Round Lake, IL

Average · 104

Illinois · Population 18,588 · Updated March 2026

$1,494
Median Rent / Month
$108,965
Median Income
$257,400
Median Home Value
$1,867
Owner Costs / Month

Affordability

How far your income goes in Round Lake

16.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$17,928
Annual Rent
$5,394
State Income Tax
$5,328
Property Tax (est.)

Cost of Living Overview

Round Lake has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 104 (where 100 equals the national median), Round Lake residents can expect to pay median rent of $1,494/month while earning a median household income of $108,965/year.

The median home value in Round Lake, IL is $257,400, with typical monthly owner costs around $1,867 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Round Lake.

Frequently Asked Questions

Common questions about living costs in Round Lake

What is the cost of living in Round Lake, IL?
The cost of living index in Round Lake, IL is 104 (US average = 100). Median monthly rent is $1,494, median household income is $108,965/year, and the median home value is $257,400.
Is Round Lake, IL affordable?
No, Round Lake is more expensive than the national average with a cost index of 104. The rent-to-income ratio is 16.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Round Lake, IL?
The median gross rent in Round Lake, IL is $1,494 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,928.
What is the median household income in Round Lake?
The median household income in Round Lake, IL is $108,965 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.