Home prices
The median home in Island Lake is valued at $171,100. This is roughly $82,740 (32%) lower in comparison to its nearby areas.Compared to the entire nation it is approximately $46,400 (21%) lower, and compared to the city of Chicago it is about $86,900 (33%) lower.
Rents
The median monthly rent in Island Lake is $1,388. Compared to other places in this area it is roughly $95 (6%) lower.It is about $326 (30%) higher in comparison to the nation as a whole, and compared to the city of Chicago it is approximately $276 (24%) higher.
Nearby places
Port Barrington
Port Barrington is Island Lake's neighbor to the south. The housing prices there are a lot more expensive. The median home price in Port Barrington is $301,200, which works out to $130,100 (43%) higher than Island Lake. Its rents are a bit more expensive. In Port Barrington the median monthly rent is $1,716, which works out to $328 (19%) higher than Island Lake.
Holiday Hills
Holiday Hills is roughly 1 mile northwest from Island Lake. Its housing prices are a bit less expensive. The value of the median home in Holiday Hills is $149,200, which works out to $21,900 (14%) lower than Island Lake. The rent there is a bit more expensive. The median rent in Holiday Hills is $1,658 a month, which is $270 (16%) higher than Island Lake.
Oakwood Hills
Oakwood Hills is approximately 2 miles southwest of Island Lake. Its real estate prices are a bit more expensive. The median home value in Oakwood Hills is $221,100, which works out to $50,000 (22%) higher than Island Lake. The rent there is a bit less expensive. In Oakwood Hills the median monthly rent is $1,255, which works out to $133 (10%) lower than Island Lake.
Wauconda
Wauconda is roughly 2 miles east of Island Lake. Housing prices there are a bit more expensive. The median home cost in Wauconda is $226,600, which is $55,500 (24%) higher than Island Lake. Rent there is somewhat less expensive. The median rent in Wauconda is $1,166 per month, which is $222 (19%) lower than Island Lake.
Prairie Grove
Prairie Grove is about 3 miles west from Island Lake. The real estate prices there are significantly more expensive. The price of the median home in Prairie Grove is $371,100, which comes out to $200,000 (53%) higher than Island Lake. The rent there is somewhat more expensive. Prairie Grove's median monthly rent is $1,619, which works out to $231 (14%) higher than Island Lake.
