These are the Most Affordable Places to Live in Lake County

These towns offer tons of perks for families, including a low cost of living.

Choosing where to raise a family can impact the way a child sees the world. 

Niche, a website offering rankings and statistics on towns, schools and colleges, recently released its 2024 Places with the Lowest Cost of Living in Lake County. It offers a look at the most affordable places for families in Lake County to call home based on a variety of factors including an area’s home value to income ratio, median rent, gas prices, grocery costs and more. 

Top 10 Most Affordable Places to Live in Lake County

Forest Lake 

  • Average home value: $312,500
  • Population: 1,344

This suburb of Chicago encompasses a 42-acre private lake, offering dues-paying residents swimming, fishing, non-motorized boating and family-fun activities.  


  • Average home value: $192,400
  • Population: 3,547

Hainesville is surrounded by green space and has good public schools, outdoor activities and employment options. 

Long Lake 

  • Average home value: $171,300
  • Population: 2,939

Nature centers and walking trails offer families plenty of outdoor space to explore in Long Lake. 

Round Lake Park 

  • Average home value: $151,100
  • Population: 7,778

The conveniently located Children’s Neighborhood Museum and Play Cloud Indoor Playground are big draws for families with little ones. 


  • Average home value: $683,900
  • Population: 4,133

Kildeer’s rural feel provides residents a tranquil place to raise a family. Schools are top rated; Lake Zurich High School and Adlai E. Stevenson High School are the two choices for high schools. 


  • Average home value: $164,400
  • Population: 89,435

With a downtown filled with diverse food options and access to the lakeshore along Illinois Beach State Park, Waukegan is appealing to new residents. 

Winthrop Harbor 

  • Average home value: $232,400
  • Population: 6,693

Winthrop Harbor is located next to North Dunes Nature Preserve and Spring Bluff Nature Preserve on Lake Michigan. The town’s North Point Marina is the largest on the Great Lakes. 

Third Lake 

  • Average home value: $318,400
  • Population: 1,214

The quiet, residential community of Third Lake has two lakes: Druce Lake and Third Lake. Families can use both for fishing, boating, swimming and ice skating.

Long Grove 

  • Average home value: $721,100
  • Population: 8,279

The historic downtown of Long Grove has restaurants, cafes, wine bars and more. 

Hawthorn Woods 

  • Average home value: $580,400
  • Population: 9,111

Hawthorn Woods is known for its excellent public schools, parks and recreation options.

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Amanda Rahn
Amanda Rahn
Amanda Rahn is a freelance journalist and copy editor. She is a graduate of Wayne State University’s journalism school and of the Columbia Publishing Course at Oxford University. Amanda is a lover of translated contemporary fiction, wines from Jura and her dog, Lottie.


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