Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$398,052+6.0% YoY · prices are rising fast
Market right nowBalanced, leaning sellersMore homes for sale than last year, 17% have cut their price
Income needed to buy, per year$86,289About 0.8× the local median income ($108,137): affordable for a typical household
Days on market36 daysAbout the same pace as a year ago
Next 12 months+2.7%Zillow expects prices to rise slightly
The typical home in Lake County, IL is worth $398,052, up 6.0% from a year ago. That is well above what local incomes have historically supported: fair value is about $349,355, so the area is 13.9% overvalued. It is a balanced market, leaning toward sellers: homes take about 36 days to sell, listings are up 10% from a year ago, 17% of listings have had a price cut. Zillow expects prices to rise about 2.7% over the next year. A household needs about $86,289 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $108,137. Typical rent is $2,255 a month, or $2,644 for a house. In the latest IRS figures, 3,146 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$398,052
Change in 1 year
+6.0%
Overvalued %
+13.9%
Show 7 more
Fair home value
$349,355
Change in 5 years
+35.7%
Zillow forecast, next 12 months
+2.7%
Home value to income
3.7×
Monthly mortgage payment (20% down)
$2,157
Income needed to afford it
$86,289
Property tax rate
2.58%
Rent and investing
Typical rent
$2,255
Typical rent for houses
$2,644
Price-to-rent ratio
14.7×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$2,011
Gross rental yield
6.80%
Cap rate (estimate)
4.42%
Market activity
Listings vs a year ago
+10.2%
Days on market
36
Listings with a price cut
17.0%
Show 3 more
Homes for sale
1,208
Pending sales per 100 listings
64
Asking price per sq ft
$228
People and jobs
Median household income
$108,137
Population change (1 year)
+0.1%
Unemployment rate
5.2%
Show 4 more
Population
719,339
Income adjusted for cost of living
$104,379
Net moves in (IRS)
−3,146
Cost of living (US = 100)
103.6
Schools, risk and environment
School rating (1 to 10)
6.8
FEMA hazard risk score (0 to 100)
96.0
Unhealthy air days a year
5
Show 4 more
Flood risk score
97.2
Wildfire risk score
44.9
Walkability (1 to 20)
10.0
Road, rail and air noise
53 dB
Questions people ask
Is Lake County, IL overvalued?
Home prices in Lake County, IL are well above what local incomes have historically supported: fair value is about $349,355, so the area is 13.9% overvalued.
Is Lake County, IL a buyer's or seller's market?
Lake County, IL is a balanced market, leaning toward sellers: homes take about 36 days to sell, listings are up 10% from a year ago, 17% of listings have had a price cut.
Are home prices going down in Lake County, IL?
Home values in Lake County, IL are up 6.0% over the last year. Zillow's forecast for the next 12 months is +2.7%.
How much do you need to earn to buy a home in Lake County, IL?
A household needs about $86,289 a year to afford the typical home in Lake County, IL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $108,137.