Wilmette, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Wilmette Neighborhoods Since 2000




Wilmette, 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

Wilmette Housing Market Information

With 27,413 people, 9,515 houses or apartments, and a median cost of homes of $765,536, Wilmette house prices are not only among the most expensive in Illinois, Wilmette real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Wilmette, accounting for 77.42% of the village's housing units. Other types of housing that are prevalent in Wilmette include large apartment complexes or high rise apartments ( 16.67%), row houses and other attached homes ( 4.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wilmette. Owner-occupied housing accounts for 85.69% of Wilmette's homes, and 64.54% have either three or four bedrooms, which is average sized relative to America.

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. Wilmette's housing was primarily built during this period, from the '40s through the '60s. A full 46.87% of the village's housing hails from this era. Other housing ages represented in Wilmette include homes built before 1939 ( 32.05%) and housing constructed between 1970-1999 ( 13.38%). There's also some housing in Wilmette built between 2000 and later ( 7.70%).

Wilmette Home Appreciation Rates

Real estate appreciation rates in Wilmette's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.47% during the period.

Over the last year, Wilmette appreciation rates have trailed the rest of the nation. In the last twelve months, Wilmette's appreciation rate has been 0.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wilmette were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Wilmette's latest annual appreciation rate is lower than 80% 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 Wilmette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilmette - 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 Wilmette real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$765,536

Wilmette, IL HOME PRICES

Value Range
> $1,110,000 21.9
$832,001 - $1,110,000 16.0
$555,001 - $832,000 25.8
$444,001 - $555,000 11.7
$333,001 - $444,000 12.3
$222,001 - $333,000 6.8
$111,001 - $222,000 3.4
$56,001 - $111,000 0.6
$0 - $56,000 1.4

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
2.17391304347826 1.0126582278481

Number Of Homes And Apartments:
9,515

Wilmette 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
43.68% 2.12% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,278 / per month

Homeownership Rate

Homeownership
Owners 85.69
Renters 14.31
Vacant 3.79

Housing Market Details

 

Age of Homes

AGE OF Wilmette HOMES
2000 or Newer 7.7
1970 - 1999 13.4
1940 - 1969 46.9
1939 or Older 32.1

Types of Homes

TYPE OF Wilmette HOMES
Single-Family 77.4
Townhomes 4.4
Small Apt. Buildings 1.4
Apt. Complexes 16.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wilmette HOMES
No Bedroom 0.85
1 Bedroom 5.37
2 Bedrooms 12.96
3 Bedrooms 33.28
4 Bedrooms 31.26
5 or more bedrooms 16.28