Home Insurance in Grayslake, Illinois
The median home value in Grayslake is $309,500, 10% lower than the Lake County median.
The typical home in Grayslake was built around 1994. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 12% of homes were built before 1960, about 9 points below Lake County's 21%.
In Grayslake, the housing stock is 78% single-family homes and 18% apartments in buildings with 5+ units.
About 71% of owner-occupied homes in Grayslake have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 78% of occupied homes in Grayslake are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Grayslake, 85% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Grayslake? FEMA's National Risk Index points to tornado (Very High) in Lake County and Lake County had 2,078 active NFIP flood policies as of September 2026. See the full Lake County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $309,500 |
|---|---|
| Median year built | 1994 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Lake County | 2,078 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
- Hainesville
- Round Lake Park
- Round Lake
- Round Lake Beach
- Mundelein
- Round Lake Heights
- Libertyville
- Lindenhurst
Sources
Data last updated: 2026-09-29
- 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)