Living in Phoenix, IL
Phoenix, Illinois is a small village located in the south suburbs of Chicago. Known for its tight-knit community and family-friendly atmosphere, Phoenix offers a blend of suburban living while being conveniently close to the city. The area features affordable housing options, local parks, and schools, making it an attractive choice for those looking to settle in a serene yet accessible location.
Current Market Conditions in Phoenix, IL
Currently, the real estate market in Phoenix, Illinois is showing signs of steady growth, with a slight increase in property values over the past year. This stability makes it an appealing market for first-time homebuyers and investors looking for affordable properties in a suburban setting.
With its proximity to Chicago, the demand for housing in Phoenix has begun to rise gradually, making homes here more attractive due to their lower prices compared to nearby neighborhoods. As more people discover the village's charm and community-focused lifestyle, the trend of increasing property values is expected to continue.
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 $118,311.00. 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 $133,454.00, with the most expensive house
in Phoenix, IL, topping out
at $1,110,487.00 and the cheapest home
in Phoenix, IL,
clocking in at $11,409.00. 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.
Learn more on Foreclosure homes
