Why Live in Virginia Lake
Virginia Lake, a neighborhood in Palatine, Chicago, is characterized by its numerous lakes and ponds, providing a scenic backdrop for its diverse housing options. The area features a mix of single-family ranches, split-level homes, condos, and townhouses, many of which are situated around the neighborhood's bodies of water. The community is known for its multicultural population and family-friendly environment, with highly rated schools such as Virginia Lake Elementary School and Palatine High School. The neighborhood's educational institutions emphasize culturally responsive teaching, catering to its diverse student body.
Virginia Lake offers ample recreational opportunities with parks like Celtic Park and Sycamore Park, which feature soccer fields, playgrounds, tennis and pickleball courts, and a softball field. The Palatine Bike Trail runs through the neighborhood, connecting residents to nearby nature preserves like Deer Grove East, which offers hiking, mountain biking, and camping. The neighborhood's small retention ponds and larger Virginia Lake provide spaces for swimming and fishing.
For shopping and dining, Virginia Lake features two shopping centers with big-box stores such as Target, Aldi, and Walmart, as well as diverse dining options like Kosta’s Gyros and Thai House Restaurant. The neighborhood's proximity to Route 53 and Hicks Road ensures convenient access to Downtown Palatine and a 40-minute commute to Downtown Chicago. Additionally, the Palatine Metra Station offers an alternative for commuters traveling to the city. With a crime rate lower than the national average, Virginia Lake is a practical and appealing choice for families and individuals alike.
Frequently Asked Questions
Is Virginia Lake a good place to live?
Virginia Lake is a good place to live. Virginia Lake is considered car-dependent and somewhat bikeable. Virginia Lake is a suburban neighborhood with a crime score of 4, on par with the average neighborhood in the U.S. Virginia Lake has 7 parks for recreational activities. It is fairly dense in population with 13.6 people per acre and a median age of 36. The average household income is $83,773 which is below the national average. College graduates make up 36.8% of residents. A majority of residents in Virginia Lake are renters, with 61.9% of residents renting and 38.1% of residents owning their home. A
local real estate agent serving Virginia Lake can help you decide if this neighborhood is the right one for you. Learn more on our
Virginia Lake neighborhood guide.
Is Virginia Lake, IL a safe neighborhood?
Virginia Lake, IL is a safe neighborhood and is on par with the average neighborhood in the United States. It received a crime score of 4 out of 10.
How much do you need to make to afford a house in Virginia Lake?
The median home price in Virginia Lake is $599,000. If you put a 20% down payment of $119,800 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $3,100 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $133K a year to afford the median home price in Virginia Lake. The average household income in Virginia Lake is $84K.
What are the best public schools in Virginia Lake?
The best public schools that serve Virginia Lake are:
What are the best private schools in Virginia Lake?
The best private schools that serve Virginia Lake are:
What are the most popular zip codes in Virginia Lake, Palatine, IL?
What are the most popular neighborhoods near Virginia Lake, Palatine, IL?
Home Trends in Virginia Lake, IL
On average, homes in Virginia Lake, Palatine sell after 74 days on the market compared to the national average of 70 days. The median sale price for homes in Virginia Lake, Palatine over the last 12 months is $549,000, down 38% from the median home sale price over the previous 12 months.
Median Sale Price
$549,000
Median Single Family Sale Price
$1,105,000
Median Townhouse Sale Price
$320,000
Median 2 Bedroom Sale Price
$359,000
Median 1 Bedroom Sale Price
$449,000
Average Price Per Sq Ft
$297
Number of Homes for Sale
3
Last 12 months Home Sales
116
Median List Price
$599,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-38%