Mundelein, Illinois Housing Market Prices
Updated
Mundelein 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.
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Median home price 471% above the Illinois median$855,703
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Median rent 22% above the Illinois median$1,555
Housing Market Overview
| Metric | Mundelein | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $855,703 | $149,936 | $248,835 |
| Price Trend (Annual %) | 42.4% | 2.5% | 7.5% |
| Median Gross Rent | $1,555 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mundelein is about 471% higher than in Illinois. Rent is about 22% 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 Mundelein, up about 42.4% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Mundelein rose about 38.3% between 2015 and 2024, from $1,125 to $1,555. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 8.2 yearly household incomes in Mundelein.
Buying the median-priced home in Mundelein costs roughly 45.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Mundelein. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Mundelein | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $855,703 | $149,936 | $248,835 |
| Median Household Income | $104,107 | $84,042 | $80,455 |
| Price-to-Income Ratio | 8.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mundelein rose about 553.2%, while median household income rose about 26.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mundelein | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.8% | 61.9% | 58.5% |
| Rental Rate | 28.6% | 30.4% | 31.2% |
| Vacancy Rate | 3.6% | 7.7% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Mundelein has a homeownership rate of 67.8%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Mundelein | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1981 | 1969 | 1978 |
| Median Number of Rooms | 5.7 | 5.6 | 5.5 |
The typical housing unit in Mundelein was built around 1981. On average, 2.7 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mundelein, Illinois.
What is the median home price in Mundelein, Illinois?
The median home price in Mundelein, Illinois is $855,703, higher than the Illinois average of $149,936.
What is the average home price in Mundelein, Illinois?
The typical home price in Mundelein, Illinois, reported as the median sale price, is $855,703. 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 Mundelein, Illinois?
The median gross rent in Mundelein, Illinois is $1,555 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Mundelein in 2020?
In 2020, the median gross rent in Mundelein, Illinois was $1,375 per month.
What is the price-to-rent ratio in Mundelein, Illinois?
The price-to-rent ratio in Mundelein, Illinois is about 45.9, meaning it would take roughly 45.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Mundelein.
Are home prices or rent rising faster in Mundelein, Illinois?
Both home prices and rent are rising in Mundelein, up about 42.4% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mundelein, Illinois?
67.8% of households in Mundelein, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Mundelein, Illinois?
The housing vacancy rate in Mundelein, Illinois is 3.6%, lower than the Illinois average of 7.7%.
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