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City · 89,076 residents · Lake County, Illinois

Waukegan , Illinois

In Waukegan, a typical home is worth $190,900 and typical rent is $1,205 a month. Compared with all of Lake County, the typical home value is 45% lower, typical household income is 35% lower, and the share of households that own their home is 25 points lower.

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  • Typical home value

    $190,900

    45% below the county

    27% below Illinois

    • Waukegan
    • Lake
    • Illinois

  • Typical rent

    $1,205a month

    18% below the county

    5% below Illinois

    • Waukegan
    • Lake
    • Illinois

  • Typical household income

    $71,919a year

    35% below the county

    14% below Illinois

    • Waukegan
    • Lake
    • Illinois

  • Households that own their home

    50%

    25 points below the county

    17 points below Illinois

    • Waukegan
    • Lake
    • Illinois

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

Market now, with Zillow data

Zillow data
Typical home value
$247,411
6.9% more than 12 months ago
Typical rent
$1,660 a month
2.9% more than 12 months ago

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

Waukegan is in Lake 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 Lake County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Waukegan apart

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

  1. 50% of households in Waukegan own their home, against 75% in Lake County.

  2. The typical home in Waukegan is worth $190,900, 45% less than in Lake County as a whole ($345,700).

  3. The typical household income in Waukegan is $71,919, 35% less than in Lake County as a whole ($110,416).

  4. Nearby, in North Chicago, the typical home value is $159,600: 16% less than in Waukegan ($190,900).

  5. The typical rent in Waukegan is $1,205 a month, 18% less than in Lake County as a whole ($1,477).

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

The homes here

Housing in Waukegan

What homes there are in Waukegan, 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

The detached house is still the most common home in Waukegan, but it weighs less than in Lake County: 52% against 67%.

Year built

Homes in Waukegan are older: the typical year built is 1967; in Lake County, 1983.

Homes in Waukegan are smaller: 49% have 3 bedrooms or more; in Lake County, 68%.

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

By price, most homes in Waukegan sit under the FHA limit for Lake County ($541,287): about 97%.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Lake County is $2,011; about 94% of rents in Waukegan are below it.

With a mortgage

$1,682 a month

Lake County: $2,503 a month

Without a mortgage

$713 a month

Lake County: $1,088 a month

Owners with a mortgage

56%

Lake County: 64%

In Waukegan, 56% of owners have a mortgage, and their typical cost is $1,682 a month, against $2,503 in Lake County. Without one it drops to $713.

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

From 2015–2019 to 2020–2024, the typical home value in Waukegan rose 44%; in Lake County, it rose 30%.

Much as in Lake County, the typical rent in Waukegan rose 26% since 2015–2019.

To compare: typical income in Waukegan rose 44%; the home, +44%; the rent, +26%.

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

MeasureWaukeganLake CountyIllinoisUnited States
Rental vacancy Unreliable estimate3.7%5.0%5.5%
Homeowner vacancy Unreliable estimate0.9%1.0%0.9%
More than one person per room 6.8%2.9%2.5%3.4%
People per household 2.722.692.462.53
Drive alone 70%66%66%69%
Carpool 16%9%8%9%
Public transit 2%3%6%3%
Walk or bike 1%2%3%3%
Work from home 8%20%16%15%
Other means 3%1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

More households are short on space in Waukegan: 6.8% have more than one person per room; in Lake County, 2.9%.

Much as in Lake County, a household in Waukegan has 2.72 people on average.

Carpooling is common in Waukegan: 16% of workers get to work that way, against 9% in Lake County.

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 Waukegan?

A typical home is tight for the typical income

We start with a typical home in Waukegan, worth $190,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Waukegan, which is $71,919 a year. For that payment to be 28% of income, a household would need to earn about $78,424 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Waukegan. 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 $6,682 (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

$1,830

at 7.18% · 30 years

Loan amount
$187,442
Total interest
$269,685
Paid off in
November 2056

Includes $3,224 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,678 a month

  • Tight

    $1,678 to $2,158 a month

    Your payment · 31%

  • Hard

    more than $2,158 a month

Compared with the typical household income in Waukegan ($71,919 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,830
Principal & interest$1,270
Property tax$396
Home insurance$80
FHA mortgage insurance (MIP)$84

You need at least $6,682 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

Waukegan and Lake County

Waukegan is in Lake 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).

Waukegan's own numbers

Typical home value
$190,900
Typical monthly rent
$1,205
Typical yearly household income
$71,919
Households that own their home
50%
Effective property tax rate
2.49%

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

Numbers for all of Lake 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)
+54%
Homes in a high flood-risk zone
2%

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 Lake County.

Everything about Lake County

Buying

Buying a home in Waukegan

A typical home in Waukegan is worth $190,900: 45% below the county and 27% below Illinois. With the typical household income in Waukegan ($71,919 a year), a typical home costs 2.7 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.

  • Waukegan 2.7 years
  • Lake 3.1 years
  • Illinois 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Lake County

According to FHFA’s house price index, home prices in Lake County rose 66% in the 10 years through 2025.

