Algonquin, IL—60102
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Algonquin, IL
As of Oct '25, the median home price in Algonquin, IL is $397,000, with a year-over-year change of 4.4%. This indicates that home prices in Algonquin, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $397,000 | 4.4% |
| Single Family | $409,000 | 4.1% |
| Condos | $278,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $280,000 | 4.9% |
3 Bed | $349,000 | 3.9% |
4 Bed | $478,000 | 3.5% |
| 5 Bed | $545,000 | 3.0% |
% of Housing Stock
Rental Trends — Algonquin, IL
As of July '25, Rentcast reports the average rent in Algonquin, IL is $2,280, with a year-over-year rent change of 2.7%. Per bedroom, the median rent as of July '25 in Algonquin, IL is 1-bedrooms: $1,820, 2-bedrooms: $2,300, 3-bedrooms: $2,620, 4-bedrooms: $3,090. The most common rental property sizes in Algonquin, IL are 2-bedroom and 1-bedroom, accounting for 38.5% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,240 | $2,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,780 | $1,820 |
| 2 Bed Rent | $2,250 | $2,300 |
| 3 Bed Rent | $2,600 | $2,620 |
| 4 Bed Rent | $2,910 | $3,090 |
% of Rental Stock
Property Listings — Algonquin, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Algonquin, IL is 31. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $422,000 | -4.0% |
Listing Count | 133 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 31 | 0.0% |
Demographics — Algonquin, IL
As of the latest ACS Survey released in 2023, Algonquin, IL has a population of 32,300, which has decreased by -1.3% over the past 5 years. Algonquin, IL is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 42.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,300 | -1.3% |
% Under 18 | 20.6% | -11.2% |
% Seniors | 14.5% | 27.2% |
% WFH | 19.3% | 153.9% |
% w/ College Degree | 42.8% | -2.3% |
As of the latest ACS Survey released in 2023, Algonquin, IL is a predominantly white area, with 74.5% of the population identifying as white. The white population has shrunk by 9.7% in the last 5 years. The second most common race or ethnicity in Algonquin, IL is hispanic, making up 14.2% of the population. Foreign-born residents account for 12.1% of the population in Algonquin, IL, and this percentage has decreased by 2.4% 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 | 74.5% | -9.7% |
% Black | 2.1% | 61.5% |
% Hispanic | 14.2% | 105.8% |
% Asian | 5.5% | -30.4% |
% Foreign Born | 12.1% | -2.4% |
Mortgage and Risk — Algonquin, IL
According to HUD data as of 2023, there were 705 mortgage originations in Algonquin, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Algonquin, 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 | 705 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Algonquin, IL
As of 2024, the percent of homes in Algonquin, IL under the Section 8 program is 1.6%. 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 Algonquin, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 29 |
Total Units Section 8 | 29 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $370 | $1,780 | $2,150 |
| 2 Bedroom | $180 | $2,250 | $2,430 |
| 3 Bedroom | $520 | $2,600 | $3,120 |
| 4 Bedroom | $760 | $2,910 | $3,670 |
Affordability — Algonquin, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $397,000 |
| Median Household Income | $128,000 |