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 35,167 people, 13,074 houses or apartments, and a median cost of homes of $377,873, Addison real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Addison, accounting for 55.10% of the village's housing units. Other types of housing that are prevalent in Addison include large apartment complexes or high rise apartments ( 27.56%), duplexes, homes converted to apartments or other small apartment buildings ( 9.52%), and a few row houses and other attached homes ( 7.70%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Addison. Owner-occupied housing accounts for 66.87% of Addison's homes, and 56.15% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Addison 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 Addison built between 1940-1969 ( 43.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.94%). There's also some housing in Addison built before 1939 ( 2.21%).
Addison's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Addison during the period has been just 5.80%, which is lower than 70% of US communities.
Appreciation rates are so strong in Addison that despite a nationwide downturn in the housing market, Addison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Addison appreciation rates continue to be some of the highest in America, at 10.28%, which is higher than appreciation rates in 83.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Addison. Addison appreciation rates in the latest quarter were at 2.27%, which equates to an annual appreciation rate of 9.38%.
Relative to Illinois, our data show that Addison's latest annual appreciation rate is lower than 60% 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 Addison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Addison - 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 Addison real estate investment or home purchase decisions.
$377,873
for Illinois
for nation
13,074
$2,092 / per month