La Grange Park, 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

La Grange Park, IL Housing Market Trends

With 13,178 people, 5,028 houses or apartments, and a median cost of homes of $357,196, La Grange Park real estate is some of the most expensive in Illinois, although La Grange Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in La Grange Park, accounting for 67.54% of the village's housing units. Other types of housing that are prevalent in La Grange Park include large apartment complexes or high rise apartments ( 23.08%), duplexes, homes converted to apartments or other small apartment buildings ( 7.95%), and a few row houses and other attached homes ( 1.30%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in La Grange Park. Owner-occupied housing accounts for 70.96% of La Grange Park's homes, and 56.88% 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. La Grange Park's housing was primarily built during this period, from the '40s through the '60s. A full 63.46% of the village's housing hails from this era. Other housing ages represented in La Grange Park include homes built between 1970-1999 ( 14.96%) and housing constructed before 1939 ( 14.74%). There's also some housing in La Grange Park built between 2000 and later ( 6.84%).

La Grange Park Home Appreciation Rates

La Grange Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in La Grange Park during the period has been just 2.31%, which is lower than 80% of US communities.

Over the last year, La Grange Park appreciation rates have trailed the rest of the nation. In the last twelve months, La Grange Park'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 La Grange Park were at 1.88%, which equates to an annual appreciation rate of 7.75%.

Notably, La Grange Park's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that La Grange Park's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$357,196

La Grange Park, IL HOME PRICES

> $1,098,000
1.2%
1.2%
$823,001 - $1,098,000
3.0%
3.0%
$549,001 - $823,000
17.3%
17.3%
$439,001 - $549,000
18.5%
18.5%
$329,001 - $439,000
28.8%
28.8%
$219,001 - $329,000
25.5%
25.5%
$110,001 - $219,000
4.6%
4.6%
$55,001 - $110,000
0.2%
0.2%
$0 - $55,000
0.8%
0.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IL

Value Relative To Nation

Number Of Homes And Apartments:
5,028

La Grange Park 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
56.56% 2.11%
8
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,687 / per month

Homeownership Rate

Owners
71.0%
71.0%
Renters
29.0%
29.0%
Vacant
6.8%
6.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.8%
6.8%
1970 - 1999
15.0%
15.0%
1940 - 1969
63.5%
63.5%
1939 or Older
14.7%
14.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.5%
67.5%
Townhomes
1.3%
1.3%
Small Apt. Buildings
8.0%
8.0%
Apt. Complexes
23.1%
23.1%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
11.4%
11.4%
2 Bedrooms
27.2%
27.2%
3 Bedrooms
39.1%
39.1%
4 Bedrooms
17.8%
17.8%
5 or more bedrooms
4.0%
4.0%
0.0% 100.0%
% OF HOMES