Housing data for Island Lake, IL
Island Lake, IL has an estimated 8,014 residents and 3,073 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a village in McHenry County.
17.3% of households rent.
The median gross rent is $1,874 a month.
Figures last updated on .
- Residents
- 8,014 (±53)
- Housing units
- 3,073 (±189)
- Households that rent
- 17.3%
- Median gross rent
- $1,874
- Residents since 2015–2019
- −0.3%
What stands out in Island Lake
Homes in buildings of 5 or more units: 1.9% (±1.7 points) in Island Lake, lower than in McHenry County (8.1%).
Median gross rent: $1,874 (±$208) in Island Lake, higher than in McHenry County ($1,401).
Households that moved in since 2020: 15.1% (±3.9 points) in Island Lake, lower than in McHenry County (19.6%).
Homes built before 1980: 29.8% (±6.4 points) in Island Lake, lower than in McHenry County (38.4%).
- Types of homes in Island Lake
- Median rent in Island Lake
- How long people stay in Island Lake
- Age of homes in Island Lake
Housing in Island Lake at a glance
- Median rent: $1,874 median gross rent a month
- Rent by bedrooms: $1,605 median gross rent, 2 bedrooms
- Rent burden: 49.4% of renters pay 30% or more of income
- Renters and owners: 17.3% of households rent
- Income and affordability: $103,156 median household income
- Home values: $262,500 median home value
- Homeowner costs: $1,951 median monthly cost with a mortgage
- Property taxes: $6,500 median real estate taxes a year
- Types of homes: 1.9% of homes are in buildings of 5 or more units
- Bedrooms: 83.4% of homes have 3 or more bedrooms
- Age of homes: 29.8% of homes were built before 1980
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 94.9% heat with utility gas
- Commute and cars: 31.9 minutes average trip to work
- Growth: −0.3% residents since 2015–2019
- How long people stay: 15.1% moved in since 2020
- Crowding and facilities: 1.1% of homes have more than 1 person per room
- Fair Market Rent: $2,540 Small Area FMR, 2 bedrooms (ZIP 60042)
Island Lake against McHenry County, its state and the nation
| Island Lake | McHenry County | Illinois | United States | |
|---|---|---|---|---|
| Residents | 8,014 (±53) | 312,591 (exact) | 12,694,798 (exact) | 334,922,499 |
| Housing units | 3,073 (±189) | 121,329 (±69) | 5,457,452 (±471) | 143,775,355 |
| Households that rent | 17.3% (±5.7 points) | 17.3% (±1.0 points) | 32.9% (±0.2 points) | 34.8% |
| Median gross rent | $1,874 (±$208) | $1,401 (±$41) | $1,274 (±$5) | $1,413 |
| Median household income | $103,156 (±$10,531) | $104,802 (±$2,178) | $83,390 (±$362) | $80,734 |
| Median home value | $262,500 (±$18,165) | $308,100 (±$3,743) | $263,300 (±$797) | $332,700 |
| Median real estate taxes (a year) | $6,500 (±$453) | $7,274 (±$94) | $5,298 (±$22) | $3,119 |
| Built before 1980 | 29.8% (±6.4 points) | 38.4% (±1.3 points) | 63.4% (±0.2 points) | 49.7% |
| Average commute | 31.9 minutes (±2.1) | 30.1 minutes (±0.4) | 27.8 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 98.6% (±1.6 points) | 95.4% (±0.5 points) | 90.8% (±0.1 points) | 91.0% |
| Median age of residents | 39.1 years (±2.2) | 40.7 years (±0.3) | 39.0 years (±0.1) | 38.9 years |
Island Lake covers 3.4 square miles of land, about 2,379 residents per square mile (Census Bureau Gazetteer).
How Island Lake has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 8,035 (±63) | 8,014 (±53) | −0.3% | Not a measurable change |
| Housing units | 3,267 (±175) | 3,073 (±189) | −5.9% | Not a measurable change |
| Median gross rent | $1,388 (±$98) | $1,874 (±$208) | +35.0% | No measurable change after inflation |
| Median home value | $171,100 (±$5,211) | $262,500 (±$18,165) | +53.4% | Up after inflation |
| Median household income | $83,292 (±$6,532) | $103,156 (±$10,531) | +23.8% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,548 (±$69) | $1,951 (±$115) | +26.0% | No measurable change after inflation |
| Median real estate taxes | $4,766 (±$247) | $6,500 (±$453) | +36.4% | Up after inflation |
| Households that rent | 18.6% (±3.8 points) | 17.3% (±5.7 points) | −1.3 percentage points | Not a measurable change |
| Rental vacancy rate | 10.1% (±8.8 points) | 0.0% (±7.2 points) | −10.1 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in McHenry County
Island Lake has no police department of its own in the FBI’s figures, so this is the figure for McHenry County as a whole.
