60031 — Lake County, Illinois Market Snapshot
Housing market data for zip code 60031 in Lake County, Illinois. Updated monthly with median prices, days on market, and more.
Market Sales Data
109 sales in 2026 (year to date)
Median Sale Price
$385,000
Days to Sell
44
Homes Sold
109
Inventory
108
Sale-to-List
100.0%
New Listings
170
Price/SqFt
$188
Pending Sales
160
Conforming Loan Available
Most homebuyers in 60031 can comfortably use conventional financing. The median home price of $385,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
60031's market is balanced with homes taking an average of 44 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 60031 (100.0% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 60031 can comfortably use conventional financing. The median home price of $385,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 60031 are set at the county level.
2026 Loan Limits — Lake County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 60031
To purchase the median home at $385,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,100.
Monthly Payment
$3,100
Income Required
$132,846
Principal & Interest
$2,372/mo
Down Payment (5%)
$19,250
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 60031.
Estimated Monthly Payment
$2,533
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