Market Overview
Home Prices in Lake Village, IN
The median home value in Lake Village, IN is $302,383 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.8% compared to a year ago and up 5.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Village are priced26% below average. Lake Village is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Lake Village home values have risen by approximately33.3%, reflecting strong long-term appreciation in this market.
Price History
Lake Village Home Price Trend
City Comparison
Lake Village vs. National Median
At $302,383, homes in Lake Village cost 26% below the national median of $410,000. This makes Lake Village a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Village?
20% Down Payment
$60,477
on $302,383
Monthly P&I
$1,577/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,003/mo
incl. taxes & insurance
Income Needed
$80,120
gross annual (30% rule)
10% Down Option
$30,238
+ PMI applies
Loan Amount (20% dn)
$241,906
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 Village, IN?
The median home value in Lake Village is $302,383 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 Lake Village?
Over the past year, home values in Lake Village have increased by 3.8%. Over five years, prices have risen approximately 33.3%.
How much do I need to earn to buy a home in Lake Village?
To comfortably afford the median home price of $302,383 with a 20% down payment ($60,477) at today's rates (6.8%), you'd need a gross annual income of approximately $80,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Village compare to the national average home price?
The national median home value is approximately $410,000. At $302,383, homes in Lake Village are 26% below the national average.
What metro area is Lake Village part of?
Lake Village is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.