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 34,709 people, 14,412 houses or apartments, and a median cost of homes of $172,010, house prices in Calumet City are solidly below the national average.
Single-family detached homes are the single most common housing type in Calumet City, accounting for 55.85% of the city's housing units. Other types of housing that are prevalent in Calumet City include large apartment complexes or high rise apartments ( 21.20%), duplexes, homes converted to apartments or other small apartment buildings ( 15.46%), and a few row houses and other attached homes ( 3.81%).
The most prevalent building size and type in Calumet City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.07% owning and 40.93% renting.
There is a lot of housing in Calumet City 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 Calumet City built between 1940-1969 ( 40.10%). A lesser amount of the housing stock also hails from before 1939 ( 13.49%). There's also some housing in Calumet City built between 2000 and later ( 4.97%).
Vacant housing appears to be an issue in Calumet City. Fully 13.62% of the housing stock is classified as vacant. Left unchecked, vacant Calumet City homes and apartments can be a drag on the real estate market, holding Calumet City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Calumet City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.54%, which ranks in the top 40% nationwide. This equates to an annual average Calumet City house appreciation rate of 6.99%.
NeighborhoodScout's data show that during the latest twelve months, Calumet City's appreciation rate, at 6.84%, has been at or slightly above the national average. In the latest quarter, Calumet City's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Calumet City'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 city. Individual neighborhoods within Calumet City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Calumet City - 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 Calumet City real estate investment or home purchase decisions.
$172,010
for Illinois
for nation
14,412
$2,001 / per month