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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.



Cicero, 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 Q2 2024. 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

Cicero, IL Housing Market Trends

With a population of 81,919, 24,600 total housing units (homes and apartments), and a median house value of $278,345, Cicero real estate and house prices are near the national average for all cities and towns.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Cicero, accounting for 43.93% of the town's housing units. Other types of housing that are prevalent in Cicero include single-family detached homes ( 41.57%), large apartment complexes or high rise apartments ( 11.91%), and a few row houses and other attached homes ( 2.25%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

People in Cicero primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Cicero has a mixture of owner-occupied and renter-occupied housing.

The housing in Cicero was primarily built before 1939 ( 66.53%), making the housing stock in Cicero some of the oldest overall in America, although there is a range of ages of homes in Cicero. The next most important housing age is between 1940-1969 ( 23.62%), followed by between 1970-1999 ( 8.73%). There's also some housing in Cicero built between 2000 and later ( 1.12%).

Cicero Home Appreciation Rates

In the last 10 years, Cicero has experienced some of the highest home appreciation rates of any community in the nation. Cicero real estate appreciated 123.66% over the last ten years, which is an average annual home appreciation rate of 8.38%, putting Cicero in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cicero definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Cicero appreciation rates have trailed the rest of the nation. In the last twelve months, Cicero's appreciation rate has been 1.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cicero were at 2.79%, which equates to an annual appreciation rate of 11.63%.

Relative to Illinois, our data show that Cicero's latest annual appreciation rate is lower than 90% 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 town. Individual neighborhoods within Cicero differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cicero - 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 Cicero real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$278,345

Cicero, IL Home Prices
> $1,212,000
$909,001 - $1,212,000
$606,001 - $909,000
$485,001 - $606,000
$364,001 - $485,000
$242,001 - $364,000
$121,001 - $242,000
$60,001 - $121,000
$0 - $60,000
0.2%
0.2%
0.2%
0.2%
0.8%
0.8%
1.4%
1.4%
10.4%
10.4%
49.1%
49.1%
33.1%
33.1%
2.0%
2.0%
2.9%
2.9%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

24,600

Cicero Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,920 / per month

Homeownership Rate

Owners
Renters
54.1%
54.1%
45.9%
45.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.7%
6.7%
93.3%
93.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.1%
1.1%
8.7%
8.7%
23.6%
23.6%
66.5%
66.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.6%
41.6%
2.2%
2.2%
43.9%
43.9%
11.9%
11.9%
0.3%
0.3%
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
3.2%
3.2%
10.8%
10.8%
37.2%
37.2%
33.9%
33.9%
9.0%
9.0%
5.9%
5.9%
0% 100.0%
% of Homes