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City · 30,067 residents · McHenry County, Illinois

Algonquin , Illinois

In Algonquin, a typical home is worth $351,000 and typical rent is $1,723 a month. Compared with all of McHenry County, typical household income is 28% higher, typical rent is 23% higher, and the share of households that own their home is 5 points higher.

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  • Typical home value

    $351,000

    14% above the county

    33% above Illinois

    • Algonquin
    • McHenry
    • Illinois

  • Typical rent

    $1,723a month

    23% above the county

    35% above Illinois

    • Algonquin
    • McHenry
    • Illinois

  • Typical household income

    $134,525a year

    28% above the county

    61% above Illinois

    • Algonquin
    • McHenry
    • Illinois

  • Households that own their home

    88%

    5 points above the county

    21 points above Illinois

    • Algonquin
    • McHenry
    • Illinois

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$414,410
4.3% more than 12 months ago
Typical rent
$2,378 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Algonquin is in McHenry County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of McHenry County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Algonquin apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Carpentersville, the typical home value is $234,100: 33% less than in Algonquin ($351,000).

  2. The typical household income in Algonquin is $134,525, 28% more than in McHenry County as a whole ($104,802).

  3. The typical rent in Algonquin is $1,723 a month, 23% more than in McHenry County as a whole ($1,401).

  4. Nearby, in Carpentersville, the typical rent is $1,414: 18% less than in Algonquin ($1,723).

  5. 88% of households in Algonquin own their home, against 83% in McHenry County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Algonquin

What homes there are in Algonquin, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in McHenry County, most homes in Algonquin are detached houses (75%).

Year built

Homes in Algonquin are newer: the typical year built is 1994; in McHenry County, 1989.

Homes in Algonquin are bigger: 79% have 3 bedrooms or more; in McHenry County, 73%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for McHenry County is $541,287, and about 93% of owner-occupied homes in Algonquin are worth less than that.

Monthly rent with utilities

With a mortgage

$2,307 a month

McHenry County: $2,137 a month

Without a mortgage

$1,023 a month

McHenry County: $945 a month

Owners with a mortgage

75%

McHenry County: 68%

The typical cost for an owner with a mortgage in Algonquin is $2,307 a month, more than in McHenry County ($2,137); without one, $1,023.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Algonquin rose 37% since 2015–2019, about the same as in McHenry County (37%).

The typical rent in Algonquin stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureAlgonquinMcHenry CountyIllinoisUnited States
Rental vacancy Unreliable estimate2.9%5.0%5.5%
Homeowner vacancy Unreliable estimate0.5%1.0%0.9%
More than one person per room Unreliable estimate1.5%2.5%3.4%
People per household 2.742.642.462.53
Drive alone 68%73%66%69%
Carpool 5%8%8%9%
Public transit 1%1%6%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 23%16%16%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

By size, households in Algonquin look like those in McHenry County: 2.74 people on average.

In Algonquin, 23% of workers work from home, more than in McHenry County (16%).

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Algonquin?

A typical home is tight for the typical income

We start with a typical home in Algonquin, worth $351,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 29% of the typical household income in Algonquin, which is $134,525 a year. For that payment to be 28% of income, a household would need to earn about $141,688 a year.

The calculator's FHA and conventional loan limits are those of all of McHenry County.

Your numbers

Local data
$

Starts at the typical home value in Algonquin. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,285 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,306

at 7.18% · 30 years

Loan amount
$344,643
Total interest
$495,860
Paid off in
November 2056

Includes $5,928 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,139 a month

  • Tight

    $3,139 to $4,036 a month

    Your payment · 29%

  • Hard

    more than $4,036 a month

Compared with the typical household income in Algonquin ($134,525 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,306
Principal & interest$2,335
Property tax$670
Home insurance$146
FHA mortgage insurance (MIP)$155

You need at least $12,285 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Algonquin and McHenry County

Algonquin is in McHenry County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Algonquin's own numbers

Typical home value
$351,000
Typical monthly rent
$1,723
Typical yearly household income
$134,525
Households that own their home
88%
Effective property tax rate
2.29%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of McHenry County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,011
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
2.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of McHenry County.

Everything about McHenry County

Buying

Buying a home in Algonquin

A typical home in Algonquin is worth $351,000: 14% above the county and 33% above Illinois. With the typical household income in Algonquin ($134,525 a year), a typical home costs 2.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Algonquin 2.6 years
  • McHenry 2.9 years
  • Illinois 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in McHenry County

According to FHFA’s house price index, home prices in McHenry County rose 86% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of McHenry County.

