Lake County, Illinois home prices
Typical home $398,052 · +6.0% in a year · property tax 2.58%
The typical home in Lake County is worth $398,052, 35% more than the Illinois typical home ($295,943). Values changed +6.0% in the past year and +35.7% over five years. Homeowners here pay a median 2.58% of their home's value in property tax each year ($10,274 on the typical home), versus 1.92% statewide.
Mortgage on the typical Lake County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $79,610 | $318,442 | $2,142 | $0 | $1,055 | $3,197 | $137,000 |
| 10% down | $39,805 | $358,247 | $2,410 | $149 | $1,055 | $3,614 | $154,900 |
| 5% down | $19,903 | $378,149 | $2,544 | $158 | $1,055 | $3,757 | $161,000 |
| 3.5% down (FHA) | $13,932 | $390,842 | $2,629 | $176 | $1,055 | $3,860 | $165,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 2.58% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Illinois · part of the Chicago metro area.
Illinois counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Kendall County | $395,398 | +3.2% | 2.37% |
| Kane County | $383,834 | +5.0% | 2.26% |
| Will County | $376,285 | +2.8% | 2.24% |
| McHenry County | $367,683 | +4.7% | 2.36% |
| DuPage County | $437,880 | +4.3% | 2.05% |
| Cook County | $340,258 | +6.0% | 1.91% |
| Grundy County | $322,819 | +3.6% | 1.99% |
| Monroe County | $322,053 | +2.3% | 1.63% |
| DeKalb County | $294,833 | +5.0% | 2.45% |
| Boone County | $286,262 | +6.4% | 2.18% |
Frequently asked questions
What is the average home price in Lake County, IL?
The typical home value in Lake County is $398,052 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Lake County?
About $137,000 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Lake County?
The median effective rate is 2.58% of home value a year (Census ACS 2024 5-year estimates).