How much do homeowners pay a month in Tower Lakes, IL?

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

Homeowners with a mortgage in Tower Lakes, IL pay a median of $3,066 (±$367) a month in selected owner costs (2020–2024 American Community Survey).

Owners without a mortgage pay $1,442 (±$222).

71.4% of owned homes carry a mortgage.

In Tower Lakes, the median monthly cost with a mortgage went from $3,085 in 2015–2019 to $3,066 in 2020–2024 (−0.6%).

Prices (CPI-U) rose 22.7% over the same years, so it fell after inflation as well.

Figures last updated on November 12, 2026.

With a mortgage: $3,066 (±$367)
Without a mortgage: $1,442 (±$222)
Owned with a mortgage: 71.4%

Monthly owner costs in Tower Lakes

Median selected monthly owner costs, estimate (90% margin of error)
	Tower Lakes	Lake County	Illinois	United States
With a mortgage	$3,066 (±$367)	$2,503 (±$39)	$1,987 (±$6)	$1,963
Without a mortgage	$1,442 (±$222)	$1,088 (±$17)	$792 (±$4)	$638
Owned homes with a mortgage	71.4% (±8.8 points)	63.9% (±0.7 points)	60.8% (±0.2 points)	60.6%
Median real estate taxes (a year)	$10,000 or more	$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 Tower Lakes, the median cost with a mortgage is higher than in 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, Tower Lakes ranks 24 of 70 places with a published estimate, from highest to lowest median monthly cost with a mortgage.

Statewide, it ranks 66 of 2,589.

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

How owner costs in Tower Lakes 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	$3,085 (±$259)	$3,066 (±$367)	−0.6%	Down after inflation
Median home value	$481,000 (±$27,032)	$510,300 (±$51,239)	+6.1%	Down 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 Tower Lakes

Nearest places with a published estimate, compared with Tower Lakes
Place	Distance	Median monthly cost with a mortgage	Compared with this place
Tower Lakes	—	$3,066 (±$367)	—
Lake Barrington	1.4 mi	$3,304 (±$381)	Not measurably different
North Barrington	2.0 mi	$3,984 (±$244)	Higher
Cuba Township	2.2 mi	$3,436 (±$191)	Not measurably different
Port Barrington	2.3 mi	$2,589 (±$190)	Lower
Wauconda	3.5 mi	$2,337 (±$426)	Lower
Fox River Grove	3.8 mi	$2,336 (±$243)	Lower
Wauconda Township	3.8 mi	$2,239 (±$200)	Lower
Lake Zurich	4.1 mi	$2,749 (±$88)	Not measurably different

Nearby places with a measurably lower figure: Port Barrington, IL ($2,589), Wauconda, IL ($2,337), Fox River Grove, IL ($2,336).

Nearby places with a measurably higher figure: North Barrington, IL ($3,984).

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
18	Libertyville	$3,324 (±$154)
19	Ela Township	$3,316 (±$114)
20	Lake Barrington	$3,304 (±$381)
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)

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

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 Tower Lakes

What is the average mortgage payment in Tower Lakes?

The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Tower Lakes, IL is $3,066 (±$367) a month, including taxes, insurance and utilities.

How much does it cost to own a paid-off home in Tower Lakes?

Owners without a mortgage in Tower Lakes pay a median of $1,442 (±$222) a month in taxes, insurance, utilities and fees.

Has the cost of owning a home in Tower Lakes gone up?

In Tower Lakes, the median monthly cost with a mortgage went from $3,085 in 2015–2019 to $3,066 in 2020–2024 (−0.6%).

Prices (CPI-U) rose 22.7% over the same years, so it fell after inflation as well.

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 Tower Lakes village, Illinois (place:75874, 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.