Market Overview
Home Prices in Northlake, IL
The median home value in Northlake, IL is $311,401 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3% compared to a year ago and up 3.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Northlake are priced24% below average. Northlake is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Northlake home values have risen by approximately28.3%, reflecting strong long-term appreciation in this market.
Price History
Northlake Home Price Trend
City Comparison
Northlake vs. National Median
At $311,401, homes in Northlake cost 24% below the national median of $410,000. This makes Northlake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Northlake?
20% Down Payment
$62,280
on $311,401
Monthly P&I
$1,624/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,062/mo
incl. taxes & insurance
Income Needed
$82,480
gross annual (30% rule)
10% Down Option
$31,140
+ PMI applies
Loan Amount (20% dn)
$249,121
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 Northlake, IL?
The median home value in Northlake is $311,401 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3% year-over-year.
How much have home prices changed in Northlake?
Over the past year, home values in Northlake have increased by 3%. Over five years, prices have risen approximately 28.3%.
How much do I need to earn to buy a home in Northlake?
To comfortably afford the median home price of $311,401 with a 20% down payment ($62,280) at today's rates (6.8%), you'd need a gross annual income of approximately $82,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Northlake compare to the national average home price?
The national median home value is approximately $410,000. At $311,401, homes in Northlake are 24% below the national average.
What metro area is Northlake part of?
Northlake is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.