Last week, using data from our annual real-estate charts—the latest installment is featured in the October 2011 issue of Chicago, on newsstands now—I revealed which city neighborhoods have seen home values drop the most and the least since the peak of the real-estate market. This week, let’s look at the suburbs.
Today’s chart shows the year in which house prices peaked in each of 211 suburbs, followed by the percentage drop from that year’s average home price to the 2011 average price. As in the city, the suburbs where home values dropped the most were all moderate-income communities—although they represent a greater geographic spread than the city neighborhoods. In the city, four of the five neighborhoods with the biggest drops were on the South Side. (Riverdale tops today’s list and last week’s list, but they are actually different communities: the village of Riverdale is just across the city limits from the Far South Side Chicago neighborhood called Riverdale.)
The suburbs that have held their value best since the peak years are different from their counterparts on the city list. In the city, the neighborhoods with the smallest percentage drop were mostly very affluent places; in the suburbs, they were mostly upper middle-class. The only exception is wealthy Kenilworth, which had the fourth-smallest drop in value.
Here is a list of the six suburbs that have fallen furthest since the peak, followed by a list of the nine suburbs that have fallen least. Below them is the full list of suburbs. (As with last week’s charts, today’s numbers are based only on the sale of single-family houses, not the sales of townhouses and condos.)
|
BIGGEST DROPS FROM PEAK |
|
|
TOWN |
% DROP |
|
Riverdale |
73.07 |
|
Harvey |
72.86 |
|
Dixmoor |
72.23 |
|
North Chicago |
69.64 |
|
Maywood |
64.65 |
|
Cicero |
61.19 |
|
SMALLEST DROPS FROM PEAK |
|
|
TOWN |
% DROP |
|
Indian Head Park |
11.54 |
|
Naperville |
14.68 |
|
Frankfort |
14.69 |
|
Kenilworth |
15.13 |
|
Gilberts |
16.38 |
|
Geneva |
16.59 |
|
Clarendon Hills |
16.77 |
|
Lisle |
17.00 |
|
Orland Park |
17.35 |
The chart below documents the change in average house price in each of 211 Chicago suburbs; it shows the year the average house price peaked followed by the percentage drop from peak-year average house price to 2011 average house price.
|
HOUSING PRICE DROPS IN |
||
|
TOWN |
YEAR HOUSE |
% DROP |
|
Addison |
2007 |
41.23 |
|
Algonquin |
2006 |
30.21 |
|
Alsip |
2006 |
44.46 |
|
Antioch |
2006 |
33.56 |
|
Arlington Heights |
2007 |
24.88 |
|
Aurora |
2006 |
40.83 |
|
Barrington |
N/A |
N/A |
|
Barrington Hills |
N/A |
N/A |
|
Bartlett |
2007 |
25.24 |
|
Batavia |
2007 |
21.97 |
|
Beach Park |
2006 |
39.00 |
|
Bellwood |
2007 |
60.57 |
|
Bensenville |
2007 |
46.97 |
|
Berkeley |
2007 |
56.59 |
|
Berwyn |
2007 |
48.67 |
|
Bloomingdale |
2007 |
33.25 |
|
Blue Island |
