Morton Grove, IL has a median house value of $356,300, slightly higher than the US median value of $338,100. This suggests that the real-estate market in Morton Grove is very competitive and the prices are relatively high for the area. The US 1 year house appreciation rate is 8.27%, whereas in Morton Grove it is higher at 8.83%. This implies that values are increasing at a faster rate in Morton Grove compared to the national average, making it an attractive market for potential homeowners.
The median home cost in Morton Grove is $356,300. Home appreciation the last 10 years has been 54.6%. Home Appreciation in Morton Grove is up 14.5%.
Average Age of Homes
- The median age of Morton Grove real estate is 57 years old
The Rental Market in Morton Grove
- Renters make up 7.7% of the Morton Grove population
- 1.1% of houses and apartments in Morton Grove, 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.