New Lenox appreciation rates and housing market information

New Lenox housing market information

With a population of 17,617, 6,063 total housing units (homes and apartments), and a median house value of $339,100, New Lenox house prices are not only among the most expensive in Illinois, New Lenox 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 New Lenox, accounting for 75.44% of the village's housing units. Other types of housing that are prevalent in New Lenox include row houses and other attached homes (12.77%), large apartment complexes or high rise apartments (7.01%), and a few duplexes, homes converted to apartments, or other small apartment buildings (4.44%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in New Lenox. Owner-occupied housing accounts for 86.52% of New Lenox's homes, and 71.86% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Lenox built from 1970-1994, 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 New Lenox built from 1995 and later (32.71%). A lesser amount of the housing stock also hails from 1940-1969 (14.07%), and some were built from 1939 and earlier (14.07%).

New Lenox home appreciation rates

Appreciation rates for homes in New Lenox have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.60%, which ranks in the top 30% nationwide. This equates to an annual average New Lenox house appreciation rate of 9.96%.

Over the last year, New Lenox appreciation rates have trailed the rest of the nation. In the last twelve months, New Lenox's appreciation rate has been 0.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Lenox were at -0.79%, which equates to an annual appreciation rate of -3.16%.

Relative to Illinois, our data show that New Lenox's latest annual appreciation rate is higher than 29% of the other cities and towns in Illinois.