Vernon Hills, IL—60061
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Vernon Hills, IL
As of Oct '25, the median home price in Vernon Hills, IL is $436,000, with a year-over-year change of 4.7%. This indicates that home prices in Vernon Hills, 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 | $436,000 | 4.7% |
| Single Family | $509,000 | 3.9% |
| Condos | $246,000 | 5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $250,000 | 5.0% |
3 Bed | $447,000 | 4.4% |
4 Bed | $640,000 | 3.6% |
| 5 Bed | $857,000 | 3.8% |
% of Housing Stock
Rental Trends — Vernon Hills, IL
As of July '25, Rentcast reports the average rent in Vernon Hills, IL is $2,830, with a year-over-year rent change of 1.4%. Per bedroom, the median rent as of July '25 in Vernon Hills, IL is studios: $2,330, 1-bedrooms: $2,320, 2-bedrooms: $2,800, 3-bedrooms: $3,490, 4-bedrooms: $4,170. The most common rental property sizes in Vernon Hills, IL are 2-bedroom and 1-bedroom, accounting for 49.7% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,750 | $2,830 |
| Studio Rent | $2,380 | $2,330 |
| 1 Bed Rent | $2,330 | $2,320 |
| 2 Bed Rent | $2,980 | $2,800 |
| 3 Bed Rent | $3,500 | $3,490 |
| 4 Bed Rent | $3,700 | $4,170 |
% of Rental Stock
Property Listings — Vernon Hills, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Vernon Hills, IL is 30. 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $504,000 | 5.0% |
Listing Count | 86 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 30 | -22.0% |
Demographics — Vernon Hills, IL
As of the latest ACS Survey released in 2023, Vernon Hills, IL has a population of 27,900, which has increased by 3.3% over the past 5 years. Vernon Hills, IL is a moderately popular place for families, as children make up 23.7% of the population. The area has a highly educated workforce, with 66.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,900 | 3.3% |
% Under 18 | 23.7% | -9.9% |
% Seniors | 16.6% | 26.7% |
% WFH | 26.1% | 392.5% |
% w/ College Degree | 66.4% | 4.4% |
As of the latest ACS Survey released in 2023, Vernon Hills, IL is a predominantly white area, with 57.3% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Vernon Hills, IL is asian, making up 24.6% of the population. Foreign-born residents account for 32.6% of the population in Vernon Hills, IL, and this percentage has increased by 4.5% 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 | 57.3% | -3.0% |
% Black | 1.8% | -43.8% |
% Hispanic | 12.3% | 1.7% |
% Asian | 24.6% | 7.0% |
% Foreign Born | 32.6% | 4.5% |
Mortgage and Risk — Vernon Hills, IL
According to HUD data as of 2023, there were 437 mortgage originations in Vernon Hills, IL, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Vernon Hills, IL. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 437 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Vernon Hills, IL
As of 2024, the percent of homes in Vernon Hills, IL under the Section 8 program is 7.9%. 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. In Vernon Hills, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 318 |
Total Units Section 8 | 318 |
% Rentals under Section 8 | 7.9% |
% Occupied Section 8 | 89.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$220 | $2,330 | $2,110 |
| 2 Bedroom | -$600 | $2,980 | $2,380 |
| 3 Bedroom | -$440 | $3,500 | $3,060 |
| 4 Bedroom | -$110 | $3,700 | $3,590 |
Affordability — Vernon Hills, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $436,000 |
| Median Household Income | $122,000 |