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
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF University Park HOMES|
|2000 or Newer||9.0|
|1970 - 1999||60.3|
|1940 - 1969||28.5|
|1939 or Older||2.2|
|TYPE OF University Park HOMES|
|Small Apt. Buildings||16.9|
|SIZE OF University Park HOMES|
|5 or more bedrooms||4.19|