Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Island Lake area can be challenging. Home prices in Island Lake are now at a median cost of $213,601, lower than the Illinois average of $242,002.
The average cost of rent is $1,461/mo in Island Lake, primarily driven by the current value of real estate in the Island Lake area. While nearly 29.54% of residents own their homes outright in Island Lake, 19.50% rent.
Housing affordability isn’t just about home prices, though. The average household income in Island Lake is $7,051 per month. Households that rent pay about 20.72% of their income on rent here. Island Lake's most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Nearby Cities
- Holiday Hills, IL: equally priced homes
- Port Barrington, IL: higher priced homes
- Oakwood Hills, IL: higher priced homes
- Wauconda, IL: higher priced homes
- Prairie Grove, IL: higher priced homes
- Tower Lakes, IL: higher priced homes
- Lakemoor, IL: equally priced homes
- Volo, IL: equally priced homes
- Cary, IL: higher priced homes
- Lake Barrington, IL: higher priced homes
Cities with Similar Populations
- East Lyme, CT: higher priced homes
- Effingham, SC: less expensive homes
- Rutland, MA: higher priced homes
- Edgewood, KY: equally priced homes
- Rustburg, VA: less expensive homes
- Edenton, NC: less expensive homes
- Rushville, IN: less expensive homes
- Rural Hall, NC: less expensive homes
- Riverside, CT: higher priced homes
- Rumford, RI: higher priced homes
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