Romeoville appreciation rates and housing market information

Romeoville housing market information

With 21,142 people, 7,368 houses or apartments, and a median cost of homes of $224,500, Romeoville real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Romeoville, accounting for 79.09% of the village's housing units. Other types of housing that are prevalent in Romeoville include large apartment complexes or high rise apartments (11.69%), row houses and other attached homes (8.18%), and a few duplexes, homes converted to apartments, or other small apartment buildings (0.83%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Romeoville. Owner-occupied housing accounts for 79.11% of Romeoville's homes, and 76.08% have either three or four bedrooms, which is average sized relative to America.

Romeoville homes and real estate are some of the newest in America. 41.87% of Romeoville's housing was built since 1995, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Romeoville real estate market has to offer. Quit a bit of the housing here was also built between 1940-1969 (36.02%), and 1970-1994 (21.40%).

Romeoville home appreciation rates

Appreciation rates for homes in Romeoville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.73%, which ranks in the top 40% nationwide. This equates to an annual average Romeoville house appreciation rate of 9.57%.

Over the last year, Romeoville appreciation rates have trailed the rest of the nation. In the last twelve months, Romeoville's appreciation rate has been 0.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Romeoville were at -0.88%, which equates to an annual appreciation rate of -3.52%.

Relative to Illinois, our data show that Romeoville's latest annual appreciation rate is higher than 26% of the other cities and towns in Illinois.