Cost of Living in Round Lake Park, IL
Population 7,833 · Illinois · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Round Lake Park a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $158,000. At 8.3%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, Round Lake Park sits roughly 25 miles northeast of Elgin. Median home values run roughly 37% lower than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Round Lake Park
The median home value in Round Lake Park is $157,900 — 48% below the national median of $305,000. Median rent runs $1,320/month, equal to than the national median of $1,314/month. The median household income of $57,486/year is 23% lower than the US median of $74,580. The local unemployment rate is 8.3%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Round Lake Park has a cost of living index of 71 versus the US average of 100, meaning it is 29% less expensive.
Round Lake Park has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Round Lake Park, IL?
Round Lake Park has a cost index of 71 (100 = national average). It is 29% below the national average.
What is average rent in Round Lake Park, IL?
The median gross rent in Round Lake Park is $1,320 per month based on 2023 Census data.
What is the average home price in Round Lake Park?
The median home value in Round Lake Park is $157,900 according to Zillow and Census data.
What is the median income in Round Lake Park?
The median household income in Round Lake Park is $57,486 per year (2023 ACS 5-year estimates).
What is the sales tax in Round Lake Park, IL?
The combined state and local sales tax rate in Round Lake Park is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Round Lake Park, IL affordable?
Yes, Round Lake Park is generally considered affordable, with a cost of living index of 71 — about 29% below the US national average of 100.
Round Lake Park at a Glance
- Population
- 7,833
- Median Income
- $57,486
- Home Value
- $157,900
- Median Rent
- $1,320/mo
- Unemployment
- 8.3%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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