2007 |
58.33 |
|
Bolingbrook |
2007 |
33.27 |
|
Bridgeview |
2006 |
38.75 |
|
Broadview |
2007 |
52.34 |
|
Brookfield |
2007 |
35.14 |
|
Buffalo Grove |
2006 |
26.57 |
|
Burbank |
2007 |
45.15 |
|
Burnham |
2006 |
68.55 |
|
Burr Ridge |
2008 |
30.76 |
|
Calumet City |
2007 |
59.12 |
|
Calumet Park |
2008 |
65.39 |
|
Carol Stream |
2007 |
28.67 |
|
Carpentersville |
2007 |
48.52 |
|
Cary |
2007 |
28.34 |
|
Chicago Heights |
2007 |
50.07 |
|
Chicago Ridge |
2007 |
43.53 |
|
Cicero |
2007 |
61.19 |
|
Clarendon Hills |
2007 |
16.77 |
|
Country Club Hills |
2007 |
45.37 |
|
Countryside |
2007 |
42.91 |
|
Crestwood |
2007 |
30.84 |
|
Crete |
2007 |
40.86 |
|
Crystal Lake |
2006 |
26.85 |
|
Darien |
2006 |
25.45 |
|
Deerfield |
2008 |
34.64 |
|
Deer Park |
N/A |
N/A |
|
Des Plaines |
2006 |
36.15 |
|
Dixmoor |
2007 |
72.23 |
|
Dolton |
2007 |
64.02 |
|
Downers Grove |
2007 |
22.11 |
|
East Dundee |
2007 |
57.11 |
|
Elburn |
N/A |
N/A |
|
Elgin |
2007 |
39.78 |
|
Elk Grove Village |
2007 |
29.97 |
|
Elmhurst |
2007 |
25.93 |
|
Elmwood Park |
2007 |
47.22 |
|
Evanston |
2008 |
26.83 |
|
Evergreen Park |
2007 |
43.40 |
|
Flossmoor |
2007 |
30.00 |
|
Forest Park |
2008 |
39.81 |
|
Fox Lake |
2007 |
31.34 |
|
Fox River Grove |
2007 |
35.53 |
|
Frankfort |
2007 |
14.69 |
|
Franklin Park |
2006 |
49.94 |
|
Geneva |
2007 |
16.59 |
|
Gilberts |
2007 |
16.38 |
|
Glencoe |
2006 |
26.14 |
|
Glendale Heights |
2007 |
46.68 |
|
Glen Ellyn |
2007 |
17.99 |
|
Glenview |
2008 |
25.36 |
|
Glenwood |
2006 |
38.39 |
|
Grayslake |
2006 |
30.38 |
|
Gurnee |
2007 |
27.77 |
|
Hampshire |
2006 |
36.57 |
|
Hanover Park |
2006 |
45.93 |
|
Harvey |
2006 |
72.86 |
|
Harwood Heights |
2006 |
40.75 |
|
Hawthorn Woods |
2006 |
31.85 |
|
Hazel Crest |
2007 |
59.05 |
|
Hebron |
2006 |
33.95 |
|
Hickory Hills |
2006 |
39.66 |
|
Highland Park |
2007 |
41.58 |
|
Highwood |
2007 |
24.83 |
|
Hillside |
2007 |
48.88 |
|
Hinsdale |
2008 |
17.98 |
|
Hoffman Estates |
2008 |
30.00 |
|
Homewood |
2007 |
37.18 |
|
Huntley |
2007 |
25.40 |
|
Indian Head Park |
2006 |
11.54 |
|
Inverness |
2006 |
19.58 |
|
Itasca |
2007 |
38.47 |
|
Joliet |
2007 |
37.44 |
|
Justice |
2007 |
39.86 |
|
Kenilworth |
2008 |
15.13 |
|
Kildeer |
2008 |
25.06 |
|
La Grange |
2006 |
17.59 |
|
La Grange Park |
2007 |
20.90 |
|
Lake Barrington |
N/A |
N/A |
|
Lake Bluff |
2008 |
28.27 |
|
Lake Forest |
2007 |
22.75 |
|
Lake in the Hills |
2006 |
32.14 |
|
Lake Villa |
2006 |
26.11 |
|
Lake Zurich |
2007 |
25.06 |
|
Lansing |
2007 |
47.06 |
|
Lemont |
2007 |
23.04 |
|
Libertyville |
2007 |
18.50 |
|
Lincolnshire |
2007 |
29.48 |
|
Lincolnwood |
2007 |
40.74 |
|
Lindenhurst |
2006 |
32.44 |
|
Lisle |
2006 |
17.00 |
|
Lombard |
2006 |
29.33 |
|
Long Grove |
2006 |
26.63 |
|
Lynwood |
2008 |
46.93 |
|
Lyons |
2007 |
48.65 |
|
Markham |
2006 |
63.66 |
|
Matteson |
2007 |
35.90 |
|
Maywood |
