Loves 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

Loves Park, IL Housing Market Trends

With a population of 23,371, 9,738 total housing units (homes and apartments), and a median house value of $106,287, house prices in Loves Park are solidly below the national average.

Single-family detached homes are the single most common housing type in Loves Park, accounting for 63.55% of the city's housing units. Other types of housing that are prevalent in Loves Park include duplexes, homes converted to apartments or other small apartment buildings ( 15.90%), row houses and other attached homes ( 7.92%), and a few large apartment complexes or high rise apartments ( 7.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Loves Park. Owner-occupied housing accounts for 68.24% of Loves Park's homes, and 55.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Loves Park 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 Loves Park built between 1940-1969 ( 25.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.57%). There's also some housing in Loves Park built before 1939 ( 5.32%).

Loves Park Home Appreciation Rates

Loves Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Loves Park during the period has been just 1.96%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Loves Park's appreciation rate, at 9.67%, has been at or slightly above the national average. In the latest quarter, Loves Park's appreciation rate has been 1.69%, which annualizes to a rate of 6.93%.

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

Relative to Illinois, our data show that Loves Park's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$106,287

Loves Park, IL HOME PRICES

> $1,203,000
0.1%
0.1%
$902,001 - $1,203,000
0.3%
0.3%
$602,001 - $902,000
0.5%
0.5%
$481,001 - $602,000
0.8%
0.8%
$361,001 - $481,000
2.2%
2.2%
$240,001 - $361,000
5.6%
5.6%
$120,001 - $240,000
43.1%
43.1%
$60,001 - $120,000
37.9%
37.9%
$0 - $60,000
9.5%
9.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for IL

Value Relative To Nation

Number Of Homes And Apartments:
9,738

Loves 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
24.45% 1.02%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,026 / per month

Homeownership Rate

Owners
68.2%
68.2%
Renters
31.8%
31.8%
Vacant
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.6%
22.6%
1970 - 1999
46.5%
46.5%
1940 - 1969
25.6%
25.6%
1939 or Older
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.5%
63.5%
Townhomes
7.9%
7.9%
Small Apt. Buildings
15.9%
15.9%
Apt. Complexes
7.4%
7.4%
Mobile Homes
5.2%
5.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
4.9%
4.9%
2 Bedrooms
35.9%
35.9%
3 Bedrooms
38.7%
38.7%
4 Bedrooms
16.3%
16.3%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES