Riverside appreciation rates and housing market information

Riverside housing market information

With 9,120 people, 3,674 houses or apartments, and a median cost of homes of $498,500, Riverside house prices are not only among the most expensive in Illinois, Riverside 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 Riverside, accounting for 72.29% of the village's housing units. Other types of housing that are prevalent in Riverside include large apartment complexes or high rise apartments (16.55%), duplexes, homes converted to apartments, or other small apartment buildings (8.68%), and a few row houses and other attached homes (2.31%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Riverside. Owner-occupied housing accounts for 76.97% of Riverside's homes, and 57.37% have either three or four bedrooms, which is average sized relative to America.

The housing in Riverside was primarily built before 1939 (56.72%), making the housing stock in Riverside some of the older overall in America, although there is a range of ages of homes in Riverside. The next most important Riverside housing age is 1940-1969 (37.10%), followed by 1970-1994 (5.61%). There's also some housing in Riverside built between 1995 and later (.57%).

Riverside home appreciation rates

Appreciation rates for homes in Riverside have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.84%, which ranks in the top 40% nationwide. This equates to an annual average Riverside house appreciation rate of 8.98%.

Over the last year, Riverside appreciation rates have trailed the rest of the nation. In the last twelve months, Riverside's appreciation rate has been -0.41%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Riverside were at -1.03%, which equates to an annual appreciation rate of -4.12%.

Relative to Illinois, our data show that Riverside's latest annual appreciation rate is higher than 21% of the other cities and towns in Illinois.