Lake in the Hills, IL Real Estate Market
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 Q2 2024. 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 in the Hills, IL Housing Market Trends
With a population of 28,700, 9,878 total housing units (homes and apartments), and a median house value of $409,763, Lake in the Hills real estate is some of the most expensive in Illinois, although Lake in the Hills home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Lake in the Hills, accounting for 74.58% of the village's housing units. Other types of housing that are prevalent in Lake in the Hills include row houses and other attached homes ( 17.48%), large apartment complexes or high rise apartments ( 6.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.60%).
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 in the Hills. Owner-occupied housing accounts for 86.06% of Lake in the Hills's homes, and 71.60% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lake in the Hills 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 in the Hills built between 2000 and later ( 26.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.51%).
Lake in the Hills Home Appreciation Rates
Appreciation rates for homes in Lake in the Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.72%, which ranks in the top 50% nationwide. This equates to an annual average Lake in the Hills house appreciation rate of 6.73%.
Appreciation rates are so strong in Lake in the Hills that despite a nationwide downturn in the housing market, Lake in the Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake in the Hills appreciation rates continue to be some of the highest in America, at 8.10%, which is higher than appreciation rates in 71.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake in the Hills. Lake in the Hills appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Lake in the Hills's latest annual appreciation rate is lower than 50% of the other cities and towns in Illinois.
One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Lake in the Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake in the Hills - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lake in the Hills real estate investment or home purchase decisions.
Median Home Value
$409,763
Very High
for Illinois
High
for nation
Number of Homes And Apartments:
9,878
IL
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$2,880 / per month