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 a population of 3,990, 1,316 total housing units (homes and apartments), and a median house value of $63,677, house prices in Washington Park 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 Washington Park, accounting for 85.88% of the village's housing units. Other types of housing that are prevalent in Washington Park include duplexes, homes converted to apartments or other small apartment buildings ( 5.05%), large apartment complexes or high rise apartments ( 4.56%), and a few mobile homes or trailers ( 3.04%).
People in Washington Park primarily live in small (one, two or no bedroom) single-family detached homes. Washington Park has a mixture of owner-occupied and renter-occupied housing.
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. Washington Park's housing was primarily built during this period, from the '40s through the '60s. A full 58.31% of the village's housing hails from this era. Other housing ages represented in Washington Park include homes built before 1939 ( 21.97%) and housing constructed between 1970-1999 ( 14.62%). There's also some housing in Washington Park built between 2000 and later ( 5.10%).
Vacant housing appears to be an issue in Washington Park. Fully 35.46% of the housing stock is classified as vacant. Left unchecked, vacant Washington Park homes and apartments can be a drag on the real estate market, holding Washington 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.
Real estate appreciation rates in Washington Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.
NeighborhoodScout's data show that during the latest twelve months, Washington Park's appreciation rate, at 3.88%, has been at or slightly above the national average. In the latest quarter, Washington Park's appreciation rate has been 1.03%, which annualizes to a rate of 4.19%.
Relative to Illinois, our data show that Washington Park's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.
|$824,001 - $1,099,000||0.1|
|$549,001 - $824,000||0.0|
|$439,001 - $549,000||0.0|
|$329,001 - $439,000||0.0|
|$220,001 - $329,000||1.3|
|$110,001 - $220,000||14.7|
|$55,001 - $110,000||33.3|
|$0 - $55,000||50.5|
|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 Washington Park HOMES|
|2000 or Newer||5.1|
|1970 - 1999||14.6|
|1940 - 1969||58.3|
|1939 or Older||22.0|
|TYPE OF Washington Park HOMES|
|Small Apt. Buildings||5.1|
|SIZE OF Washington Park HOMES|
|5 or more bedrooms||3.58|