Home Insurance in Lake County, Illinois
Homes in Lake County carry a median value of $345,700 - 31% higher than the Illinois median.
The typical home in Lake County was built around 1983. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 21% of homes were built before 1960, about 16 points below Illinois's 38%.
Housing in Lake County breaks down to 77% single-family homes, 16% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Lake County, about 64% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 75% of occupied homes in Lake County are owner-occupied.
Most homes in Lake County - 83% - are primarily heated with natural gas.
FEMA's National Risk Index lists tornado (Very High), strong wind (Very High) and inland flooding (Relatively High) as the leading hazards for Lake County.
Lake County had 2,078 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $345,700 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 75% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top hazards (FEMA National Risk Index) | Tornado (Very High), Strong Wind (Very High), Inland Flooding (Relatively High) |
| Active NFIP flood policies (county) | 2,078 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Towns and cities
- Antioch
- Bannockburn
- Beach Park
- Buffalo Grove
- Deer Park
- Deerfield
- Fox Lake
- Grayslake
- Green Oaks
- Gurnee
- Hainesville
- Hawthorn Woods
- Highland Park
- Highwood
- Kildeer
- Lake Barrington
- Lake Bluff
- Lake Forest
- Lake Villa
- Lake Zurich
- Libertyville
- Lincolnshire
- Lindenhurst
- Long Grove
- Mettawa
- Mundelein
- North Barrington
- North Chicago
- Old Mill Creek
- Park City
- Port Barrington
- Riverwoods
- Round Lake
- Round Lake Beach
- Round Lake Heights
- Round Lake Park
- Tower Lakes
- Vernon Hills
- Volo
- Wadsworth
- Wauconda
- Waukegan
- Winthrop Harbor
- Zion
Smaller communities
-
Indian Creek
- Median home value: $450,800
- Median year built: 2003
- Owner-occupied share: 92%
-
Third Lake
- Median home value: $361,500
- Median year built: 1985
- Owner-occupied share: 99%
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)