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 26,105, 9,507 total housing units (homes and apartments), and a median house value of $364,234, Lockport real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Lockport, accounting for 68.36% of the city's housing units. Other types of housing that are prevalent in Lockport include row houses and other attached homes ( 19.37%), duplexes, homes converted to apartments or other small apartment buildings ( 6.55%), and a few large apartment complexes or high rise apartments ( 5.64%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lockport. Owner-occupied housing accounts for 81.88% of Lockport's homes, and 63.99% have either three or four bedrooms, which is average sized relative to America.
Lockport homes and real estate are some of the newest in America. 42.88% of Lockport's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lockport real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 29.92%), and between 1940-1969 ( 14.87%). There's also some housing in Lockport built before 1939 ( 12.33%).
Lockport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lockport during the period has been just 5.58%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Lockport's appreciation rate, at 6.01%, has been at or slightly above the national average. In the latest quarter, Lockport's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Lockport's latest annual appreciation rate is lower 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 city. Individual neighborhoods within Lockport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lockport - 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 Lockport real estate investment or home purchase decisions.
$364,234
for Illinois
for nation
9,507
$2,648 / per month