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Lake County Housing Market

Illinois · 102 counties · Ranked #2739 in home value

Above National AvgAffordable

Housing at a Glance

Median Home Value

$326,600

vs national+$326,600 vs $281,900 national

Median Gross Rent

$1,434/mo

vs national+$1,434 vs $1,163 national

Effective Tax Rate

2.68%

vs national+2.68% vs 1.02% national

Median Household Income

$108,917

vs national+$108,917 vs $74,755 national

Affordability Ratio

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

28.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$8,743

Tax as % of Home Value

2.68%

Monthly Owner Cost

$1,891

Renter Income

$59,000

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Similar Counties by Home Value

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Frequently Asked Questions

What is the median home value in Lake County?

The median home value in Lake County is $326,600. This is above the national median of $281,900.

How much is rent in Lake County?

The median gross rent in Lake County is $1,434 per month.

What is the property tax rate in Lake County?

The effective property tax rate in Lake County is 2.68%. The median annual property tax bill is $8,743.

Is Lake County affordable?

With a home-value-to-income ratio of 3x, Lake County is considered affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.