Home Price Key
Affordable
Average
Expensive
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 $265,366, higher than the Illinois average of $242,002.
The average cost of rent is $1,622/mo in Great Lakes, primarily driven by the current value of real estate in the Great Lakes area. While nearly 41.48% of residents own their homes outright in Great Lakes, 97.78% rent.
Housing affordability isn’t just about home prices, though. The average household income in Great Lakes is $5,903 per month. Households that rent pay about 27.47% of their income on rent here. Great Lakes's most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
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: less expensive 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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