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 13,971, 5,251 total housing units (homes and apartments), and a median house value of $292,689, 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%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
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%).
Real estate appreciation rates in Chicago Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.32% during the period.
NeighborhoodScout's data show that during the latest twelve months, Chicago Ridge's appreciation rate, at 6.27%, has been at or slightly above the national average. In the latest quarter, Chicago Ridge's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Chicago Ridge's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.
$292,689
for Illinois
for nation
5,251
$1,994 / per month