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Thursday, December 5, 2019

Analysis: Naperville home prices up 20 percent over past decade; Property tax rates fell to 3.63 percent

Real Estate

By Local Labs News Service | Sep 22, 2017

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

The area's median sale price was $176,901 in 2011, but climbed to $219,860 in 2015 -- a difference of 20 percent. At the same time, the median Effective Tax Rate (ETR) fell from 4.59 percent in 2011 to 3.63 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 Naperville, a $200,000 home would have a bill of $7,260 based on the area's median ETR. Parts of Naperville have an ETR between 2.20 and 4.37 percent.

The projected median sale price in the area for 2019 is $175,888, at which time a homeowner will have paid an estimated $79,231 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 Naperville. 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
Westridge
31
$124,997
$6,378 (5.10% ETR)
26
$179,081, up 30%
$6,003 (3.35% ETR)
Warrenville East
4
$173,446
$13,728 (7.91% ETR)
4
$312,605, up 45%
$13,668 (4.37% ETR)
Naperville Northeast
132
$147,659
$7,511 (5.09% ETR)
158
$228,392, up 35%
$7,699 (3.37% ETR)
Greater Cress Creek
124
$187,361
$8,250 (4.40% ETR)
179
$223,665, up 16%
$7,697 (3.44% ETR)
Country Lakes
146
$118,593
$6,162 (5.20% ETR)
249
$150,911, up 21%
$5,856 (3.88% ETR)
Heritage Woods
206
$204,130
$8,964 (4.39% ETR)
273
$279,450, up 27%
$8,505 (3.04% ETR)
Naperville Country Club
121
$217,453
$7,984 (3.67% ETR)
186
$203,798, down 6%
$8,090 (3.97% ETR)
Greater Huntington Estates
305
$229,424
$11,196 (4.88% ETR)
360
$316,725, up 28%
$11,821 (3.73% ETR)
Hobson West
293
$167,797
$7,433 (4.43% ETR)
426
$196,137, up 14%
$7,649 (3.90% ETR)
Brighton Ridge
1
$144,425
$3,212 (2.22% ETR)
2
$176,130, up 18%
$5,921 (3.36% ETR)
Lisle South/Seven Bridges
5
$257,894
$12,295 (4.77% ETR)
5
$566,809, up 55%
$12,480 (2.20% ETR)
Naperville Southeast
219
$131,954
$6,495 (4.92% ETR)
1
$439,810, up 70%
$10,261 (2.33% ETR)
South Naperville
984
$273,809
$10,607 (3.87% ETR)
861
$312,923, up 12%
$10,129 (3.24% ETR)
Greater White Eagle
49
$282,298
$17,086 (6.05% ETR)
32
$464,997, up 39%
$15,692 (3.37% ETR)

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Organizations in this Story

Naperville Country ClubCook County RecorderNaperville

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