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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lombard, IL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lombard, IL Housing Market Trends

With a population of 43,856, 17,180 total housing units (homes and apartments), and a median house value of $410,695, Lombard real estate is some of the most expensive in Illinois, although Lombard home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lombard, accounting for 54.87% of the village's housing units. Other types of housing that are prevalent in Lombard include large apartment complexes or high rise apartments ( 35.34%), row houses and other attached homes ( 7.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lombard. Owner-occupied housing accounts for 68.81% of Lombard's homes, and 50.75% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lombard's housing was primarily built during this period, from the '40s through the '60s. A full 38.52% of the village's housing hails from this era. Other housing ages represented in Lombard include homes built between 1970-1999 ( 37.24%) and housing constructed between 2000 and later ( 15.40%). There's also some housing in Lombard built before 1939 ( 8.83%).

Lombard Home Appreciation Rates

Lombard's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lombard during the period has been just 4.98%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lombard's appreciation rate, at 7.89%, has been at or slightly above the national average. In the latest quarter, Lombard's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.

Relative to Illinois, our data show that Lombard's latest annual appreciation rate is lower than 50% 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 Lombard differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lombard - 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 Lombard real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$410,695

Lombard, IL Home Prices
> $1,318,000
$989,001 - $1,318,000
$659,001 - $989,000
$527,001 - $659,000
$396,001 - $527,000
$264,001 - $396,000
$132,001 - $264,000
$66,001 - $132,000
$0 - $66,000
0.3%
0.3%
1.3%
1.3%
7.7%
7.7%
12.7%
12.7%
31.6%
31.6%
30.9%
30.9%
11.9%
11.9%
1.9%
1.9%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

17,180

Lombard Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,758 / per month

Homeownership Rate

Owners
Renters
68.8%
68.8%
31.2%
31.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.7%
5.7%
94.3%
94.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.4%
15.4%
37.2%
37.2%
38.5%
38.5%
8.8%
8.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.9%
54.9%
7.0%
7.0%
2.7%
2.7%
35.3%
35.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
15.6%
15.6%
28.0%
28.0%
32.8%
32.8%
17.9%
17.9%
4.0%
4.0%
0% 100.0%
% of Homes