Market Overview
Home Prices in Lake Villa, IL
The median home value in Lake Villa, IL is $387,004 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.2% compared to a year ago and up 5.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Villa are priced6% below average. Lake Villa is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Lake Villa home values have risen by approximately37.7%, reflecting strong long-term appreciation in this market.
Price History
Lake Villa Home Price Trend
City Comparison
Lake Villa vs. National Median
At $387,004, homes in Lake Villa cost 6% below the national median of $410,000. This makes Lake Villa a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Villa?
20% Down Payment
$77,401
on $387,004
Monthly P&I
$2,018/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,563/mo
incl. taxes & insurance
Income Needed
$102,520
gross annual (30% rule)
10% Down Option
$38,700
+ PMI applies
Loan Amount (20% dn)
$309,603
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lake Villa, IL?
The median home value in Lake Villa is $387,004 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.2% year-over-year.
How much have home prices changed in Lake Villa?
Over the past year, home values in Lake Villa have increased by 5.2%. Over five years, prices have risen approximately 37.7%.
How much do I need to earn to buy a home in Lake Villa?
To comfortably afford the median home price of $387,004 with a 20% down payment ($77,401) at today's rates (6.8%), you'd need a gross annual income of approximately $102,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Villa compare to the national average home price?
The national median home value is approximately $410,000. At $387,004, homes in Lake Villa are 6% below the national average.
What metro area is Lake Villa part of?
Lake Villa is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.