Gurnee, IL 60031 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Gurnee, IL—60031

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$379,000

5.4% YoY Growth

Household Income

$114,000

22.6% YoY Growth

Days on Market

22.0% Shorter YoY

Home Price Forecast

0.7%

Median Rent

$2,000

2.3% YoY Growth

1-Bed Rent

$1,840

3.7% YoY Growth

2-Bed Rent

$2,150

0.9% YoY Growth

3-Bed Rent

$2,500

4.5% YoY Growth

Home Price Trends — Gurnee, IL

As of May '26, the median home price in Gurnee, IL is $379,000, with a year-over-year change of 5.4%. This indicates that home prices in Gurnee, IL are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$379,000	5.4%
Single Family	$396,000	5.6%
Condos	$242,000	3.9%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Gurnee, IL

As of July '25, Rentcast reports the average rent in Gurnee, IL is $2,090, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Gurnee, IL is studios: $1,740, 1-bedrooms: $1,840, 2-bedrooms: $2,160, 3-bedrooms: $2,550, 4-bedrooms: $3,260. The most common rental property sizes in Gurnee, IL are 1-bedroom and 2-bedroom, accounting for 40.1% and 39.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,000	$2,090
Studio Rent	$1,690	$1,740
1 Bed Rent	$1,840	$1,840
2 Bed Rent	$2,150	$2,160
3 Bed Rent	$2,500	$2,550
4 Bed Rent	$3,150	$3,260

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% of Rental Stock

Studio

4.5%

1 Bedroom

40.1%

2 Bedrooms

39.4%

3 Bedrooms

12.0%

4 Bedrooms

4.0%

Property Listings — Gurnee, IL

As of May '26, Realtor.com reports that the median days on market for a home in Gurnee, IL is 19. This is a decrease of -22.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$399,000	5.0%
Listing Count	95	-4.0%
Listings as % of Homes	0.5%	-4.0%
Days on Market	19	-22.0%

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Demographics — Gurnee, IL

As of the latest ACS Survey released in 2023, Gurnee, IL has a population of 37,200, which has remained stable by 0.1% over the past 5 years. Gurnee, 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 53.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	37,200	0.1%
% Under 18	20.6%	-14.2%
% Seniors	14.4%	20.0%
% WFH	17.8%	212.3%
% w/ College Degree	53.8%	8.0%

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As of the latest ACS Survey released in 2023, Gurnee, IL is a predominantly white area, with 61.4% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Gurnee, IL is hispanic, making up 15.8% of the population. Foreign-born residents account for 16.4% of the population in Gurnee, IL, and this percentage has increased by 3.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	61.4%	-2.2%
% Black	7.0%	-2.8%
% Hispanic	15.8%	21.5%
% Asian	12.8%	-1.5%
% Foreign Born	16.4%	3.8%

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Mortgage and Risk — Gurnee, IL

According to HUD data as of 2023, there were 776 mortgage originations in Gurnee, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Gurnee, 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	776
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Gurnee, IL

As of 2024, the percent of homes in Gurnee, IL under the Section 8 program is 15.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Gurnee, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	644
Total Units Section 8	524
% Rentals under Section 8	15.1%
% Occupied Section 8	91.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$100	$1,840	$1,740
2 Bedroom	-$180	$2,150	$1,970
3 Bedroom	$30	$2,500	$2,530
4 Bedroom	-$180	$3,150	$2,970

Gurnee, IL—60031

Key Metrics at a Glance

Home Price Trends — Gurnee, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gurnee, IL

% of Rental Stock

Property Listings — Gurnee, IL

Demographics — Gurnee, IL

Race and Ethnicity

Mortgage and Risk — Gurnee, IL

Mortgages

Rentals and Section 8 — Gurnee, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Gurnee, IL

Home Price to Income Ratio

Gurnee, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Wadsworth, IL

Waukegan, IL

Libertyville, IL

Waukegan, IL

North Chicago, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$379,000
Median Household Income	$114,000

Gurnee, IL—60031

Key Metrics at a Glance

Home Price Trends — Gurnee, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gurnee, IL

% of Rental Stock

Property Listings — Gurnee, IL

Demographics — Gurnee, IL

Race and Ethnicity

Mortgage and Risk — Gurnee, IL

Mortgages

Rentals and Section 8 — Gurnee, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Gurnee, IL

Home Price to Income Ratio

Gurnee, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Wadsworth, IL

Waukegan, IL

Libertyville, IL

Waukegan, IL

North Chicago, IL

Frequently Asked Questions

What is the average home price in Gurnee, IL 60031?

How have home prices in Gurnee, IL 60031 changed over the past year?

What is the home price projection for Gurnee, IL 60031?

What are the demographics of Gurnee, IL 60031?

How long does it take homes to sell in Gurnee, IL 60031?

What is the average rent price in Gurnee, IL 60031?