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Wonder Lake

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

Median Home$246,990
Median Rent$1,386/month
Population4,122
Leading IndustriesWholesale Trade · Transportation · Retail14% wholesale trade
Home Value Growth⬆⬆+14.9% over 2 years
Family-Friendly25% of residentsslightly above average
Homeowners90% of occupied units
NotableHigh Incomes$98k/year · top 18% nationally
NotableVeteran Community9% of residents · top 22% nationally
Wonder Lake
IL

Frequently Asked Questions

What are today's mortgage rates in Wonder Lake?

As of today, the 30-year fixed mortgage rate for Wonder Lake is approximately 7.043% (7.053% 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 Wonder Lake?

The median home value in Wonder Lake is $247k. The median monthly rent is $1,386. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Wonder Lake?

Home values in Wonder Lake have increased 14.9% 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 Wonder Lake?

Based on a typical all-in ownership cost of $1,594/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $68k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Wonder Lake is $98k/year.

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What industries drive the economy in Wonder Lake?

The largest employment sectors in Wonder Lake are retail (18%) and public administration (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.