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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Northfield, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Northfield, IL Housing Market Trends

With a population of 5,578, 2,340 total housing units (homes and apartments), and a median house value of $1,086,510, Northfield house prices are not only among the most expensive in Illinois, Northfield real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Northfield, accounting for 72.52% of the village's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 16.57%), row houses and other attached homes ( 9.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.28%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northfield. Owner-occupied housing accounts for 91.78% of Northfield's homes, and 49.82% 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. Northfield's housing was primarily built during this period, from the '40s through the '60s. A full 49.58% of the village's housing hails from this era. Other housing ages represented in Northfield include homes built between 1970-1999 ( 34.30%) and housing constructed between 2000 and later ( 9.39%). There's also some housing in Northfield built before 1939 ( 6.74%).

Northfield Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Northfield, where house values have increased just 33.04%, which is annualized rate of 2.90%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Northfield appreciation rates have trailed the rest of the nation. In the last twelve months, Northfield's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northfield were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Northfield's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$1,086,510

Northfield, IL Home Prices
> $1,208,000
$906,001 - $1,208,000
$604,001 - $906,000
$483,001 - $604,000
$362,001 - $483,000
$242,001 - $362,000
$121,001 - $242,000
$60,001 - $121,000
$0 - $60,000
36.0%
36.0%
12.2%
12.2%
18.9%
18.9%
10.1%
10.1%
7.0%
7.0%
9.8%
9.8%
5.6%
5.6%
0.0%
0.0%
0.3%
0.3%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

2,340

Northfield Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,769 / per month

Homeownership Rate

Owners
Renters
91.8%
91.8%
8.2%
8.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.1%
6.1%
93.9%
93.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.4%
9.4%
34.3%
34.3%
49.6%
49.6%
6.7%
6.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.5%
72.5%
9.6%
9.6%
1.3%
1.3%
16.6%
16.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
2.2%
2.2%
27.9%
27.9%
26.6%
26.6%
23.3%
23.3%
19.1%
19.1%
0% 100.0%
% of Homes