Median price for residential apartments in as of Jun, 2021.
Remember to negotiate your price according to median sale prices. Also, take into account that the price depends on the size/amenities of the apartment.
730 Elgin, IL, USA apartments for sale
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View Photos1 Story, Ranch
85 South Jackson Street, Elgin, IL 60123, USA
2 Bed
1 Bath
1,000 Sq Ft
Elgin
According to statistics, the population in Elgin, IL amounts to 112,628, which shows decline 1% compared to the previous year. The median age of the city’s residents is 34. The average household income is $63,655, shifting growth 5% from the past year, and the average property value in Elgin, IL growth 3% to $171,200 throughout the year.
| Population | 112,628 |
| Median Age | 34.1 |
| Poverty Rate | 13% |
| Household Income | $63,655 |
| Number Of Employees | 55,424 |
| Median Property Value | $171,200 |
Household Income
The average household income in Elgin, IL grew from $60,375 to $63,655 in the past year. This data is an estimate based upon 35,919 households in Elgin, IL . The chart below presents how household income is distributed in Elgin, IL in comparison to the revenue allocation amid households nationally.
- USA
- Elgin, IL
Property Value
According to data from last year, the average property value in Elgin, IL shifted from $166,500 to $171,200 throughout the year. The subsequent graph indicates the share of properties in the given price range in Elgin, IL in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Elgin, IL properties falls in the '$150,000 to $174,999' range, which is lower than the most significant median property across the country.
- USA
- Elgin, IL
Rent vs. Own
- Rent67%
- Own33%
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Elgin, IL compared to median property taxes around the country. The prevalent amount of property taxes in Elgin, IL equals $3000, which is less than the national average.
- USA
- Elgin, IL
Housing Trends
Elgin, IL, USA Housing Trends
Average sale in Elgin: $275,298 (-23.4%)
| Apartment Size | Jun | vs Last Month |
|---|---|---|
| 1 bed apartments | $147,000 | N/A |
| 2 bed apartments | $214,300 | +4.9% |
| 3 bed apartments | $207,575 | -48.1% |
| 4+ bed apartments | $335,817 | -28.9% |
During Jun 2021, the average price for an apartment in/near Elgin, IL decreased by 23.4% to $275,298.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $147,000 with no changes this month. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $214,300. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $207,575. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $335,817 for a big-family home.
| Listing Type | Jun | vs Last Month |
|---|---|---|
| Lofts for sale | $329,745 | -23.1% |
| Townhouses for sale | $232,225 | +16.1% |
| Houses for sale | $287,516 | -34.5% |
| Condos for sale | $147,000 | N/A |
| Apartments for sale | $69,900 | N/A |
While assessing the property pricing Elgin, IL, you can note that it remains flat with a price tag of $69,900. According to statistics, average house is still $287,516 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $147,000. The price statistics of lofts have not significantly changed, it now still goes for $329,745. Value of the townhouses didn’t change, the price still starts at $232,225.
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