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 13,815 people, 5,747 houses or apartments, and a median cost of homes of $253,426, Midlothian real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Midlothian, accounting for 76.61% of the village's housing units. Other types of housing that are prevalent in Midlothian include large apartment complexes or high rise apartments ( 19.17%), row houses and other attached homes ( 2.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.03%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Midlothian. Owner-occupied housing accounts for 76.50% of Midlothian's homes, and 64.95% 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. Midlothian's housing was primarily built during this period, from the '40s through the '60s. A full 51.70% of the village's housing hails from this era. Other housing ages represented in Midlothian include homes built between 1970-1999 ( 35.13%) and housing constructed before 1939 ( 10.31%). There's also some housing in Midlothian built between 2000 and later ( 2.85%).
Appreciation rates for homes in Midlothian have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.58%, which ranks in the top 50% nationwide. This equates to an annual average Midlothian house appreciation rate of 6.61%.
NeighborhoodScout's data show that during the latest twelve months, Midlothian's appreciation rate, at 5.58%, has been at or slightly above the national average. In the latest quarter, Midlothian's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Midlothian's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.
$253,426
for Illinois
for nation
5,747
$2,087 / per month