Home Values

Silver Lake Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$152,300

  • 7.8% 1-year change
  • 1.7% 1-year forecast

The median home value in Silver Lake is $152,300. Silver Lake home values have gone up 7.8% over the past year and Zillow predicts they will rise 1.7% within the next year. The median list price per square foot in Silver Lake is $178, which is higher than the Chicago Metro average of $135. The median price of homes currently listed in Silver Lake is $128,500 while the median price of homes that sold is $214,500.

Foreclosures will be a factor impacting home values in the next several years. In Silver Lake 10.0 homes are foreclosed (per 10,000). This is greater than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Silver Lake is 4.8%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Silver Lake homeowners underwater on their mortgage is 15.8%, which is lower than Chicago Metro at 27.1%.

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Relative ZHVI
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Silver Lake Market Overview

Data through Aug 31, 2014
  • $152,300 ZHVI
  • 1.7% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $128,500 Median listing price
  • No recent data Median sale price
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Silver Lake Market Health

Data through Aug 31, 2014
  • 3.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 15.8% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.8% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Brighton $268,600 Randall $228,800 Wheatland $188,500
Salem $177,400 Twin Lakes $167,200 Camp Lake $138,000
Paddock Lake $129,400    

Listings & Sales

Data through Aug 31, 2014
  • $178 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 60.0% Listings with price cut
7.7%
Sold below listing
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Silver Lake Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,323 Silver Lake
    $1,645 Chicago Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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