menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Wilmette, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wilmette, IL Housing Market Trends

With 27,264 people, 10,398 houses or apartments, and a median cost of homes of $1,012,121, Wilmette house prices are not only among the most expensive in Illinois, Wilmette real estate also is some of the most expensive in all of America.

Wilmette is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Wilmette than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wilmette. Owner-occupied housing accounts for 86.94% of Wilmette's homes, and 62.24% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wilmette's housing was primarily built during this period, from the '40s through the '60s. A full 47.01% of the village's housing hails from this era. Other housing ages represented in Wilmette include homes built before 1939 ( 29.74%) and housing constructed between 1970-1999 ( 14.25%). There's also some housing in Wilmette built between 2000 and later ( 9.00%).

Wilmette Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Wilmette, where house values have increased just 38.62%, which is annualized rate of 3.32%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Wilmette's appreciation rate, at 8.23%, has been at or slightly above the national average. In the latest quarter, Wilmette's appreciation rate has been 2.21%, which annualizes to a rate of 9.13%.

Relative to Illinois, our data show that Wilmette's latest annual appreciation rate is lower than 70% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Wilmette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilmette - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wilmette real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,012,121

Wilmette, IL Home Prices
> $1,224,000
$918,001 - $1,224,000
$612,001 - $918,000
$490,001 - $612,000
$367,001 - $490,000
$245,001 - $367,000
$122,001 - $245,000
$61,001 - $122,000
$0 - $61,000
32.3%
32.3%
20.2%
20.2%
24.1%
24.1%
8.7%
8.7%
8.8%
8.8%
3.0%
3.0%
1.6%
1.6%
0.6%
0.6%
0.7%
0.7%
0% 100.0%
% of Homes
Very High

for Illinois

Very High

for nation

Number of Homes And Apartments:

10,398

Wilmette Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,393 / per month

Homeownership Rate

Owners
Renters
86.9%
86.9%
13.1%
13.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.6%
3.6%
96.4%
96.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.0%
9.0%
14.2%
14.2%
47.0%
47.0%
29.7%
29.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
78.4%
78.4%
4.6%
4.6%
1.3%
1.3%
15.6%
15.6%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
5.6%
5.6%
9.7%
9.7%
33.1%
33.1%
29.2%
29.2%
21.1%
21.1%
0% 100.0%
% of Homes