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 13,971 people, 5,251 houses or apartments, and a median cost of homes of $282,558, Chicago Ridge real estate and house prices are near the national average for all cities and towns.
Large apartment complexes or high rise apartments are the single most common housing type in Chicago Ridge, accounting for 55.58% of the village's housing units. Other types of housing that are prevalent in Chicago Ridge include single-family detached homes ( 37.66%), duplexes, homes converted to apartments or other small apartment buildings ( 4.16%), and a few row houses and other attached homes ( 2.60%). This particular housing mix is relatively uncommon and characteristic of villages that are compact and walkable, and which often have a lively downtown.
People in Chicago Ridge primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Chicago Ridge has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Chicago Ridge 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 Chicago Ridge built between 1940-1969 ( 44.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.46%). There's also some housing in Chicago Ridge built before 1939 ( 2.39%).
Appreciation rates for homes in Chicago Ridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.42%, which ranks in the top 50% nationwide. This equates to an annual average Chicago Ridge house appreciation rate of 6.60%.
Over the last year, Chicago Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Chicago Ridge's appreciation rate has been 7.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chicago Ridge were at 0.26%, which equates to an annual appreciation rate of 1.03%.
Relative to Illinois, our data show that Chicago Ridge's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.
$282,558
for Illinois
for nation
5,251
$1,930 / per month