Vernon Hills, Illinois Housing Market Prices
Updated
Vernon Hills 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 620% above the Illinois median$1,079,282
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Median rent 49% above the Illinois median$1,902
Housing Market Overview
| Metric | Vernon Hills | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,079,282 | $149,936 | $248,835 |
| Price Trend (Annual %) | 18.9% | 2.5% | 7.5% |
| Median Gross Rent | $1,902 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Vernon Hills is about 620% higher than in Illinois. Rent is about 49% 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 Vernon Hills, up about 18.9% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Vernon Hills rose about 28.1% between 2015 and 2024, from $1,485 to $1,902. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 8.0 yearly household incomes in Vernon Hills.
Buying the median-priced home in Vernon Hills costs roughly 47.3 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 Vernon Hills. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Vernon Hills | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,079,282 | $149,936 | $248,835 |
| Median Household Income | $134,343 | $84,042 | $80,455 |
| Price-to-Income Ratio | 8.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Vernon Hills rose about 167.5%, while median household income rose about 32.7% 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 | Vernon Hills | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.6% | 61.9% | 58.5% |
| Rental Rate | 25.2% | 30.4% | 31.2% |
| Vacancy Rate | 3.1% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Vernon Hills has a homeownership rate of 71.6%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.1%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Vernon Hills | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1989 | 1969 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Vernon Hills was built around 1989. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Vernon Hills, Illinois.
What is the median home price in Vernon Hills, Illinois?
The median home price in Vernon Hills, Illinois is $1,079,282, higher than the Illinois average of $149,936.
What is the average home price in Vernon Hills, Illinois?
The typical home price in Vernon Hills, Illinois, reported as the median sale price, is $1,079,282. 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 Vernon Hills, Illinois?
The median gross rent in Vernon Hills, Illinois is $1,902 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Vernon Hills in 2020?
In 2020, the median gross rent in Vernon Hills, Illinois was $1,705 per month.
What is the price-to-rent ratio in Vernon Hills, Illinois?
The price-to-rent ratio in Vernon Hills, Illinois is about 47.3, meaning it would take roughly 47.3 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 Vernon Hills.
Are home prices or rent rising faster in Vernon Hills, Illinois?
Both home prices and rent are rising in Vernon Hills, up about 18.9% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Vernon Hills, Illinois?
71.6% of households in Vernon Hills, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Vernon Hills, Illinois?
The housing vacancy rate in Vernon Hills, Illinois is 3.1%, lower than the Illinois average of 7.7%.
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