Foreclosure Homes in Gages Lake, IL

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Gages Lake, IL Foreclosures

How much do homes sell for in Gages Lake, IL?
The average home price is currently $614,617.
In Gages Lake, IL, how many homes are available?
There are currently 10 active home listings available in Gages Lake.
What’s the average rental cost in Gages Lake, IL?
The average rental price in Gages Lake is $1,643.
What is the most expensive home in Gages Lake, Illinois?
The most expensive home sold in Gages Lake had a price of $3,864,700.
What is currently the cheapest priced home in Gages Lake, IL?
The cheapest home for sale in Gages Lake is priced at $156,988.

Home Value Estimator For Gages Lake, IL

There are currently 10 real estate properties in Gages Lake, IL, with a median automated valuation model (AVM) price of $243,007.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Gages Lake, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Gages Lake, IL, is $614,617.00, with the most expensive house in Gages Lake, IL, topping out at $3,864,700.00 and the cheapest home in Gages Lake, IL, clocking in at $156,988.00. In other words, there’s something for every potential homebuyer or savvy investor in Gages Lake, IL!

Rent Prices In Gages Lake, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Gages Lake, IL, is on a rollercoaster ride. The average rent price in Gages Lake, IL, is $1,643.00. Indeed, when looking to rent in Gages Lake, IL, you can expect to pay as little as $1,270.00 or as much as $2,300.00, with the average rent median estimated to be $1,340.00. The good news is that finding an affordable and desirable property to rent in Gages Lake, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Gages Lake, IL In 2024

Gages Lake is located in Lake, Illinois, with an estimated municipal population of 10,161 residents. All of the best foreclosed homes for sale in Gages Lake are located in the following zip code areas on 60030 60031. The estimated population per square kilometer (.62 miles) in Gages Lake is 1,317.

Cost Of Living In Gages Lake, IL

So, about how much do homes cost in Gages Lake? The most recent median value of resident-owned homes in Gages Lake is 232,185. An estimated 81.7 percent of households in Gages Lake own their homes, with an average family size of 3.18. The median household income in Gages Lake is 96,123, with46.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Gages Lake, the median commute time of resident workers (in minutes) is 31.5. And last, but certainly not least, are you looking for homes to rent in Gages Lake? If so, the average rent price paid by renters in Gages Lake is 1,449, according to recent statistics.

Diversity And Demographics In Gages Lake, Illinois

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Gages Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Gages Lake is 41.6, split between 51.7 percent male versus 48.3 female. The percentage of residents who report being married in Gages Lake is 54.2, with an average family size of 3.18.

The percentage of residents who report their race in Gages Lake is as follows:

White 84.9%
Black / African American 5.7%
Asian 4%
American Indian / Alaskan Native 0.1%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3%
Other 2.3%

Looking for family-friendly neighborhoods in and/or near Gages Lake? Or maybe you are searching for 55+ active adult communities in and/or near Gages Lake?

The percentage of residents who report their age in Gages Lake is as follows:

Under 10 11.4%
Aged 10-19 14.2%
20s 11.3%
30s 11.5%
40s 13.5%
50s 16.7%
60s 13.8%
70s 5.6%
80+ 2.1%

Best Schools In Gages Lake, Illinois

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Gages Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Gages Lake.

Pros And Cons Of Living In Gages Lake, Illinois

How do you know that living in -- or moving to -- Gages Lake is right where you need to be? Perhaps you grew up in Gages Lake or already live nearby; therefore, the decision to buy a home in Gages Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Gages Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Gages Lake:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Gages Lake.

Reasons To Move To Gages Lake, Illinois, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Gages Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Gages Lake, meanwhile, can field multiple offers from more qualified buyers.

Gages Lake, IL Foreclosures


Listing types in Gages Lake, IL

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