Why Live in Lake Petersburg
Lake Petersburg, located just south of Petersburg, is a private lakeside community known for its exclusive access to the lake's recreational activities such as jet skiing, fishing, and swimming. The neighborhood features a mix of ranch-style homes from the 1960s and 70s, modern properties, and open lots, all with private docks and expansive lake views. Homes typically offer around 2,000 square feet of living space on lots larger than a quarter acre. Streets are gravel without sidewalks, adding to the rural, rustic charm. The Lake Petersburg Association, which all homeowners are part of, organizes community events like weekly bass fishing tournaments and a Fourth of July fireworks show. The association also manages the community's sewer system and enforces building and rental regulations. Nearby attractions include the Shambolee Golf Course and Lincoln's New Salem State Historic Site, offering outdoor activities and historical exploration. The community is about two miles from Petersburg, a small town with local businesses such as the Broadgauge entertainment venue, Hand of Fate brewery, and Mom + Pop's diner. For more extensive amenities, Springfield is 20 miles away, providing larger hospitals, more employers, and a regional airport. The PORTA Community Unit School District No. 202 serves local children, offering a range of academic programs in a close-knit environment. The crime rate in Lake Petersburg is lower than the national average, contributing to its appeal as a peaceful residential area.
Frequently Asked Questions
Is Lake Petersburg a good place to live?
Lake Petersburg is a good place to live. Lake Petersburg is considered very car-dependent and somewhat bikeable. Lake Petersburg is a destination neighborhood. It is sparse in population with 0.6 people per acre and a median age of 45. The average household income is $86,570 which is below the national average. College graduates make up 28% of residents. A majority of residents in Lake Petersburg are home owners, with 23.3% of residents renting and 76.7% of residents owning their home. A
local real estate agent serving Lake Petersburg can help you decide if this neighborhood is the right one for you. Learn more on our
Lake Petersburg neighborhood guide.
How much do you need to make to afford a house in Lake Petersburg?
The median home price in Lake Petersburg is $397,799. If you put a 20% down payment of $79,600 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,060 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $88K a year to afford the median home price in Lake Petersburg. The average household income in Lake Petersburg is $87K.
What are the best public schools in Lake Petersburg?
The best public schools that serve Lake Petersburg are:
What are the most popular zip codes in Lake Petersburg, Petersburg, IL?
What are the most popular neighborhoods near Lake Petersburg, Petersburg, IL?
Home Trends in Lake Petersburg, IL
On average, homes in Lake Petersburg, Petersburg sell after 25 days on the market compared to the national average of 70 days. The median sale price for homes in Lake Petersburg, Petersburg over the last 12 months is $209,495, up 3% from the median home sale price over the previous 12 months.
Median Sale Price
$209,495
Median Single Family Sale Price
$463,445
Median Townhouse Sale Price
$397,799
Median 2 Bedroom Sale Price
$475,000
Median 1 Bedroom Sale Price
$92,000
Average Price Per Sq Ft
$220
Number of Homes for Sale
5
Last 12 months Home Sales
2
Median List Price
$397,799
Median Change From 1st List Price
-1%
Median Home Sale Price YoY Change
3%