There are currently 6,755 real estate properties in Homewood, IL, with a median automated valuation model (AVM) price of $203,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Homewood, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Homewood, IL, is $208,253.00, with the most expensive house in Homewood, IL, topping out at $950,000.00 and the cheapest home in Homewood, IL, clocking in at $37,300.00. In other words, there’s something for every potential homebuyer or savvy investor in Homewood, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Homewood, IL, is on a rollercoaster ride. The average rent price in Homewood, IL, is $1,705.00. Indeed, when looking to rent in Homewood, IL, you can expect to pay as little as $870.00 or as much as $3,020.00, with the average rent median estimated to be $1,690.00. The good news is that finding an affordable and desirable property to rent in Homewood, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Homewood, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Homewood, IL and much more. Save thousands at closing with home foreclosure listings in Homewood, IL — up to 75% off market value!
Homewood is located in Cook, Illinois, with an estimated municipal population of 18,703 residents. All of the best foreclosed homes for sale in Homewood are located in the following zip code areas on Foreclosure.com: 60430. The estimated population per square kilometer (.62 miles) in Homewood is 1,384.
So, about how much do homes cost in Homewood? The most recent median value of resident-owned homes in Homewood is 162,225. An estimated 76.2 percent of households in Homewood own their homes, with an average family size of 3.19. The median household income in Homewood is 74,450, with32.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Homewood, the median commute time of resident workers (in minutes) is 31.4. And last, but certainly not least, are you looking for homes to rent in Homewood? If so, the average rent price paid by renters in Homewood is 1,156, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Homewood, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Homewood is 40.5, split between 47.4 percent male versus 52.6 female. The percentage of residents who report being married in Homewood is 48.1, with an average family size of 3.19.
The percentage of residents who report their race in Homewood is as follows:
|Black / African American||44.5%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Homewood? Or maybe you are searching for 55+ active adult communities in and/or near Homewood?
The percentage of residents who report their age in Homewood is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Homewood with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Homewood.
How do you know that living in -- or moving to -- Homewood is right where you need to be? Perhaps you grew up in Homewood or already live nearby; therefore, the decision to buy a home in Homewood is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Homewood for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Homewood:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Homewood.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Homewood can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Homewood, meanwhile, can field multiple offers from more qualified buyers.