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 43,856 people, 17,180 houses or apartments, and a median cost of homes 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'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.
$410,695
for Illinois
for nation
17,180
$2,758 / per month