In 2025, the police departments that report for McHenry County recorded 63 violent and 475 property crimes per 100,000 residents.
A county-wide figure describes the whole county, not this place; crime varies from one community to the next.
ZIP codes in Island Lake
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 60042 | 69% | 8,347 | $1,852 | $259,100 | $99,917 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Island Lake
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Wauconda Township | 1.8 mi | $1,566 | $289,400 | 20.3% |
| Holiday Hills | 1.9 mi | $1,850 | $220,600 | 8.8% |
| Port Barrington | 2.4 mi | $1,900 | $379,600 | 3.0% |
| Oakwood Hills | 2.9 mi | $1,886 | $282,300 | 8.5% |
| Wauconda | 3.3 mi | $1,371 | $278,600 | 24.0% |
| Prairie Grove | 3.6 mi | $1,917 | $467,600 | 3.8% |
| Nunda Township | 3.8 mi | $1,697 | $321,000 | 17.7% |
| Volo | 4.2 mi | $2,169 | $319,700 | 18.0% |
Places in Illinois most like Island Lake
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Nunda Township | $1,697 | $321,000 | $109,574 | 17.7% |
| Oswego Township | $1,738 | $316,700 | $114,047 | 14.9% |
| Montgomery | $1,984 | $299,500 | $103,734 | 20.7% |
| Lake Villa Township | $1,666 | $288,700 | $119,947 | 15.0% |
| Jackson Township (Will County) | $1,481 | $271,500 | $104,292 | 13.9% |
| Holiday Shores | $1,822 | $245,100 | $86,907 | 18.0% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Illinois.
HUD Fair Market Rent for Island Lake, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,678 | $1,780 | $2,011 | $2,586 | $2,954 |
HUD also publishes a Small Area Fair Market Rent for each ZIP code in the area; the Fair Market Rent page for this place lists its ZIP codes.
HUD income limits for Island Lake, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $25,550 | $42,550 | $68,050 |
| 2 people | $29,200 | $48,600 | $77,800 |
| 3 people | $32,850 | $54,700 | $87,500 |
| 4 people | $36,450 | $60,750 | $97,200 |
| 5 people | $39,400 | $65,650 | $105,000 |
| 6 people | $44,360 | $70,500 | $112,800 |
| 7 people | $50,040 | $75,350 | $120,550 |
| 8 people | $55,720 | $80,200 | $128,350 |
These are the limits HUD sets for its housing programs in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $121,500.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Island Lake
What is the average rent in Island Lake, IL?
The Census Bureau publishes the median rather than the average: the median gross rent in Island Lake is $1,874 (±$208) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How much is a one-bedroom apartment in Island Lake?
The median gross rent for a one-bedroom home in Island Lake, IL is $1,490 (±$312) a month (2020–2024 American Community Survey).
Are renters in Island Lake rent-burdened?
49.4% of renting households in Island Lake pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
How many renters are there in Island Lake?
Island Lake has an estimated 504 (±158) renting households, 17.3% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Island Lake?
The median household income in Island Lake is $103,156 (±$10,531) a year (2020–2024 American Community Survey).
What is the average home value in Island Lake, IL?
The Census Bureau publishes the median: $262,500 (±$18,165) for owner-occupied homes in Island Lake (2020–2024 American Community Survey).
Is Island Lake growing?
In Island Lake, the number of residents went from 8,035 in 2015–2019 to 8,014 in 2020–2024 (−0.3%), not a measurable change.
What ZIP codes are in Island Lake?
The ZIP code that covers Island Lake is 60042.
What is the median rent in ZIP code 60042?
The median gross rent in ZIP Code Tabulation Area 60042 is $1,852 (±$199) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Island Lake village, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Island Lake village, Illinois
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Island Lake village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Island Lake village, Illinois
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Island Lake village, Illinois
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Island Lake village, Illinois
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Island Lake village, Illinois
- HUD Fair Market Rents, fiscal year 2027: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Island Lake village, Illinois (place:37894, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .