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 75,544, 30,900 total housing units (homes and apartments), and a median house value of $554,261, Evanston house prices are not only among the most expensive in Illinois, Evanston real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Evanston, accounting for 49.02% of the city's housing units. Other types of housing that are prevalent in Evanston include single-family detached homes ( 31.81%), duplexes, homes converted to apartments or other small apartment buildings ( 13.89%), and a few row houses and other attached homes ( 5.02%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Evanston primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Evanston has a mixture of owner-occupied and renter-occupied housing.
The housing in Evanston was primarily built before 1939 ( 42.40%), making the housing stock in Evanston some of the oldest overall in America, although there is a range of ages of homes in Evanston. The next most important housing age is between 1940-1969 ( 28.93%), followed by between 2000 and later ( 14.60%). There's also some housing in Evanston built between 1970-1999 ( 14.07%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Evanston, where house values have increased just 48.89%, which is annualized rate of 4.06%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Evanston's appreciation rate, at 6.95%, has been at or slightly above the national average. In the latest quarter, Evanston's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.
Relative to Illinois, our data show that Evanston'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 Evanston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Evanston - 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 Evanston real estate investment or home purchase decisions.
$554,261
for Illinois
for nation
30,900
$2,710 / per month