Waukegan, IL — Momentum Score, Home Values & Best-For

All states·Illinois·Waukegan

Lake County · Chicago-Naperville-Elgin · population 88,570

First-time buyersInvestors
Waukegan, IL
Image: Wikipedia · Waukegan, Illinois
OverviewCost of livingMoving guide
View watchlist →
74
Rising
Momentum score · 0–100

Where Waukegan stands

At or near all-time high. home values up 6.6% in the last year. averaging 7.8% annual growth over 5 years.

Median home $239,865
1-year +6.6%
5-yr CAGR +7.8%
vs 5-yr peak +0.0%
Population -0.2%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-04$240k$96k$147k$198k$249k201620182020202220242026

Lifestyle scores

🚶
Walkability
52/100
Somewhat walkable
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
30/100
Minimal transit
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
82/100
Excellent for remote work
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$1,585/mo$1,073$1,381$1,690202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent145138100120140202220242026

Rent vs buy

Price-to-rent ratio: 12.6
Buy

At a 12.6 price-to-rent ratio, buying generally beats renting in Waukegan on a long-enough horizon. The headline math is that one year of mortgage payments approximates 12.6 years of rent — well below the 15+ threshold where ownership starts to dominate.

How the momentum score breaks down

methodology →
Home YoY
80 · w22%
Home 5-yr CAGR
78 · w22%
Distance from peak
90 · w18%
Population growth
42 · w16%
Rent YoY
64 · w12%
Home 10-yr CAGR
84 · w10%
Long thesis

Waukegan has averaged 7.8% annual appreciation over five years and the trend is still live (+6.6% in the last 12 months). When a momentum trade keeps working, the simplest explanation is usually correct: more people want in.

Short thesis

Waukegan's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.

About Waukegan

Waukegan is a city in Lake County, Illinois, with an estimated population of 88,570. It anchors the Chicago-Naperville-Elgin metro area. The median home value in Waukegan is $239,865 as of 2026-04, up 6.6% over the last 12 months. Over the last five years, home values have averaged +7.8% annual growth, with prices at or near the 5-year peak. Rents in Waukegan average $1,585 per month, roughly flat year-over-year (+2.9%). The composite momentum score is 74 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Trend still working: prices up 6.6% in the last 12 months — buyers are still chasing inventory.
●Affordable AND rising: median home $239,865 with positive recent direction — rare combination most of the country can’t offer.
●Healthy 5-year run: +7.8% annualized over 5 years, outpacing US inflation.
●Held the highs: currently +0.0% from the 5-year peak — this market refused to give back gains.

▼ Bear case

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Waukegan (Wikipedia)

Waukegan is a city in Lake County, Illinois, United States, and its county seat. Located 36 miles (58 km) north of Chicago, Waukegan is a satellite city within the greater Chicago metropolitan area.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorSamuel D. Cunningham, Jr (D)
Area24.47 sq mi
Elevation715 ft
Founded1829
MottoAn Illinois Arts-Friendly Community
Density3688.36/sq mi
Named for''(Fortress or Trading Post)''

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Lake County right now.

NWS active alerts (IL)Illinois Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Lake County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Waukegan

2 tracked · ranked by median home value
1Downtown Waukegan$217,972+4.3%
2South Sheridan$199,428+12.1%

Cities like Waukegan

Peoria, IL70 · RisingBelvidere, IL75 · RisingDeKalb, IL74 · RisingBuffalo Grove, IL70 · Rising

Run the numbers for Waukegan

ToolCan I afford Waukegan?Income → city shortlistToolROI on a Waukegan rentalCap rate, cash-on-cash, DSCRToolCompare Waukegan to anywhereSide-by-side up to 3 citiesToolWaukegan cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
33° / 18°
avg high / low
Summer (Jul)
85° / 64°
avg high / low
Sunny days/yr
189
~52% of year
Annual precip
38″ rain
22″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Very low
Tornado
High
Wildfire
Very low
Earthquake
Low
Flood
Moderate

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Local sports teams

Major professional teams the Chicago-Naperville-Elgin area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Waukegan listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local economy & environment

Humidity
71%
Humid climate
Median household income
$78,400
Illinois state median
Top industries (state-level)
FinanceManufacturingHealthcare

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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