Highwood, Illinois Real Estate & Housing Market

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Highwood Housing Information

Index	Highwood	Illinois	National
Median home price	$350,600	$174,800	$184,700
Median rent asked	$1,122	$925	$949
Avg. people per household	2.6	2.6	2.6
Owner occupied households	41.4%	66.0%	63.6%
Renter occupied households	58.6%	34.0%	36.4%

Above, you will see a summary of real estate in Highwood, IL. On average, homes in Highwood, IL cost $350,600, a value that is 101% higher than the average in Illinois. In general terms, this results in Highwood, IL real estate being less affordable than Illinois real estate. On average, people who rent houses in Highwood, IL pay $1,122; this value is 21% higher than the average amount renters pay in Illinois. 41.4% of Highwood, IL residents own their own homes and, on average, each of the homes has 2.6 occupants. Highwood, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Highwood, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Highwood Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Highwood, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Highwood, IL’s median home price stands at $350,600 while $54,189 is the value of the average household income. The resulting home price to income ratio, which is 6.5x, differs from the Illinois average as the ratio is 119% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Highwood, IL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Highwood, 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%
Waukegan, IL	88,159	$118,600	36%
Round Lake Park, IL	7,989	$120,000	35%
Round Lake Beach, IL	27,936	$125,400	32%
Highwood, IL	5,377	$350,600	90%

Cities with similar population

City, State	Population	Home Price	National Avg.
Twin Lakes, CA	5,378	$659,000	257%
Breinigsville, PA	5,378	$270,000	46%
Goshen, NY	5,378	$300,900	63%
Bellingham, MA	5,376	$246,300	33%
Bright, IN	5,375	$167,900	9%
Highwood, IL	5,377	$350,600	90%

Source: The Highwood, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).