Mundelein, IL—60060
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mundelein, IL
As of Oct '25, the median home price in Mundelein, IL is $373,000, with a year-over-year change of 4.8%. This indicates that home prices in Mundelein, 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 | $373,000 | 4.8% |
| Single Family | $388,000 | 5.1% |
| Condos | $264,000 | 6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $309,000 | 4.0% |
3 Bed | $343,000 | 4.6% |
4 Bed | $497,000 | 6.0% |
| 5 Bed | $618,000 | 4.4% |
% of Housing Stock
Rental Trends — Mundelein, IL
As of July '25, Rentcast reports the average rent in Mundelein, IL is $2,190, with a year-over-year rent change of 5.8%. Per bedroom, the median rent as of July '25 in Mundelein, IL is studios: $1,500, 1-bedrooms: $1,850, 2-bedrooms: $2,210, 3-bedrooms: $2,970, 4-bedrooms: $3,270. The most common rental property sizes in Mundelein, IL are 2-bedroom and 3-bedroom, accounting for 47.5% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,020 | $2,190 |
| Studio Rent | $1,430 | $1,500 |
| 1 Bed Rent | $2,000 | $1,850 |
| 2 Bed Rent | $2,100 | $2,210 |
| 3 Bed Rent | $2,950 | $2,970 |
| 4 Bed Rent | $2,850 | $3,270 |
% of Rental Stock
Property Listings — Mundelein, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mundelein, IL is 37. This is a decrease of -12.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $414,000 | -13.0% |
Listing Count | 143 | 51.0% |
| Listings as % of Homes | 1.0% | 51.0% |
Days on Market | 37 | -12.0% |
Demographics — Mundelein, IL
As of the latest ACS Survey released in 2023, Mundelein, IL has a population of 37,100, which has remained stable by -0.2% over the past 5 years. Mundelein, IL is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 42.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,100 | -0.2% |
% Under 18 | 22.5% | -2.2% |
% Seniors | 15.7% | 25.6% |
% WFH | 16.7% | 227.5% |
% w/ College Degree | 42.9% | -3.6% |
As of the latest ACS Survey released in 2023, Mundelein, IL is a predominantly white area, with 50.1% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Mundelein, IL is hispanic, making up 35.3% of the population. Foreign-born residents account for 27.8% of the population in Mundelein, IL, and this percentage has decreased by 4.8% 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 | 50.1% | -6.9% |
% Black | 1.8% | 5.9% |
% Hispanic | 35.3% | 10.3% |
% Asian | 10.0% | -2.0% |
% Foreign Born | 27.8% | -4.8% |
Mortgage and Risk — Mundelein, IL
According to HUD data as of 2023, there were 582 mortgage originations in Mundelein, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Mundelein, IL. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 582 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Mundelein, IL
As of 2024, the percent of homes in Mundelein, IL under the Section 8 program is 5.3%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Mundelein, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 216 |
Total Units Section 8 | 195 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $2,000 | $1,770 |
| 2 Bedroom | -$100 | $2,100 | $2,000 |
| 3 Bedroom | -$380 | $2,950 | $2,570 |
| 4 Bedroom | $170 | $2,850 | $3,020 |
Affordability — Mundelein, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $373,000 |
| Median Household Income | $110,000 |