Market Overview
Home Prices in Long Lake, IL
The median home value in Long Lake, IL is $263,296 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% 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 Long Lake are priced36% below average. Long Lake is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Long Lake home values have risen by approximately31.1%, reflecting strong long-term appreciation in this market.
Price History
Long Lake Home Price Trend
City Comparison
Long Lake vs. National Median
At $263,296, homes in Long Lake cost 36% below the national median of $410,000. This makes Long Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Long Lake?
20% Down Payment
$52,659
on $263,296
Monthly P&I
$1,373/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,744/mo
incl. taxes & insurance
Income Needed
$69,760
gross annual (30% rule)
10% Down Option
$26,330
+ PMI applies
Loan Amount (20% dn)
$210,637
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 Long Lake, IL?
The median home value in Long Lake is $263,296 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Long Lake?
Over the past year, home values in Long Lake have increased by 3.9%. Over five years, prices have risen approximately 31.1%.
How much do I need to earn to buy a home in Long Lake?
To comfortably afford the median home price of $263,296 with a 20% down payment ($52,659) at today's rates (6.8%), you'd need a gross annual income of approximately $69,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Long Lake compare to the national average home price?
The national median home value is approximately $410,000. At $263,296, homes in Long Lake are 36% below the national average.
What metro area is Long Lake part of?
Long 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.