Land and home values in Waukegan, IL
Waukegan is a city in Lake County, Illinois, home to about 89,076 people. Residential land runs about $3.74 per sq ft, the typical home is worth about $230,000, and a 2-bedroom rents for about $1,550 a month, as of October 12, 2026.
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| Land: residential | $3.74 | per sq ft |
| Land: residential | $162,914 | per acre |
| Land: quarter-acre lot | $40,729 | 10,890 sq ft |
| Home: typical (median) | $230,000 | value |
| Home: entry-level | $176,000 | lower quartile |
| Home: upper-end | $271,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $1,380 | per month |
| Rent: 2-bedroom | $1,550 | per month |
| Rent: 3-bedroom | $1,990 | per month |
| Rent: 4-bedroom | $2,300 | per month |
| Gross yield, 2-bed | 8.1% | a year |
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Questions people ask
How much is land worth in Waukegan, IL?
Residential land in Waukegan, IL is about $3.74 per square foot, or $162,914 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $40,729. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Waukegan, IL?
The typical (median) home in Waukegan, IL is worth about $230,000, with entry-level homes around $176,000 and upper-end homes around $271,000, as of October 2026.
How much is rent in Waukegan, IL?
A 2-bedroom rents for about $1,550 a month in Waukegan, IL, a 1-bedroom about $1,380 and a 3-bedroom about $1,990 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.