Total monthly cost of ownership
Cost to Own a Home in Wauconda, Illinois
A $268,000 home here costs
$2,585per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $111,000 a year.
A standard mortgage calculator would have told you $1,461. The real number is $1,124 higher every month, 77% more than the payment most buyers budget for.
Compare Lake County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wauconda against Lake County and Illinois
| Measure | Wauconda | Lake County |
|---|---|---|
| Median home value | $268,300 | $326,600 |
| Median property tax | $7,136 | $8,743 |
| Effective tax rate | 2.660% | 2.677% |
| Median gross rent | $1,304 | $1,434 |
| Population | 14,010 | 711,885 |
The weather behind that power bill
Wauconda 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 $134 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
Talk to someone who works this market
These are Wauconda averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Wauconda every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wauconda I already own here and may sell
Common questions
How much does it cost to own a home in Wauconda?
A $268,000 home in Wauconda, Illinois costs approximately $2,585 per month with 20% down at 7.24%. That is $1,461 principal and interest, $594 property tax, $105 homeowners insurance, $202 utilities and $223 set aside for maintenance.
What is the property tax rate in Wauconda?
Wauconda has an effective property tax rate of 2.660%, based on a median home value of $268,300 and median real estate taxes of $7,136. That is lower than the Lake County average of 2.677%.
What is the average home price in Wauconda?
The median owner-occupied home value in Wauconda, Illinois is $268,300, against $326,600 across Lake County.
Is it cheaper to rent or buy in Wauconda?
Median gross rent in Wauconda is $1,304 a month, against $2,585 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Wauconda?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wauconda, Illinois at today's rate takes a household income of roughly $111,000 a year. That covers the full $2,585 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wauconda, 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.