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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lake Villa, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lake Villa, IL Housing Market Trends

With a population of 8,647, 3,078 total housing units (homes and apartments), and a median house value of $325,063, Lake Villa real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lake Villa, accounting for 70.70% of the village's housing units. Other types of housing that are prevalent in Lake Villa include large apartment complexes or high rise apartments ( 22.42%), row houses and other attached homes ( 5.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.15%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Villa. Owner-occupied housing accounts for 71.75% of Lake Villa's homes, and 62.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Villa built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lake Villa built between 2000 and later ( 38.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.05%). There's also some housing in Lake Villa built before 1939 ( 1.95%).

Lake Villa Home Appreciation Rates

Real estate appreciation rates in Lake Villa's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.06% during the period.

Over the last year, Lake Villa appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Villa's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Villa were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Lake Villa's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$325,063

Lake Villa, IL Home Prices
> $1,291,000
$968,001 - $1,291,000
$645,001 - $968,000
$516,001 - $645,000
$387,001 - $516,000
$258,001 - $387,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
0.5%
0.5%
0.8%
0.8%
3.6%
3.6%
7.0%
7.0%
20.1%
20.1%
47.7%
47.7%
17.7%
17.7%
0.3%
0.3%
2.4%
2.4%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

3,078

Lake Villa Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,345 / per month

Homeownership Rate

Owners
Renters
71.7%
71.7%
28.3%
28.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.8%
1.8%
98.2%
98.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
38.1%
38.1%
55.9%
55.9%
4.0%
4.0%
1.9%
1.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.7%
70.7%
5.7%
5.7%
1.1%
1.1%
22.4%
22.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
7.1%
7.1%
22.2%
22.2%
24.5%
24.5%
37.9%
37.9%
8.4%
8.4%
0% 100.0%
% of Homes