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Affordable
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These days, finding an affordable place to live in the Third Lake area can be challenging. Home prices in Third Lake are now at a median cost of $334,217, higher than the Illinois average of $300,242.
The average cost of rent is $2,029/mo in Third Lake, primarily driven by the current value of real estate in the Third Lake area. In Third Lake, 2.49% of households rent, and 32.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Third Lake is $11,269 per month. Households that rent pay about 18.00% of their income on rent here. Third Lake’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Gages Lake, IL: equally priced homes
- Grayslake, IL: equally priced homes
- Gurnee, IL: equally priced homes
- Hainesville, IL: less expensive homes
- Venetian Village, IL: less expensive homes
- Old Mill Creek, IL: higher priced homes
- Lindenhurst, IL: less expensive homes
- Round Lake Park, IL: less expensive homes
- Round Lake Beach, IL: less expensive homes
- Round Lake Heights, IL: less expensive homes
Cities with Similar Populations
- Flat Rock, IL: less expensive homes
- West Cape May, NJ: higher priced homes
- Garibaldi, OR: higher priced homes
- Garden Prairie, IL: less expensive homes
- West Rushville, OH: less expensive homes
- Weyerhaeuser, WI: less expensive homes
- Frost, TX: less expensive homes
- Freedom, ME: less expensive homes
- Freedom, IN: less expensive homes
- Fonda, IA: less expensive homes
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