Park built before 1939 ( 2.18%).

Vacant housing appears to be an issue in University Park. Fully 12.67% of the housing stock is classified as vacant. Left unchecked, vacant University Park homes and apartments can be a drag on the real estate market, holding University Park 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.

University Park Home Appreciation Rates

Homes have actually lost value in University Park over the last then years, as home values have seen a decline of 30.86% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows University Park home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in University Park that despite a nationwide downturn in the housing market, University Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, University Park appreciation rates continue to be some of the highest in America, at 7.28%, which is higher than appreciation rates in 82.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in University Park. University Park appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$102,540

University Park, IL HOME PRICES

Value Range
> $1,099,000 0.1
$825,001 - $1,099,000 0.0
$549,001 - $825,000 0.2
$440,001 - $549,000 0.4
$330,001 - $440,000 3.4
$220,001 - $330,000 8.5
$110,001 - $220,000 39.1
$55,001 - $110,000 38.3
$0 - $55,000 10.1

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
75.958045236142 68.9873417721519

Number Of Homes And Apartments:
2,605

University 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
4.61% 0.26% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,277 / per month

Homeownership Rate

Homeownership
Owners 53.21
Renters 46.79
Vacant 12.67

Housing Market Details

 

Age of Homes

AGE OF University Park HOMES
2000 or Newer 9.0
1970 - 1999 60.3
1940 - 1969 28.5
1939 or Older 2.2

Types of Homes

TYPE OF University Park HOMES
Single-Family 48.4
Townhomes 11.9
Small Apt. Buildings 16.9
Apt. Complexes 22.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF University Park HOMES
No Bedroom 0.00
1 Bedroom 10.09
2 Bedrooms 26.65
3 Bedrooms 43.14
4 Bedrooms 15.92
5 or more bedrooms 4.19

Popular Neighborhoods in University Park

Zip Codes in University Park, IL