Lake Bluff, 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

Lake Bluff, IL Housing Market Trends

With 5,562 people, 1,955 houses or apartments, and a median cost of homes of $469,290, Lake Bluff house prices are not only among the most expensive in Illinois, Lake Bluff real estate also is some of the most expensive in all of America.

Lake Bluff is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Lake Bluff than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Bluff. Owner-occupied housing accounts for 91.46% of Lake Bluff's homes, and 77.04% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Bluff 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 Lake Bluff built between 1940-1969 ( 36.59%). A lesser amount of the housing stock also hails from before 1939 ( 17.49%). There's also some housing in Lake Bluff built between 2000 and later ( 4.20%).

Lake Bluff Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Lake Bluff, where house values have increased just 18.78%, which is annualized rate of 1.74%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Lake Bluff appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Bluff's appreciation rate has been 4.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Bluff were at 1.88%, which equates to an annual appreciation rate of 7.75%.

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

Relative to Illinois, our data show that Lake Bluff's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$469,290

Lake Bluff, IL HOME PRICES

> $1,008,000
19.6%
19.6%
$756,001 - $1,008,000
16.0%
16.0%
$504,001 - $756,000
27.1%
27.1%
$403,001 - $504,000
15.0%
15.0%
$302,001 - $403,000
8.8%
8.8%
$202,001 - $302,000
6.1%
6.1%
$101,001 - $202,000
2.1%
2.1%
$50,001 - $101,000
3.0%
3.0%
$0 - $50,000
2.4%
2.4%
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:
1,955

Lake Bluff 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
39.37% 1.56%
5
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,322 / per month

Homeownership Rate

Owners
91.5%
91.5%
Renters
8.5%
8.5%
Vacant
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.2%
4.2%
1970 - 1999
41.7%
41.7%
1940 - 1969
36.6%
36.6%
1939 or Older
17.5%
17.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
91.9%
91.9%
Townhomes
4.2%
4.2%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
2.2%
2.2%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
2.7%
2.7%
2 Bedrooms
5.7%
5.7%
3 Bedrooms
29.0%
29.0%
4 Bedrooms
48.1%
48.1%
5 or more bedrooms
14.5%
14.5%
0.0% 100.0%
% OF HOMES