How much do homeowners pay a month in Grandwood Park, IL?

Name: Homeowner costs in Grandwood Park, IL, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

Homeowners with a mortgage in Grandwood Park, IL pay a median of $2,854 (±$498) a month in selected owner costs (2020–2024 American Community Survey).

Owners without a mortgage pay $888 (±$202).

73.2% of owned homes carry a mortgage.

In Grandwood Park, the median monthly cost with a mortgage went from $2,072 in 2015–2019 to $2,854 in 2020–2024 (+37.7%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

Figures last updated on November 12, 2026.

With a mortgage: $2,854 (±$498)
Without a mortgage: $888 (±$202)
Owned with a mortgage: 73.2%

Monthly owner costs in Grandwood Park

Median selected monthly owner costs, estimate (90% margin of error)
	Grandwood Park	Lake County	Illinois	United States
With a mortgage	$2,854 (±$498)	$2,503 (±$39)	$1,987 (±$6)	$1,963
Without a mortgage	$888 (±$202)	$1,088 (±$17)	$792 (±$4)	$638
Owned homes with a mortgage	73.2% (±11.6 points)	63.9% (±0.7 points)	60.8% (±0.2 points)	60.6%
Median real estate taxes (a year)	$9,729 (±$1,152)	$8,923 (±$108)	$5,298 (±$22)	$3,119

Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.

In Grandwood Park, the median cost with a mortgage is not measurably different from Lake County ($2,503).

It is also higher than in Illinois ($1,987).

It is higher than the national figure ($1,963).

In Lake County, Grandwood Park ranks 27 of 70 places with a published estimate, from highest to lowest median monthly cost with a mortgage.

Statewide, it ranks 83 of 2,589.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How owner costs in Grandwood Park have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median owner cost with a mortgage	$2,072 (±$242)	$2,854 (±$498)	+37.7%	No measurable change after inflation
Median real estate taxes	$6,622 (±$768)	$9,729 (±$1,152)	+46.9%	Up after inflation
Median home value	$228,500 (±$25,645)	$330,500 (±$48,469)	+44.6%	No measurable change after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median monthly cost with a mortgage in places near Grandwood Park

Nearest places with a published estimate, compared with Grandwood Park
Place	Distance	Median monthly cost with a mortgage	Compared with this place
Grandwood Park	—	$2,854 (±$498)	—
Third Lake	1.8 mi	$2,588 (±$249)	Not measurably different
Warren Township (Lake County)	2.6 mi	$2,331 (±$82)	Lower
Lindenhurst	2.6 mi	$2,452 (±$106)	Not measurably different
Gages Lake	2.8 mi	$2,234 (±$109)	Lower
Venetian Village	3.0 mi	$1,708 (±$370)	Lower
Gurnee	3.1 mi	$2,431 (±$96)	Not measurably different
Lake Villa Township	4.0 mi	$2,275 (±$63)	Lower
Avon Township	4.2 mi	$1,952 (±$63)	Lower

Nearby places with a measurably lower figure: Warren Township (Lake County), IL ($2,331), Gages Lake, IL ($2,234), Venetian Village, IL ($1,708).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median monthly cost with a mortgage across Lake County, place by place

Rank	Place	Median monthly cost with a mortgage
21	Vernon Township	$3,277 (±$72)
22	Shields Township	$3,259 (±$230)
23	Indian Creek	$3,146 (±$212)
24	Tower Lakes	$3,066 (±$367)
25	Libertyville Township	$2,985 (±$143)
26	Highwood	$2,946 (±$1,120)
27	Grandwood Park	$2,854 (±$498)
28	Buffalo Grove	$2,839 (±$128)
29	Vernon Hills	$2,824 (±$104)
30	Lake Zurich	$2,749 (±$88)
31	Lake Villa	$2,667 (±$123)
32	Third Lake	$2,588 (±$249)
33	Fremont Township	$2,582 (±$125)

Showing 13 of 70 places in Lake County, ranked from highest to lowest.

Grandwood Park is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Grandwood Park

What is the average mortgage payment in Grandwood Park?

The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Grandwood Park, IL is $2,854 (±$498) a month, including taxes, insurance and utilities.

How much does it cost to own a paid-off home in Grandwood Park?

Owners without a mortgage in Grandwood Park pay a median of $888 (±$202) a month in taxes, insurance, utilities and fees.

Has the cost of owning a home in Grandwood Park gone up?

In Grandwood Park, the median monthly cost with a mortgage went from $2,072 in 2015–2019 to $2,854 in 2020–2024 (+37.7%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Grandwood Park CDP, Illinois (place:30900, in state:17).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.