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These days, finding an affordable place to live in the Great Lakes area can be challenging. Home prices in Great Lakes are now at a median cost of $341,759, higher than the Illinois average of $300,242.
The average cost of rent is $1,805/mo in Great Lakes, primarily driven by the current value of real estate in the Great Lakes area. In Great Lakes, 99.62% of households rent, and 36.28% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Great Lakes is $5,391 per month. Households that rent pay about 33.48% of their income on rent here. Great Lakes’s most expensive areas are in the eastern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- North Chicago, IL: less expensive homes
- Lake Bluff, IL: higher priced homes
- Green Oaks, IL: higher priced homes
- Park City, IL: less expensive homes
- Waukegan, IL: less expensive homes
- Lake Forest, IL: higher priced homes
- Mettawa, IL: higher priced homes
- Libertyville, IL: higher priced homes
- Gurnee, IL: equally priced homes
- Highwood, IL: higher priced homes
Cities with Similar Populations
- Vernon, NJ: equally priced homes
- Colonial Park, PA: less expensive homes
- Columbia Falls, MT: higher priced homes
- Columbia, KY: less expensive homes
- Cottonwood, CA: equally priced homes
- Townsend, DE: higher priced homes
- Tuscumbia, AL: less expensive homes
- Union, SC: less expensive homes
- Van Wert, OH: less expensive homes
- College Park, GA: less expensive homes
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