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 a population of 9,005, 3,282 total housing units (homes and apartments), and a median house value of $302,278, Lynwood real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Lynwood, accounting for 61.66% of the village's housing units. Other types of housing that are prevalent in Lynwood include mobile homes or trailers ( 24.99%), row houses and other attached homes ( 4.69%), and a few large apartment complexes or high rise apartments ( 4.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lynwood. Owner-occupied housing accounts for 78.08% of Lynwood's homes, and 69.45% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lynwood built from 1970 to 1999 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 Lynwood built between 2000 and later ( 35.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.54%).
Appreciation rates for homes in Lynwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.43%, which ranks in the top 30% nationwide. This equates to an annual average Lynwood house appreciation rate of 7.62%.
Appreciation rates are so strong in Lynwood that despite a nationwide downturn in the housing market, Lynwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lynwood appreciation rates continue to be some of the highest in America, at 10.19%, which is higher than appreciation rates in 88.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lynwood. Lynwood 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 Lynwood's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.
$302,278
for Illinois
for nation
3,282
$2,010 / per month