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 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%).
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.
$608,120
for Illinois
for nation
10,366
$3,122 / per month