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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 Q1 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 8,692 people, 3,026 houses or apartments, and a median cost of homes of $304,662, 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 68.31% of the village's housing units. Other types of housing that are prevalent in Lake Villa include large apartment complexes or high rise apartments ( 25.68%), row houses and other attached homes ( 4.99%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.02%).

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 67.91% of Lake Villa's homes, and 61.94% 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 ( 37.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.14%). There's also some housing in Lake Villa built before 1939 ( 1.87%).

Lake Villa Home Appreciation Rates

Appreciation rates for homes in Lake Villa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 73.50%, which ranks in the top 50% nationwide. This equates to an annual average Lake Villa house appreciation rate of 5.66%.

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 4.94%, 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 -2.19%, which equates to an annual appreciation rate of -8.49%.

Relative to Illinois, our data show that Lake Villa's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$304,662

Lake Villa, IL Home Prices
> $1,297,000
$973,001 - $1,297,000
$648,001 - $973,000
$519,001 - $648,000
$389,001 - $519,000
$260,001 - $389,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
0.4%
0.4%
0.6%
0.6%
2.8%
2.8%
3.5%
3.5%
14.6%
14.6%
46.6%
46.6%
29.5%
29.5%
1.1%
1.1%
0.9%
0.9%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

3,026

Lake Villa Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,948 / per month

Homeownership Rate

Owners
Renters
Vacant
67.9%
67.9%
32.1%
32.1%
0.6%
0.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
37.7%
37.7%
56.3%
56.3%
4.1%
4.1%
1.9%
1.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.3%
68.3%
5.0%
5.0%
1.0%
1.0%
25.7%
25.7%
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%
7.5%
7.5%
21.6%
21.6%
23.3%
23.3%
38.7%
38.7%
9.0%
9.0%
0% 100.0%
% of Homes