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

Period County Illinois U.S.
Last year (2025) +6.7% +5.7% +2.9%
5 years (2020–2025) +54% +47% +47%
10 years (2015–2025) +66% +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

Waukegan next to Lake 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
  • Waukegan $190,900
  • Lake $345,700
  • Illinois $263,300
  • United States $332,700
Typical monthly rent
  • Waukegan $1,205
  • Lake $1,477
  • Illinois $1,274
  • United States $1,413
Typical yearly household income
  • Waukegan $71,919
  • Lake $110,416
  • Illinois $83,390
  • United States $80,734
See the full table
Waukegan next to Lake County and Illinois
Measure Waukegan Lake County Illinois U.S.
Typical home value $190,900 $345,700 $263,300 $332,700
Typical monthly rent $1,205 $1,477 $1,274 $1,413
Typical yearly household income $71,919 $110,416 $83,390 $80,734
Households that own their home 50% 75% 67% 65%
Typical yearly property tax $4,759 $8,923 $5,298 $3,119
Effective property tax rate 2.49% 2.58% 2.01% 0.94%
Renters with high rent for their income 49% 49% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lake 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 Waukegan

For a typical $190,900 home in Waukegan, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Waukegan's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,830a month

    Least cash to close
    Down payment
    $6,682
    Cash to close
    $12,409
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $84

  • Conventional, 5% down $1,795a month

    Down payment
    $9,545
    Cash to close
    $15,272
    Rate
    7.18%
    Mortgage insurance
    PMI · $91

  • Conventional, 20% down, no PMI $1,510a month

    Down payment
    $38,180
    Cash to close
    $43,907
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,687a month

    Down payment
    $28,635
    Cash to close
    $34,362
    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 Waukegan and for Lake County.

Property tax

Effective rate in Waukegan

2.49%of the home’s value each year

$4,759 a year for the typical owner in Waukegan.

  • Waukegan 2.49%
  • Lake 2.58%
  • Illinois 2.01%

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

Exemptions and deadlines in Illinois

Flood risk in Lake County

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

Homes in the high-risk zone
2%
4,579
Of those, with NFIP insurance
24%
County Illinois U.S.
Homes in the high-risk zone 2% 1.5% 3.5%
Of those, with NFIP insurance 24% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Waukegan

Typical rent in Waukegan is $1,205 a month: 18% below the county. In Waukegan, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Lake 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 Lake 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 Waukegan

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Waukegan has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,720 in 60085 to $1,840 in 60087.

None is above the fair market rent for Lake County ($2,011).

  • 60085 $1,720$2,210
  • 60087 $1,840$2,370

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Waukegan 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?

Low-income apartments

Low-income apartments in Waukegan

HUD lists 19 buildings with rents for lower incomes in Waukegan. These are the largest.

  • Whispering Oaks Apts 2443 W Dugdale Rd, Waukegan 60085 405 low-income homes · 1 bd: 289 · 2 bd: 174 · 3 bd: 91 · In service since 2009
  • Whispering Oaks Apartments 2401 W Dugdale Rd, Waukegan 60085 404 low-income homes · For families (847) 336-4400
  • Lilac Ledge Apartments 542 Washington St, Waukegan 60085 203 low-income homes · For older adults (847) 662-2277
  • Kings Court Apts 2801 W Grandville Ave, Waukegan 60085 168 low-income homes · 1 bd: 98 · 2 bd: 70 · In service since 1998
  • Buckingham Place Apts 3040 W 8th St, Waukegan 60085 166 low-income homes · 1 bd: 85 · 2 bd: 66 · 3 bd: 15 · In service since 1997

See all 67 buildings in Lake County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Waukegan

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 Lake County; 1 says it serves in Spanish.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Waukegan

No down payment, repair or rent-help program on our list is for Waukegan or Lake County. The ones below are statewide in Illinois: they work in Waukegan 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 Waukegan

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

  • Community Partners for Affordable Housing

    800 S Milwaukee Ave Ste 201, Libertyville · 8 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (847) 263-7478

  • Lake County Housing Authority

    22843 N Lakewood Ln, Lake Zurich · 15 miles away

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

  • Hana Center-Prospect Heights

    664 N Milwaukee Ave Ste 213, Prospect Heights · 18 miles away · Spanish

    Also serves in Korean.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (847) 520-1999

Every agency in Lake County All counseling agencies in Illinois

Help in Spanish near Waukegan

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 Waukegan

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

  • Housing Authority of the City of Waukegan Public housing and Section 8 vouchers (847) 244-8500
  • Housing Authority of the County of Lake, IL. Public housing and Section 8 vouchers (847) 223-1170

One other authority has an office in Lake County: see the list Source: HUD

Cities

Other cities in Lake County

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

Everything about Lake County Housing in Illinois
See 20 more cities in Lake County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

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

Neighboring counties

If Lake 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 Waukegan.

All guides
A father smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Waukegan

Short answers with the numbers for Waukegan and all of Lake 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 Waukegan?

The typical home value in Waukegan is $190,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lake County it is $345,700.

How much does it cost to rent in Waukegan?

Typical rent in Waukegan is $1,205 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lake County is $2,011.

What is the FHA loan limit in Waukegan?

Waukegan uses the FHA limit for all of Lake 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 Waukegan?

The typical homeowner in Waukegan pays $4,759 a year, according to the U.S. Census Bureau. That is 2.49% of the home’s value; in Lake County, the rate is 2.58%.

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

There are 2 HUD-approved counseling agencies with an office in Lake County. 1 says it serves 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).