Lake County, Illinois Housing Market Prices
Lake County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 48% above the Illinois median More expensive than 90% of counties in Illinois$221,886
-
Median rent 16% above the Illinois median Among the 3 most expensive counties in Illinois$1,476
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lake County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,886 | $149,936 | $248,835 |
| Price Trend (Annual %) | 4.9% | 2.5% | 7.5% |
| Median Gross Rent | $1,476 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lake County is about 48% higher than in Illinois. Rent is about 16% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lake County, up about 4.9% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Lake County rose about 38.2% between 2015 and 2024, from $1,069 to $1,476. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Lake County.
Buying the median-priced home in Lake County costs roughly 12.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Lake County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,886 | $149,936 | $248,835 |
| Median Household Income | $111,219 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lake County rose about 29.3%, while median household income rose about 38.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lake County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.5% | 61.9% | 58.5% |
| Rental Rate | 24.0% | 30.4% | 31.2% |
| Vacancy Rate | 4.5% | 7.7% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Lake County has a homeownership rate of 71.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 4.5%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Lake County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.69 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1979 | 1969 | 1978 |
| Median Number of Rooms | 6.3 | 5.6 | 5.5 |
The typical housing unit in Lake County was built around 1979. On average, 2.7 people live in a home with about 6.3 rooms, staying for about 16.0 years on average.
Lake County, IL Housing Compared With Nearby Counties
Lake County, IL is the 4th largest of the 6 counties compared here, 714,026 residents against a local median of 925,807. The measure that sets Lake County, IL apart most is median home price: $221,886, 26% above the local median of $175,947.
Median rent tells the same story from another angle: $1,476 against a local median of $1,218, 21% above it. The counties themselves spread $230,433 on median home price, so Lake County, IL sits at one end of an already wide local range rather than apart from it. Lake County, IL has the 3rd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lake County, IL | 714,026 | $221,886 #3/6 | $1,476 #2/6 | 74.8% #1/6 |
| Kenosha County, WI | 168,436 | $172,058 | $1,218 | 66.7% |
| Cook County, IL | 5,180,889 | $248,814 | $1,434 | 57.7% |
| Racine County, WI | 197,532 | $175,947 | $1,080 | 71.0% |
| DuPage County, IL | 929,812 | $400,376 | $1,688 | 73.1% |
| Milwaukee County, WI | 925,807 | $169,943 | $1,100 | 49.9% |
Frequently Asked Questions
Common questions about the housing market in Lake County, Illinois.
What is the median home price in Lake County, Illinois?
The median home price in Lake County, Illinois is $221,886, higher than the Illinois average of $149,936.
What is the average home price in Lake County, Illinois?
The typical home price in Lake County, Illinois, reported as the median sale price, is $221,886. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lake County, Illinois?
The median gross rent in Lake County, Illinois is $1,476 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Lake County in 2020?
In 2020, the median gross rent in Lake County, Illinois was $1,215 per month.
What is the price-to-rent ratio in Lake County, Illinois?
The price-to-rent ratio in Lake County, Illinois is about 12.5, meaning it would take roughly 12.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County.
Are home prices or rent rising faster in Lake County, Illinois?
Both home prices and rent are rising in Lake County, up about 4.9% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lake County, Illinois?
71.5% of households in Lake County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Lake County, Illinois?
The housing vacancy rate in Lake County, Illinois is 4.5%, lower than the Illinois average of 7.7%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →