The typical owner-occupied home in Wonder Lake is worth about $252,200, 4% below the Illinois median of $263,300 and 24% below the national median of $332,700. Owners pay a median $6,129 a year in property taxes, about 2.43% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $94,655 a year, so the median home costs 2.7 times the median income (3.2 times for Illinois). 100% of occupied homes here are lived in by their owners, and 80% of those owners still have a mortgage.
Wonder Lake at a glance
| Wonder Lake | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $252,200 | $263,300 | $332,700 |
| Median property tax paid per year | $6,129 | $5,298 | $3,119 |
| Property tax as a share of value | 2.43% | 2.01% | 0.94% |
| Median household income | $94,655 | $83,390 | $80,734 |
| Homes lived in by their owners | 100% | 67% | 65% |
| Owner homes with a mortgage | 80% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,778 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1970 | 1971 | 1980 |
| Vacant homes | 4.7% | 7.7% | 10.1% |
| Population | 4,292 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Wonder Lake
At this week's average 30-year rate of 7.11%, buying the median Wonder Lake home of $252,200 with 20% down costs about $1,973 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,393, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $84,559 for the 20%-down payment. That payment is 25% of the median Wonder Lake household income of $94,655; at that income and 20% down, the 28% guideline points to a home of about $282,000.
| Down payment | $50,440 |
|---|---|
| Loan amount | $201,760 |
| Principal and interest | $1,357 |
| Property taxes (2.43% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $105 |
| PMI | $0 |
| Total per month | $1,973 |
Change the numbers in the calculator
| Down payment | $8,827 |
|---|---|
| Loan amount | $247,632 |
| Principal and interest | $1,666 |
| Property taxes (2.43% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $105 |
| FHA mortgage insurance | $112 |
| Total per month | $2,393 |
Change the numbers in the calculator
Questions about home buying in Wonder Lake
What is the median home value in Wonder Lake?
About $252,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wonder Lake?
Homeowners pay a median $6,129 a year, which is about 2.43% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Wonder Lake?
For the median home with 20% down at 7.11%, the payment is about $1,973 a month. Keeping that under 28% of gross income takes about $84,559 a year.
More about Wonder Lake
- Mortgage Refinance in Wonder Lake
- Debt Relief in Wonder Lake
- Home Equity Loans in Wonder Lake
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data