Fox Lake, IL—60041
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Fox Lake, IL
Home Price Trends — Fox Lake, IL
As of Oct '25, the median home price in Fox Lake, IL is $288,000, with a year-over-year change of 3.2%. This indicates that home prices in Fox Lake, 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 | $288,000 | 3.2% |
| Single Family | $289,000 | 3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $225,000 | 4.7% |
3 Bed | $294,000 | 3.9% |
4 Bed | $377,000 | 4.1% |
| 5 Bed | $454,000 | 5.1% |
% of Housing Stock
Rental Trends — Fox Lake, IL
As of July '25, Rentcast reports the average rent in Fox Lake, IL is $2,220, with a year-over-year rent change of 37.0%. Per bedroom, the median rent as of July '25 in Fox Lake, IL is 1-bedrooms: $1,220, 2-bedrooms: $2,400, 3-bedrooms: $2,820, 4-bedrooms: $3,000. The most common rental property sizes in Fox Lake, IL are 2-bedroom and 1-bedroom, accounting for 47.8% and 39.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,220 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,180 | $1,220 |
| 2 Bed Rent | $2,400 | $2,400 |
| 3 Bed Rent | $2,600 | $2,820 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Fox Lake, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Fox Lake, IL is 36. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $312,000 | -1.0% |
Listing Count | 26 | -6.0% |
| Listings as % of Homes | 0.9% | -6.0% |
Days on Market | 36 | 9.0% |
Demographics — Fox Lake, IL
As of the latest ACS Survey released in 2023, Fox Lake, IL has a population of 8,920, which has remained stable by 0.3% over the past 5 years. Fox Lake, IL is a moderately popular place for families, as children make up 23.7% of the population. The area has a moderately educated workforce, with 28.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,920 | 0.3% |
% Under 18 | 23.7% | 29.5% |
% Seniors | 14.3% | -19.7% |
% WFH | 7.3% | 5.8% |
% w/ College Degree | 28.6% | 12.2% |
As of the latest ACS Survey released in 2023, Fox Lake, IL is a predominantly white area, with 65.5% of the population identifying as white. The white population has shrunk by 22.3% in the last 5 years. The second most common race or ethnicity in Fox Lake, IL is hispanic, making up 22.6% of the population. Foreign-born residents account for 7.8% of the population in Fox Lake, IL, and this percentage has decreased by 1.3% 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 | 65.5% | -22.3% |
% Black | 4.8% | 1,500.0% |
% Hispanic | 22.6% | 91.5% |
% Asian | 2.2% | 144.4% |
% Foreign Born | 7.8% | -1.3% |
Mortgage and Risk — Fox Lake, IL
According to HUD data as of 2023, there were 111 mortgage originations in Fox Lake, IL, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Fox Lake, IL. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 111 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Fox Lake, IL
As of 2024, the percent of homes in Fox Lake, IL under the Section 8 program is 15.4%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Fox Lake, 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 | 142 |
Total Units Section 8 | 139 |
% Rentals under Section 8 | 15.4% |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,180 | $1,200 |
| 2 Bedroom | -$1,040 | $2,400 | $1,360 |
| 3 Bedroom | -$850 | $2,600 | $1,750 |
| 4 Bedroom | -$950 | $3,000 | $2,050 |
Affordability — Fox Lake, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $288,000 |
| Median Household Income | $91,600 |