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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 22,932 people, 7,672 houses or apartments, and a median cost of homes of $255,386, Maywood real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Maywood, accounting for 66.69% of the village's housing units. Other types of housing that are prevalent in Maywood include duplexes, homes converted to apartments or other small apartment buildings ( 19.44%), large apartment complexes or high rise apartments ( 13.02%).
The most prevalent building size and type in Maywood are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 61.97% owning and 38.03% renting.
The housing in Maywood was primarily built before 1939 ( 57.27%), making the housing stock in Maywood some of the oldest overall in America, although there is a range of ages of homes in Maywood. The next most important housing age is between 1940-1969 ( 30.27%), followed by between 1970-1999 ( 11.19%). There's also some housing in Maywood built between 2000 and later ( 1.27%).
Vacant housing appears to be an issue in Maywood. Fully 13.00% of the housing stock is classified as vacant. Left unchecked, vacant Maywood homes and apartments can be a drag on the real estate market, holding Maywood real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Maywood has experienced some of the highest home appreciation rates of any community in the nation. Maywood real estate appreciated 120.25% over the last ten years, which is an average annual home appreciation rate of 8.22%, putting Maywood in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Maywood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Maywood that despite a nationwide downturn in the housing market, Maywood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Maywood appreciation rates continue to be some of the highest in America, at 8.27%, which is higher than appreciation rates in 72.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Maywood. Maywood appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Maywood's latest annual appreciation rate is higher than 50% 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 Maywood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Maywood - 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 Maywood real estate investment or home purchase decisions.
$255,386
for Illinois
for nation
7,672
$1,926 / per month