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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:  

Community    

% of Mortgage-Free Homes

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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