Total monthly cost of ownership
Cost to Own a Home in Lake Zurich, Illinois
A $418,000 home here costs
$3,701per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,149. The real number is $1,552 higher every month — 72% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Zurich against Lake County and Illinois
| Measure | Lake Zurich | Lake County |
|---|---|---|
| Median home value | $418,300 | $326,600 |
| Median property tax | $9,093 | $8,743 |
| Effective tax rate | 2.174% | 2.677% |
| Median gross rent | $1,782 | $1,434 |
| Population | 19,727 | 711,885 |
The weather behind that power bill
Lake Zurich sits in Lake County, which averages a high of 83.5°F in its hottest month and a low of 16.3°F in its coldest, with 39.51" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 806 cooling and 6,366 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Lake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Common questions
How much does it cost to own a home in Lake Zurich?
A $418,000 home in Lake Zurich, Illinois costs approximately $3,701 per month with 20% down at 6.66%. That is $2,149 principal and interest, $757 property tax, $164 homeowners insurance, $282 utilities and $348 set aside for maintenance.
What is the property tax rate in Lake Zurich?
Lake Zurich has an effective property tax rate of 2.174%, based on a median home value of $418,300 and median real estate taxes of $9,093. That is lower than the Lake County average of 2.677%.
What is the average home price in Lake Zurich?
The median owner-occupied home value in Lake Zurich, Illinois is $418,300, against $326,600 across Lake County.
Is it cheaper to rent or buy in Lake Zurich?
Median gross rent in Lake Zurich is $1,782 a month, against $3,701 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Zurich — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Illinois.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.