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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Wonder Lake, IL Real Estate Market

Source & Methodology

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

Wonder Lake, IL Housing Market Trends

With a population of 4,463, 1,461 total housing units (homes and apartments), and a median house value of $364,558, Wonder Lake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Wonder Lake, accounting for 98.98% of the village's housing units. Other types of housing that are prevalent in Wonder Lake include row houses and other attached homes ( 1.02%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wonder Lake. Owner-occupied housing accounts for 93.63% of Wonder Lake's homes, and 72.70% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wonder Lake's housing was primarily built during this period, from the '40s through the '60s. A full 43.61% of the village's housing hails from this era. Other housing ages represented in Wonder Lake include homes built between 2000 and later ( 26.85%) and housing constructed between 1970-1999 ( 21.55%). There's also some housing in Wonder Lake built before 1939 ( 7.99%).

Wonder Lake Home Appreciation Rates

Appreciation rates for homes in Wonder Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.88%, which ranks in the top 40% nationwide. This equates to an annual average Wonder Lake house appreciation rate of 7.22%.

NeighborhoodScout's data show that during the latest twelve months, Wonder Lake's appreciation rate, at 6.86%, has been at or slightly above the national average. In the latest quarter, Wonder Lake's appreciation rate has been 2.79%, which annualizes to a rate of 11.63%.

Relative to Illinois, our data show that Wonder Lake's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$364,558

Wonder Lake, IL Home Prices
> $1,436,000
$1,077,001 - $1,436,000
$718,001 - $1,077,000
$574,001 - $718,000
$431,001 - $574,000
$287,001 - $431,000
$144,001 - $287,000
$72,001 - $144,000
$0 - $72,000
1.0%
1.0%
0.1%
0.1%
2.7%
2.7%
4.2%
4.2%
18.2%
18.2%
27.4%
27.4%
37.7%
37.7%
5.9%
5.9%
2.7%
2.7%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

1,461

Wonder Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,262 / per month

Homeownership Rate

Owners
Renters
93.6%
93.6%
6.4%
6.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.6%
6.6%
93.4%
93.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
26.9%
26.9%
21.5%
21.5%
43.6%
43.6%
8.0%
8.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
99.0%
99.0%
1.0%
1.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
3.1%
3.1%
18.9%
18.9%
47.3%
47.3%
25.4%
25.4%
5.3%
5.3%
0% 100.0%
% of Homes