Hoffman Estates, IL Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hoffman Estates, IL Housing Market Trends

With a population of 50,932, 17,717 total housing units (homes and apartments), and a median house value of $271,751, Hoffman Estates real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hoffman Estates, accounting for 60.92% of the village's housing units. Other types of housing that are prevalent in Hoffman Estates include large apartment complexes or high rise apartments ( 19.79%), row houses and other attached homes ( 14.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hoffman Estates. Owner-occupied housing accounts for 75.39% of Hoffman Estates's homes, and 65.65% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hoffman Estates 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 Hoffman Estates built between 1940-1969 ( 27.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.00%). There's also some housing in Hoffman Estates built before 1939 ( 2.23%).

Hoffman Estates Home Appreciation Rates

Real estate appreciation rates in Hoffman Estates's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.83% during the period.

Over the last year, Hoffman Estates appreciation rates have trailed the rest of the nation. In the last twelve months, Hoffman Estates's appreciation rate has been 4.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hoffman Estates were at 1.88%, which equates to an annual appreciation rate of 7.75%.

Notably, Hoffman Estates's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$271,751

Hoffman Estates, IL HOME PRICES

> $1,133,000
0.8%
0.8%
$850,001 - $1,133,000
1.4%
1.4%
$567,001 - $850,000
5.3%
5.3%
$453,001 - $567,000
8.4%
8.4%
$340,001 - $453,000
21.3%
21.3%
$227,001 - $340,000
29.2%
29.2%
$113,001 - $227,000
25.7%
25.7%
$57,001 - $113,000
5.5%
5.5%
$0 - $57,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
17,717

Hoffman Estates Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
43.80% 1.70%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,129 / per month

Homeownership Rate

Owners
75.4%
75.4%
Renters
24.6%
24.6%
Vacant
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.0%
10.0%
1970 - 1999
59.9%
59.9%
1940 - 1969
27.9%
27.9%
1939 or Older
2.2%
2.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
60.9%
60.9%
Townhomes
14.6%
14.6%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
19.8%
19.8%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.5%
1.5%
1 Bedroom
6.6%
6.6%
2 Bedrooms
20.8%
20.8%
3 Bedrooms
38.1%
38.1%
4 Bedrooms
27.6%
27.6%
5 or more bedrooms
5.5%
5.5%
0.0% 100.0%
% OF HOMES