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Lake Barrington

Learn about the people, housing, costs and businesses in Lake Barrington, Illinois

Median Home$575,172
Median Rent$2,151/month
Population5,080
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare4% professional services
Home Value Growth⬆⬆+11.5% over 2 years
Retirees28% of residentswell above average
Homeowners93% of occupied units
NotableHighly Educated39% bachelor's · 21% graduate · top 1% nationally
NotableHigh Incomes$152k/year · top 4% nationally
Lake Barrington
IL

Frequently Asked Questions

What are today's mortgage rates in Lake Barrington?

As of today, the 30-year fixed mortgage rate for Lake Barrington is approximately 6.854% (6.859% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lake Barrington?

The median home value in Lake Barrington is $575k. The median monthly rent is $2,151. Annual property taxes average $9k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Barrington?

Home values in Lake Barrington have increased 11.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lake Barrington?

Based on a typical all-in ownership cost of $2,749/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $118k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Barrington is $152k/year.

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What industries drive the economy in Lake Barrington?

The largest employment sectors in Lake Barrington are public administration (24%) and healthcare (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.