Home Insurance in Waukegan, Illinois
Homes in Waukegan carry a median value of $190,900 - 45% lower than the Lake County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Waukegan was built around 1967. About 40% of homes were built before 1960, about 18 points above Lake County's 21%.
The housing stock in Waukegan is 59% single-family homes and 28% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Waukegan, about 56% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Waukegan has an owner-occupancy rate of 50% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
73% of homes in Waukegan are primarily heated with natural gas.
Lake County had 2,078 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Very High). See the full Lake County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $190,900 |
|---|---|
| Median year built | 1967 |
| Owner-occupied share | 50% |
| Share of owner-occupied homes with a mortgage | 56% |
| 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
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)