Living in Phoenix, IL
Phoenix, IL is an inviting suburb of Chicago that offers a peaceful lifestyle surrounded by nature and solid educational opportunities. With local parks for outdoor enjoyment and convenient public transportation options, it's an ideal location for families. The community spirit and well-maintained amenities enhance the quality of life for its residents.
Current Market Conditions in Phoenix, IL
The real estate market in Phoenix is currently showing signs of stability, with a steady increase in home values over the past few years. The demand for housing remains high, driven by the area’s appeal to families and individuals seeking a peaceful suburban lifestyle. New developments and renovations of existing properties are also contributing to a vibrant market, attracting more buyers.
Investment opportunities in Phoenix appear promising, especially for single-family homes that cater to families. Prices are generally lower than those in nearby urban areas, providing a favorable environment for investors looking to maximize rental yields or find homes for resale.
Home Value Estimator For Phoenix, IL
There are currently 858 real estate properties
in Phoenix, IL,
with a median automated valuation model (AVM) price
of $123,854.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Phoenix, 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 Phoenix, IL,
is $134,418.00, with the most expensive house
in Phoenix, IL, topping out
at $962,400.00 and the cheapest home
in Phoenix, IL,
clocking in at $10,932.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Phoenix, IL!
Rent Prices
In Phoenix, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Phoenix, IL, is on
a rollercoaster ride. The
average rent price in Phoenix, IL,
is $1,201.00. Indeed, when looking to rent in
Phoenix, IL, you can expect to pay as little
as $750.00 or as much
as $2,310.00,
with the average rent median estimated to
be $1,120.00. The good news is that finding
an affordable and desirable property to rent in Phoenix, 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.
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