Grayslake, IL—60030
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grayslake, IL
As of Oct '25, the median home price in Grayslake, IL is $338,000, with a year-over-year change of 4.1%. This indicates that home prices in Grayslake, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 4.1% |
| Single Family | $347,000 | 4.2% |
| Condos | $238,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | 3.8% |
3 Bed | $330,000 | 4.1% |
4 Bed | $443,000 | 5.5% |
| 5 Bed | $482,000 | 4.3% |
% of Housing Stock
Rental Trends — Grayslake, IL
As of July '25, Rentcast reports the average rent in Grayslake, IL is $2,520, with a year-over-year rent change of 3.3%. Per bedroom, the median rent as of July '25 in Grayslake, IL is 1-bedrooms: $1,470, 2-bedrooms: $2,080, 3-bedrooms: $2,700, 4-bedrooms: $3,300. The most common rental property sizes in Grayslake, IL are 2-bedroom and 1-bedroom, accounting for 44.9% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,550 | $2,520 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,460 | $1,470 |
| 2 Bed Rent | $1,980 | $2,080 |
| 3 Bed Rent | $2,600 | $2,700 |
| 4 Bed Rent | $3,350 | $3,300 |
% of Rental Stock
Property Listings — Grayslake, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Grayslake, IL is 31. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $358,000 | 8.0% |
Listing Count | 94 | -17.0% |
| Listings as % of Homes | 0.5% | -17.0% |
Days on Market | 31 | -2.0% |
Demographics — Grayslake, IL
As of the latest ACS Survey released in 2023, Grayslake, IL has a population of 35,600, which has decreased by -3.4% over the past 5 years. Grayslake, IL is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 49.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,600 | -3.4% |
% Under 18 | 20.6% | -5.5% |
% Seniors | 19.2% | 33.3% |
% WFH | 17.2% | 129.3% |
% w/ College Degree | 49.4% | 8.6% |
As of the latest ACS Survey released in 2023, Grayslake, IL is a predominantly white area, with 73.5% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Grayslake, IL is hispanic, making up 11.0% of the population. Foreign-born residents account for 10.2% of the population in Grayslake, IL, and this percentage has decreased by 9.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.5% | -4.8% |
% Black | 6.9% | 122.6% |
% Hispanic | 11.0% | -3.5% |
% Asian | 3.9% | -27.8% |
% Foreign Born | 10.2% | -9.7% |
Mortgage and Risk — Grayslake, IL
According to HUD data as of 2023, there were 735 mortgage originations in Grayslake, IL, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Grayslake, IL. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 735 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Grayslake, IL
As of 2024, the percent of homes in Grayslake, IL under the Section 8 program is 11.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Grayslake, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 344 |
Total Units Section 8 | 277 |
% Rentals under Section 8 | 11.0% |
% Occupied Section 8 | 91.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $1,460 | $1,740 |
| 2 Bedroom | -$10 | $1,980 | $1,970 |
| 3 Bedroom | -$70 | $2,600 | $2,530 |
| 4 Bedroom | -$380 | $3,350 | $2,970 |
Affordability — Grayslake, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $338,000 |
| Median Household Income | $105,000 |