Housing costs in Island Lake?
A typical home costs
$241,200, which is 28.7% less expensive than the national average of
$338,100 and 0.2% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Island Lake costs
$1,790 per month, which is 42.1% more than the national average of
$1,260 and 21.8% more than the state average of
$1,400.
Can I afford Island Lake?
To live comfortably in Island Lake (zip 60042), Illinois, a minimum annual income of
$46,080 for a family, and
$62,400 for a single person is recommended.
What does A.I. say about Island Lake?
The cost of living in 60042 Island Lake, IL is relatively low compared to many other parts of the country. The median household income is around $71,000 and the median home value is just over $220,000. This makes living in the area an affordable option for many families looking to buy a home. Utilities are also fairly inexpensive and transportation costs are minimal due to its close proximity to Chicago and other major cities. In addition, there is no state income or sales tax which can further reduce the cost of living expenses. All these factors combined result in an attractive cost of living offering for those looking for more affordable housing options without sacrificing quality of life.