Cost of Living in Round Lake, IL
Population 18,588 · Illinois · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Round Lake a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $257,000. At 6.4%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Round Lake sits roughly 25 miles northeast of Elgin — close enough that regional housing and labor patterns are shaped largely by the larger market. Housing prices track closely with Elgin's $252,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Round Lake
The median home value in Round Lake is $257,400 — 16% below the national median of $305,000. Median rent runs $1,494/month, 14% higher than the national median of $1,314/month. The median household income of $108,965/year is 46% higher than the US median of $74,580. The local unemployment rate is 6.4%, 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 has a cost of living index of 96 versus the US average of 100, meaning it is 4% less expensive.
🏠 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, IL?
Round Lake has a cost index of 96 (100 = national average). It is 4% below the national average.
What is average rent in Round Lake, IL?
The median gross rent in Round Lake is $1,494 per month based on 2023 Census data.
What is the average home price in Round Lake?
The median home value in Round Lake is $257,400 according to Zillow and Census data.
What is the median income in Round Lake?
The median household income in Round Lake is $108,965 per year (2023 ACS 5-year estimates).
What is the sales tax in Round Lake, IL?
The combined state and local sales tax rate in Round Lake is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Round Lake, IL affordable?
Round Lake is near the national average in terms of cost of living, with an index of 96 (100 = US average).
Round Lake at a Glance
- Population
- 18,588
- Median Income
- $108,965
- Home Value
- $257,400
- Median Rent
- $1,494/mo
- Unemployment
- 6.4%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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