Market Overview
Home Prices in Lily Lake, IL
The median home value in Lily Lake, IL is $583,046 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.8% compared to a year ago and up 3.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lily Lake are priced42% above average. Lily Lake is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Lily Lake home values have risen by approximately32.0%, reflecting strong long-term appreciation in this market.
Price History
Lily Lake Home Price Trend
City Comparison
Lily Lake vs. National Median
At $583,046, homes in Lily Lake cost 42% above the national median of $410,000. Buyers in Lily Lake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lily Lake?
20% Down Payment
$116,609
on $583,046
Monthly P&I
$3,041/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,862/mo
incl. taxes & insurance
Income Needed
$154,480
gross annual (30% rule)
10% Down Option
$58,305
+ PMI applies
Loan Amount (20% dn)
$466,437
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 Lily Lake, IL?
The median home value in Lily Lake is $583,046 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.8% year-over-year.
How much have home prices changed in Lily Lake?
Over the past year, home values in Lily Lake have increased by 3.8%. Over five years, prices have risen approximately 32.0%.
How much do I need to earn to buy a home in Lily Lake?
To comfortably afford the median home price of $583,046 with a 20% down payment ($116,609) at today's rates (6.8%), you'd need a gross annual income of approximately $154,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Lily Lake compare to the national average home price?
The national median home value is approximately $410,000. At $583,046, homes in Lily Lake are 42% above the national average.
What metro area is Lily Lake part of?
Lily Lake is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.