McHenry Co. Community Tops List of Best Places to Own Home in Illinois

Written by Shannon Antinori

Home ownership: It's part of the American dream.

And according a study by NerdWallet, if you're going to buy a house in Illinois, Huntley is one of the best places to do it.

The village was No. 1 on NerdWallet's list of "Best Places for Home Ownership in Illinois." Coming in at No. 2 was Plainfield while Oswego was listed as the No. 3 best place to own a home in the state. 

"With a homeownership rate of 93.5%, Huntley is among the fastest growing communities in the Chicago area and has the highest growth rate on our list," according to Nerdwallet.com. 

Also making the top ten list was Algonquin, at No. 7, and Lake in the Hills, at No. 9. 

According to the rankings, NerdWallet looked at three main questions:

• Are homes available?
• Can you afford to live there?
• Is the area growing?

NerdWallet looked at 121 places in Illinois, and towns were scored based on homeownership rate, selected monthly owner costs, median household income and population change from 2010-12.

Huntley's overall score was 93.8 while Algonquin received a score of 75.1 and Lake in the Hills received a score of 73.7. 

In selecting Huntley, Nerdwallet.com wrote: 

With a diverse economy made up of manufacturing, warehouse, service and health care organizations, Huntley’s top employers include Centegra Health System, Dean’s Dairy and Weber Stephens, a manufacturer of gas and charcoal grills. It is among the lowest-cost areas in the Midwest but has all the convenience of being within the Chicago area. Its taxes are also among the lowest in the Chicago area.
In selecting Algonquin, Nerdwallet.com wrote: 

This village takes pride in its use of sustainable practices. With its ECO-ALGONQUIN concept, the village boasts nature preserves, recycling, energy efficiency, protected natural areas and abundant park space, and it is recognized as a Tree City USA. Homeowner costs are only 26.6% of household income in Algonquin, the lowest in our top 10, and 88.3% of its residents own their homes. Its top employers are School District #300, which has 720 employees; Jewel-Osco, a grocery store chain that employs 410 people; and School District #158, which has 370 employees.
Other cities ranking in the top 10 best places to buy homes in Illinois include Romeville, Lockport and Tinley Park.

For Lake in the Hills, Nerdwallet.com wrote: 

A beautiful, natural place to live and work, Lake in the Hills lives up to its name. But what its name doesn’t say is how it’s conveniently located along the Randall Retail Corridor, with accessibility to metro areas like Elgin and Chicago. These factors contribute to its 91% homeownership rate. The top job segments in the village are manufacturing, health care, retail trade and government. Major employers include Costco Wholesale, with 150 employees; Boulder Ridge Country Club, with 120 employees; and Lowes Home Center, with 105 employees.

Other communities to make the top ten list include South Elgin, Romeoville, Lockport, Bartlett and Tinley Park. 

Click here to view the full rankings.

Do you agree with the rankings? Let us know in the comments section.