Housing in Elgin, IL is quite desirable, with the median value being $264,200 - significantly less than the US House Median Value of $338,100. This makes Elgin a great place to purchase a home due to its relative affordability. Furthermore, the 1 year house appreciation rate is 9.73%, which is higher than the national rate of 8.27%. This means that home values are increasing faster in Elgin than other parts of the country, making it an even better investment for potential homeowners in this area.
The median home cost in Elgin is $264,200. Home appreciation the last 10 years has been 63.3%. Home Appreciation in Elgin is up 12.6%.
Average Age of Homes
- The median age of Elgin real estate is 42 years old
The Rental Market in Elgin
- Renters make up 29.9% of the Elgin population
- 0.9% of houses and apartments in Elgin, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.