Community Corner
Number of Mortgage-Free Homes Low Lake in the Hills
Around 9.3 percent of Lake in the Hills homeowners and 16.5 percent of Algonquin homeowners owe nothing on their homes.
Communities with a large segment of senior citizens or high median incomes tend to have the highest percentage mortgage-free homes, according to Crain’s Chicago Business.
In Lake in the Hills, 9.3 percent of homeowners own their homes outright, which is a much lower rate than surrounding communities, such as Algonquin, where 16.5 percent of homeowners have paid off their mortgage; and Huntley, where 34.2 perent owe nothing on their mortgage, according to Crain's.
Here’s a look at other McHenry County communities:
Find out what's happening in Algonquin-Lake In The Hillswith free, real-time updates from Patch.
Community
% of Mortgage-Free Homes
Find out what's happening in Algonquin-Lake In The Hillswith free, real-time updates from Patch.
Crystal Lake
21.5%
Cary
13.6%
Algonquin
16.5%
Lake in the Hills
9.3%
Huntley
34.2%
McHenry
21.7%
Woodstock
18.8%
Bull Valley
30.1%
Harvard
13.2%
Related Coverage
- How Wealth Ranges by Neighborhood in Lake in the Hills
- How Wealth Ranges by Neighborhood in Algonquin
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