For Sale
For Rent
Find real estate listings
Find rental listings
Gages Lake Housing Information
| Index | Gages Lake | Illinois | National |
| Median home price | $206,300 | $174,800 | $184,700 |
| Median rent asked | $1,131 | $925 | $949 |
| Avg. people per household | 2.6 | 2.6 | 2.6 |
| Owner occupied households | 83.0% | 66.0% | 63.6% |
| Renter occupied households | 17.0% | 34.0% | 36.4% |
Gages Lake Home Affordability
Home affordability can be a very important factor when determining where to purchase real estate in Gages Lake, IL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Gages Lake, IL is $206,300 and the median household income is $94,144. This results in a home price to income ratio of 2.2x, which is 26% lower than the Illinois average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Gages Lake, IL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Gages Lake, IL.Nearby cities with low home prices
| City, State | Population | Home Price | National Avg. |
| Park City, IL | 7,402 | $27,900 | 85% |
| North Chicago, IL | 30,023 | $106,500 | 42% |
| Zion, IL | 24,195 | $116,800 | 37% |
| Waukegan, IL | 88,159 | $118,600 | 36% |
| Round Lake Park, IL | 7,989 | $120,000 | 35% |
| Gages Lake, IL | 10,041 | $206,300 | 12% |
Cities with similar population
| City, State | Population | Home Price | National Avg. |
| Troy, IL | 10,041 | $169,800 | 8% |
| Bonham, TX | 10,040 | $74,300 | 60% |
| Indianola, MS | 10,047 | $72,900 | 61% |
| Waverly, IA | 10,049 | $160,300 | 13% |
| Avon Park, FL | 10,052 | $61,300 | 67% |
| Gages Lake, IL | 10,041 | $206,300 | 12% |