West Chicago, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating West Chicago Neighborhoods Since 2000




West Chicago, 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

West Chicago Housing Market Information

With a population of 27,447, 7,566 total housing units (homes and apartments), and a median house value of $225,241, West Chicago real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in West Chicago, accounting for 65.49% of the city's housing units. Other types of housing that are prevalent in West Chicago include large apartment complexes or high rise apartments ( 23.76%), row houses and other attached homes ( 6.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Chicago. Owner-occupied housing accounts for 65.90% of West Chicago's homes, and 60.40% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West Chicago 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 West Chicago built between 2000 and later ( 20.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.78%). There's also some housing in West Chicago built before 1939 ( 13.08%).

West Chicago Home Appreciation Rates

Homes have actually lost value in West Chicago over the last then years, as home values have seen a decline of 22.85% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows West Chicago 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, West Chicago's appreciation rate, at 4.12%, has been at or slightly above the national average. In the latest quarter, West Chicago's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that West Chicago's latest annual appreciation rate is higher than 70% 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 city. Individual neighborhoods within West Chicago differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Chicago - 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 West Chicago real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$225,241

West Chicago, IL HOME PRICES

Value Range
> $1,112,000 0.5
$834,001 - $1,112,000 0.9
$556,001 - $834,000 3.8
$445,001 - $556,000 8.7
$333,001 - $445,000 16.3
$222,001 - $333,000 22.9
$111,001 - $222,000 39.0
$55,001 - $111,000 4.9
$0 - $55,000 3.1

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
26.7549513652877 19.620253164557

Number Of Homes And Apartments:
7,566

West Chicago 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
12.01% 0.66% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,242 / per month

Homeownership Rate

Homeownership
Owners 65.90
Renters 34.10
Vacant 5.81

Housing Market Details

 

Age of Homes

AGE OF West Chicago HOMES
2000 or Newer 20.9
1970 - 1999 45.3
1940 - 1969 20.8
1939 or Older 13.1

Types of Homes

TYPE OF West Chicago HOMES
Single-Family 65.5
Townhomes 6.6
Small Apt. Buildings 3.4
Apt. Complexes 23.8
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF West Chicago HOMES
No Bedroom 0.77
1 Bedroom 10.72
2 Bedrooms 22.98
3 Bedrooms 34.76
4 Bedrooms 25.64
5 or more bedrooms 5.13