Lake County
Illinois · Pop. 714,342
Ranked #45 of 200 counties
52Moderate
Median Home Price
🏠$360K
2.5% YoY
Median Rent
🔑$1,550
Median Income
💰$85K
Rent Burden
📊26.5%
% of income to rent
Housing Shortage
🏗️8,000
estimated unit deficit
Building Permits (2024)
📋3,200
Price-to-Income Ratio
⚖️4.2x
Homeownership Rate
🏡70.5%
How Lake County Compares
| Metric | Lake County | Illinois | National |
|---|---|---|---|
| Home Price | $360K | $263K | $410K |
| Rent | $1,550 | $1,238 | $1,500 |
| Income | $85K | $80K | $75K |
| Rent Burden | 26.5% | 32.5% | 30.0% |
| Homeownership | 70.5% | 67.0% | 65.0% |
Key Takeaways
- • Home prices are 12% below the national average.
- • Rent is 3% above the national average.
- • The county has an estimated housing shortage of 8,000 units.
- • 3,200 building permits were issued in 2024.
- • Year-over-year home prices changed by 2.5%.