City-owned Homes And Land in Waukegan, IL

Current Market Conditions in Waukegan, IL

The real estate market in Waukegan has been steadily appreciating, with increased demand for single-family homes and multifamily units. The city's close proximity to Chicago and its waterfront properties make it an attractive option for homebuyers and investors alike. Recent trends indicate a move towards renovated older homes, catering to young professionals and families seeking character in their housing.

With medium home prices rising gradually, Waukegan has seen a broader interest from buyers looking for more affordable options compared to its neighboring cities. There's also a marked increase in interest for rental properties due to the city's growing employment opportunities in various sectors.

Rent Prices In Waukegan, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Waukegan, IL, is on a rollercoaster ride. The average rent price in Waukegan, IL, is $1,267.00. Indeed, when looking to rent in Waukegan, IL, you can expect to pay as little as $580.00 or as much as $4,320.00, with the average rent median estimated to be $1,250.00. The good news is that finding an affordable and desirable property to rent in Waukegan, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.