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 10,266 people, 3,803 houses or apartments, and a median cost of homes of $158,766, house prices in Riverdale are solidly below the national average.
Single-family detached homes are the single most common housing type in Riverdale, accounting for 52.77% of the village's housing units. Other types of housing that are prevalent in Riverdale include large apartment complexes or high rise apartments ( 26.86%), duplexes, homes converted to apartments or other small apartment buildings ( 11.00%), and a few row houses and other attached homes ( 7.80%).
People in Riverdale primarily live in small (one, two or no bedroom) single-family detached homes. Riverdale has a mixture of owner-occupied and renter-occupied housing.
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. Riverdale's housing was primarily built during this period, from the '40s through the '60s. A full 62.60% of the village's housing hails from this era. Other housing ages represented in Riverdale include homes built between 1970-1999 ( 20.56%) and housing constructed before 1939 ( 14.57%). There's also some housing in Riverdale built between 2000 and later ( 2.27%).
Vacant housing appears to be an issue in Riverdale. Fully 26.98% of the housing stock is classified as vacant. Left unchecked, vacant Riverdale homes and apartments can be a drag on the real estate market, holding Riverdale 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 Riverdale have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.03%, which ranks in the top 50% nationwide. This equates to an annual average Riverdale house appreciation rate of 6.80%.
Appreciation rates are so strong in Riverdale that despite a nationwide downturn in the housing market, Riverdale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riverdale appreciation rates continue to be some of the highest in America, at 8.51%, which is higher than appreciation rates in 75.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riverdale. Riverdale appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Riverdale's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.
$158,766
for Illinois
for nation
3,803
$2,142 / per month