Lake County, Illinois Housing Market
In Lake County, Illinois, the median home value is $345,700, with a median monthly rent of $1,477. This places Lake County at #440 nationally out of 3134 counties by median home value, and #2 within Illinois.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,834
- Establishments: 19,614
- BLS QCEW, 2025
Housing Supply
- Single-family: 570
- Multi-family: 898
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 288,163 (avg $169,630)
- Outflow: 283,940 (avg $170,908)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Lake County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 60040 | 191.0 | +12.46% | 2025 |
| 2 | 60064 | 213.5 | -9.44% | 2025 |
| 3 | 60099 | 195.2 | +10.34% | 2025 |
| 4 | 60073 | 206.0 | +10.11% | 2025 |
| 5 | 60085 | 197.8 | +6.66% | 2025 |
| 6 | 60060 | 194.1 | +7.84% | 2025 |
| 7 | 60030 | 188.8 | +4.91% | 2025 |
| 8 | 60042 | 191.4 | +6.33% | 2025 |
| 9 | 60002 | 187.8 | +4.26% | 2025 |
| 10 | 60087 | 190.3 | +7.69% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Lake County Compares
| Metric | Lake County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $345,700 | $153,019 | $227,706 |
| Median Gross Rent | $1,477 | $867 | $968 |
| Owner Occupancy Rate | 74.8% | 75.8% | 73.3% |
| Price/Rent Ratio | 19.5 | 14.5 | 18.7 |
Market Analysis
The median home value in Lake County is 125.9% above the Illinois state average and 51.8% above the U.S. national average. The median rent of $1,477/month is 70.4% above the state average.
With a price-to-rent ratio of 19.5, the buy-vs-rent decision in Lake County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Lake County has an owner-occupancy rate of 74.8%, compared to 75.8% in Illinois and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Montgomery County | Texas | $346,200 | $1,532 |
| Chugach Census Area | Alaska | $346,200 | $1,369 |
| Platte County | Missouri | $345,100 | $1,334 |
| Jackson County | Georgia | $345,000 | $1,126 |
| Anoka County | Minnesota | $346,500 | $1,464 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Kane County | $327,000 | $1,453 | 76.0% |
| Cook County | $324,500 | $1,435 | 57.7% |
| Kendall County | $322,400 | $1,781 | 84.0% |
| Will County | $319,600 | $1,462 | 82.8% |
| McHenry County | $308,100 | $1,401 | 82.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).