2007 |
64.65 |
|
McHenry |
2007 |
32.07 |
|
Melrose Park |
2007 |
53.33 |
|
Merrionette Park |
2007 |
34.71 |
|
Midlothian |
2007 |
44.06 |
|
Mokena |
2007 |
17.64 |
|
Morton Grove |
2006 |
36.62 |
|
Mount Prospect |
2006 |
30.54 |
|
Mundelein |
2007 |
35.40 |
|
Naperville |
2007 |
14.68 |
|
New Lenox |
2008 |
21.13 |
|
Niles |
2007 |
40.15 |
|
Norridge |
2006 |
41.52 |
|
North Aurora |
2008 |
17.36 |
|
North Barrington |
N/A |
N/A |
|
Northbrook |
2007 |
34.15 |
|
North Chicago |
2007 |
69.64 |
|
Northfield |
2008 |
22.84 |
|
Northlake |
2007 |
58.00 |
|
North Riverside |
2007 |
34.16 |
|
Oak Brook |
2006 |
27.67 |
|
Oakbrook Terrace |
N/A |
N/A |
|
Oak Forest |
2007 |
31.35 |
|
Oak Lawn |
2007 |
35.75 |
|
Oak Park |
2007 |
24.58 |
|
Olympia Fields |
2007 |
37.10 |
|
Orland Hills |
2006 |
33.40 |
|
Orland Park |
2007 |
17.35 |
|
Oswego |
2007 |
22.76 |
|
Palatine |
2008 |
26.36 |
|
Palos Heights |
2006 |
32.35 |
|
Palos Hills |
2007 |
37.11 |
|
Palos Park |
2007 |
45.32 |
|
Park Forest |
2007 |
58.78 |
|
Park Ridge |
2007 |
33.33 |
|
Phoenix |
2007 |
55.79 |
|
Plainfield |
2007 |
26.36 |
|
Posen |
2007 |
56.59 |
|
Prospect Heights |
2007 |
46.65 |
|
Richmond |
2006 |
44.83 |
|
Richton Park |
2007 |
46.36 |
|
Riverdale |
2007 |
73.07 |
|
River Forest |
2008 |
29.02 |
|
River Grove |
2006 |
47.08 |
|
Riverside |
2007 |
30.13 |
|
Riverwoods |
2008 |
36.00 |
|
Robbins |
2008 |
41.02 |
|
Rolling Meadows |
2007 |
29.78 |
|
Romeoville |
2006 |
36.24 |
|
Roselle |
2006 |
29.04 |
|
Round Lake |
2008 |
31.83 |
|
St. Charles |
2008 |
22.21 |
|
Sauk Village |
2007 |
65.21 |
|
Schaumburg |
2007 |
26.11 |
|
Schiller Park |
2007 |
56.27 |
|
Skokie |
2006 |
40.28 |
|
Sleepy Hollow |
2006 |
27.90 |
|
South Barrington |
N/A |
N/A |
|
South Chicago Heights |
2006 |
53.53 |
|
South Elgin |
2007 |
28.67 |
|
South Holland |
2007 |
45.28 |
|
Steger |
2007 |
51.30 |
|
Stickney |
2007 |
48.59 |
|
Streamwood |
2006 |
43.76 |
|
Sugar Grove |
2007 |
32.97 |
|
Summit |
2007 |
64.67 |
|
Thornton |
2008 |
51.58 |
|
Tinley Park |
2007 |
21.02 |
|
Tower Lakes |
N/A |
N/A |
|
University Park |
2007 |
50.01 |
|
Vernon Hills |
2008 |
23.79 |
|
Villa Park |
2007 |
38.48 |
|
Wadsworth |
2008 |
28.99 |
|
Warrenville |
2006 |
27.30 |
|
Wauconda |
2006 |
36.64 |
|
Waukegan |
2007 |
54.15 |
|
Wayne |
2007 |
30.75 |
|
Westchester |
2007 |
39.68 |
|
West Chicago |
2007 |
46.72 |
|
West Dundee |
2006 |
22.78 |
|
Western Springs |
2008 |
19.31 |
|
Westmont |
2007 |
29.00 |
|
Wheaton |
2007 |
17.39 |
|
Wheeling |
2006 |
39.63 |
|
Willowbrook |
2006 |
20.35 |
|
Willow Springs |
2006 |
44.57 |
|
Wilmette |
2007 |
19.67 |
|
Winfield |
2008 |
20.41 |
|
Winnetka |
2006 |
18.98 |
|
Winthrop Harbor |
2006 |
31.04 |
|
Wood Dale |
2006 |
39.35 |
|
Woodridge |
2007 |
20.55 |
|
Woodstock, Greenwood |
2006 |
34.77 |
|
Worth |
2008 |
41.13 |
|
Zion |
2007 |
46.98 |