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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 8,722 people, 3,583 houses or apartments, and a median cost of homes of $420,293, Harwood Heights real estate is some of the most expensive in Illinois, although Harwood Heights home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Harwood Heights, accounting for 47.67% of the village's housing units. Other types of housing that are prevalent in Harwood Heights include large apartment complexes or high rise apartments ( 40.30%), duplexes, homes converted to apartments or other small apartment buildings ( 11.66%).
People in Harwood Heights primarily live in small (one, two or no bedroom) single-family detached homes. Harwood Heights has a mixture of owner-occupied and renter-occupied housing.
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. Harwood Heights's housing was primarily built during this period, from the '40s through the '60s. A full 50.42% of the village's housing hails from this era. Other housing ages represented in Harwood Heights include homes built between 1970-1999 ( 28.80%) and housing constructed between 2000 and later ( 15.14%). There's also some housing in Harwood Heights built before 1939 ( 5.64%).
Harwood Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Harwood Heights during the period has been just 5.06%, which is lower than 80% of US communities.
Appreciation rates are so strong in Harwood Heights that despite a nationwide downturn in the housing market, Harwood Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harwood Heights appreciation rates continue to be some of the highest in America, at 7.99%, which is higher than appreciation rates in 70.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harwood Heights. Harwood Heights appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Harwood Heights's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.
$420,293
for Illinois
for nation
3,583
$1,992 / per month