Period County Illinois U.S.
Last year (2025) +5.8% +5.7% +2.9%
5 years (2020–2025) +57% +47% +47%
10 years (2015–2025) +86% +65% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Algonquin next to McHenry County, Illinois and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Algonquin $351,000
  • McHenry $308,100
  • Illinois $263,300
  • United States $332,700
Typical monthly rent
  • Algonquin $1,723
  • McHenry $1,401
  • Illinois $1,274
  • United States $1,413
Typical yearly household income
  • Algonquin $134,525
  • McHenry $104,802
  • Illinois $83,390
  • United States $80,734
See the full table
Algonquin next to McHenry County and Illinois
Measure Algonquin McHenry County Illinois U.S.
Typical home value $351,000 $308,100 $263,300 $332,700
Typical monthly rent $1,723 $1,401 $1,274 $1,413
Typical yearly household income $134,525 $104,802 $83,390 $80,734
Households that own their home 88% 83% 67% 65%
Typical yearly property tax $8,025 $7,274 $5,298 $3,119
Effective property tax rate 2.29% 2.36% 2.01% 0.94%
Renters with high rent for their income 45% 51% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below McHenry County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Algonquin

For a typical $351,000 home in Algonquin, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Algonquin's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,306a month

    Least cash to close
    Down payment
    $12,285
    Cash to close
    $22,815
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $155

  • Conventional, 5% down $3,242a month

    Down payment
    $17,550
    Cash to close
    $28,080
    Rate
    7.18%
    Mortgage insurance
    PMI · $167

  • Conventional, 20% down, no PMI $2,718a month

    Down payment
    $70,200
    Cash to close
    $80,730
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,043a month

    Down payment
    $52,650
    Cash to close
    $63,180
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Algonquin and for McHenry County.

Property tax

Effective rate in Algonquin

2.29%of the home’s value each year

$8,025 a year for the typical owner in Algonquin.

  • Algonquin 2.29%
  • McHenry 2.36%
  • Illinois 2.01%

What Illinois publishes General Homestead Exemption (Illinois Department of Revenue)

Exemptions and deadlines in Illinois

Flood risk in McHenry County

FEMA does not publish these numbers by city: they are for all of McHenry County.

Homes in the high-risk zone
2.9%
3,218
Of those, with NFIP insurance
19%
County Illinois U.S.
Homes in the high-risk zone 2.9% 1.5% 3.5%
Of those, with NFIP insurance 19% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Algonquin

Typical rent in Algonquin is $1,723 a month: 23% above the county. In Algonquin, 45% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of McHenry County, by unit size. To pay the 2-bedroom one ($2,011 a month) without spending more than 30% of your income, you would need to earn $38.67 an hour working full time.

HUD fair market rent for all of McHenry County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,678 $32.27 $67,120
1 bedroom $1,780 $34.23 $71,200
2 bedrooms $2,011 $38.67 $80,440
3 bedrooms $2,586 $49.73 $103,440
4 bedrooms $2,954 $56.81 $118,160

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Algonquin

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Algonquin is in ZIP code 60102.

For 2 bedrooms it is $2,690: $679 more than the fair market rent for McHenry County ($2,011).

  • 60102 $2,690$3,460

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Algonquin when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Algonquin

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 2 HUD-approved agencies with an office in McHenry County; 2 say they serve in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Algonquin

No down payment, repair or rent-help program on our list is for Algonquin or McHenry County. The ones below are statewide in Illinois: they work in Algonquin the same as in the rest of the state.

Which programs do I qualify for? All programs in Illinois

  • IHDAccess Home

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with deferred payments for first-time buyers in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

  • IHDAccess Forgivable

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan forgiven little by little over ten years, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Forgivable

    See the program Official page

  • IHDAccess Deferred

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

Housing counselors near Algonquin

The HUD-approved agencies closest to the center of Algonquin, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Restoration America, Inc.

    101 N Main St Ste 14, Crystal Lake · 6 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    (847) 783-0232

  • Consumer Credit Counseling Services of Northern Illinois

    620 Wing St, Elgin · 8 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (815) 338-5757

  • Lake County Housing Authority

    22843 N Lakewood Ln, Lake Zurich · 13 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (847) 223-1170

Every agency in McHenry County All counseling agencies in Illinois

Help in Spanish near Algonquin

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Algonquin

HUD’s record names them for Algonquin or McHenry County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • McHenry County Housing Authority Public housing and Section 8 vouchers (815) 338-7752

All housing agencies in Illinois Source: HUD

Cities

Other cities in McHenry County

These cities are also in McHenry County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about McHenry County Housing in Illinois

Nearby cities

The cities closest to Algonquin, with the typical home value.

Neighboring counties

If McHenry County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Algonquin.

All guides
Three generations of a family gather on the porch of their home.

Questions

Housing questions about Algonquin

Short answers with the numbers for Algonquin and all of McHenry County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Algonquin?

The typical home value in Algonquin is $351,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in McHenry County it is $308,100.

How much does it cost to rent in Algonquin?

Typical rent in Algonquin is $1,723 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in McHenry County is $2,011.

What is the FHA loan limit in Algonquin?

Algonquin uses the FHA limit for all of McHenry County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Algonquin?

The typical homeowner in Algonquin pays $8,025 a year, according to the U.S. Census Bureau. That is 2.29% of the home’s value; in McHenry County, the rate is 2.36%.

Where can I find free help to buy or rent in Algonquin?

There are 2 HUD-approved counseling agencies with an office in McHenry County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).