Quantcast

Dupage Policy Journal

Sunday, November 24, 2024

Analysis: Aurora home prices up 17 percent over past decade; Property tax rates fell to 4.23 percent

Throughout Aurora, home prices took a rose between 2011 and 2015, a BlockShopper analysis showed.

The area's median sale price was $129,485 in 2011, but climbed to $155,278 in 2015 -- a difference of 17 percent. At the same time, the median Effective Tax Rate (ETR) fell from 5.21 percent in 2011 to 4.23 percent in 2015.

A home's ETR is its property tax bill divided by its marked value. A $200,000 home with a $3,000 property tax bill would have an ETR of 1.5 percent.

The median ETR in Illinois is 2.3 percent, according to a 2007 WalletHub analysis of U.S. Census data. In Indiana, it's 0.87 percent.

The average $200,000 home in Illinois has a property tax bill of $4,600, versus $1,740 in Indiana.

In Aurora, a $200,000 home would have a bill of $8,460 based on the area's median ETR. Parts of Aurora have an ETR between 2.71 and 6.89 percent.

The projected median sale price in the area for 2019 is $128,880, at which time a homeowner will have paid an estimated $66,051 in property taxes on the home since 2011.

The Blockshopper analysis uses real home values, adjusting historical sales prices for inflation. The U.S. inflation rate from 2007 to 2015 was 14.3 percent, meaning a home had to appreciate by more than that to actually increase in value.

Below is a table comparing sale prices and property taxes within Aurora. To analyze the data more precisely, BlockShopper broke up suburbs into neighborhoods.

Neighborhood
2011 Sales
2011 Median Price
2011 Median Property Tax
2015 Sales
2015 Median Price
2015 Median Property Tax
East Aurora
159
$109,035
$5,417 (4.97% ETR)
202
$125,420, up 13%
$5,386 (4.29% ETR)
Country Lakes
7
$454,684
$15,372 (3.38% ETR)
5
$496,975, up 9%
$15,223 (3.06% ETR)
Eola
165
$109,748
$4,303 (3.92% ETR)
199
$128,583, up 15%
$5,344 (4.16% ETR)
Greater Stonebridge
156
$226,415
$10,559 (4.66% ETR)
209
$250,896, up 10%
$10,281 (4.10% ETR)
Fox Valley Villages
91
$150,610
$6,395 (4.25% ETR)
145
$128,047, down 15%
$5,862 (4.58% ETR)
Ward 9 Aurora
518
$87,964
$5,329 (6.06% ETR)
706
$124,650, up 29%
$5,287 (4.24% ETR)
Frontenac
41
$149,476
$7,217 (4.83% ETR)
80
$146,665, down 2%
$6,783 (4.62% ETR)
Greater White Eagle
67
$192,953
$11,169 (5.79% ETR)
93
$261,177, up 26%
$10,791 (4.13% ETR)
South Aurora
269
$43,080
$3,478 (8.07% ETR)
189
$53,018, up 19%
$2,607 (4.92% ETR)
North Aurora West
117
$124,365
$7,540 (6.06% ETR)
130
$188,764, up 34%
$9,115 (4.83% ETR)
North Aurora Central
88
$83,910
$6,151 (7.33% ETR)
101
$124,918, up 33%
$5,372 (4.30% ETR)
North Aurora East
111
$93,880
$6,398 (6.82% ETR)
156
$144,399, up 35%
$6,694 (4.64% ETR)
West Montgomery
16
$63,986
$3,977 (6.22% ETR)
10
$115,654, up 45%
$4,834 (4.18% ETR)
Ward 2 Aurora
194
$34,237
$3,605 (10.53% ETR)
174
$45,386, up 25%
$3,127 (6.89% ETR)
Batavia Southeast
4
$121,022
$4,787 (3.96% ETR)
2
$76,220, down 37%
$3,939 (5.17% ETR)
Marywood
188
$52,254
$4,182 (8.00% ETR)
192
$96,891, up 46%
$4,467 (4.61% ETR)
Ward 1 Aurora
5
$56,060
$3,496 (6.24% ETR)
4
$88,843, up 37%
$3,815 (4.29% ETR)
West Aurora
334
$97,109
$5,366 (5.53% ETR)
417
$120,659, up 20%
$5,536 (4.59% ETR)
Scraper-Moecherville
446
$51,628
$3,413 (6.61% ETR)
378
$69,385, up 26%
$3,229 (4.65% ETR)
Northwest Aurora
225
$53,792
$4,021 (7.48% ETR)
255
$80,499, up 33%
$3,884 (4.82% ETR)
Aurora West Central
169
$45,716
$3,731 (8.16% ETR)
153
$60,589, up 25%
$2,983 (4.92% ETR)
Aurora East Central
141
$41,647
$3,650 (8.76% ETR)
124
$49,593, up 16%
$2,777 (5.60% ETR)
Downtown Aurora
24
$41,929
$3,523 (8.40% ETR)
16
$67,320, up 38%
$3,441 (5.11% ETR)
Southwest Aurora
208
$62,050
$3,639 (5.86% ETR)
227
$88,682, up 30%
$3,840 (4.33% ETR)
South Park/Southeast Aurora
253
$39,842
$3,069 (7.70% ETR)
210
$60,008, up 34%
$2,523 (4.20% ETR)
East Montgomery
2
$10,900
$2,644 (24.26% ETR)
2
$64,323, up 83%
$2,508 (3.90% ETR)

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS