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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.



Vernon Hills, 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

Vernon Hills, IL Housing Market Trends

With a population of 26,759, 10,366 total housing units (homes and apartments), and a median house value of $608,120, Vernon Hills house prices are not only among the most expensive in Illinois, Vernon Hills 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 Vernon Hills, accounting for 36.54% of the village's housing units. Other types of housing that are prevalent in Vernon Hills include large apartment complexes or high rise apartments ( 26.36%), row houses and other attached homes ( 25.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.28%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vernon Hills. Owner-occupied housing accounts for 65.98% of Vernon Hills's homes, and 54.97% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Vernon Hills 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 Vernon Hills built between 2000 and later ( 32.11%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.11%).

Vernon Hills Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Vernon Hills, where house values have increased just 51.28%, which is annualized rate of 4.23%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Vernon Hills that despite a nationwide downturn in the housing market, Vernon Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Vernon Hills appreciation rates continue to be some of the highest in America, at 8.89%, which is higher than appreciation rates in 80.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Vernon Hills. Vernon Hills 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 Vernon Hills's latest annual appreciation rate is higher than 70% 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 village. Individual neighborhoods within Vernon Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vernon Hills - 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 Vernon Hills real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$608,120

Vernon Hills, IL Home Prices
> $1,334,000
$1,001,001 - $1,334,000
$668,001 - $1,001,000
$534,001 - $668,000
$400,001 - $534,000
$267,001 - $400,000
$133,001 - $267,000
$67,001 - $133,000
$0 - $67,000
2.5%
2.5%
6.5%
6.5%
18.6%
18.6%
20.7%
20.7%
22.7%
22.7%
15.6%
15.6%
12.1%
12.1%
0.5%
0.5%
0.8%
0.8%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

10,366

Vernon Hills Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,122 / per month

Homeownership Rate

Owners
Renters
66.0%
66.0%
34.0%
34.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.9%
6.9%
93.1%
93.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
32.1%
32.1%
63.0%
63.0%
4.1%
4.1%
0.8%
0.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
36.5%
36.5%
25.5%
25.5%
11.3%
11.3%
26.4%
26.4%
0.4%
0.4%
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
2.7%
2.7%
8.9%
8.9%
29.7%
29.7%
34.2%
34.2%
20.8%
20.8%
3.7%
3.7%
0% 100.0%
% of Homes