The median home value in Lake Villa, IL is $315,000. This is higher than the county median home value of $300,000. The national median home value is $308,980. The average price of homes sold in Lake Villa, IL is $315,000. Approximately 73% of Lake Villa homes are owned, compared to 21% rented, while 6% are vacant. Lake Villa real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you're interested in, contact a Lake Villa real estate agent to arrange a tour today! Learn more about Lake Villa Real Estate.