What is the cost of living in Island Lake, IL?
According to the most recent data on the cost of living, Island Lake has an overall cost of living index of 106, which is 1.1x higher than the national index of 100.
Compared to Illinois, Island Lake has a cost of living index that's 1.1x higher than Illinois's index of 98.
The standard of living in Island Lake ranks as #194 most affordable out of the 336 places we measured in Illinois. By definition, that implies Island Lake ranks as the #142 most expensive place in the Prairie State.
For more reading on life in Island Lake, check out:
Island Lake Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Island Lake. Here is how it fares on each of the criteria:
The Services index in Island Lake is 103.
The Groceries index in Island Lake is 100.
The Health index in Island Lake is 121.
The Housing index in Island Lake is 100.
The Transportation index in Island Lake is 100.
The Utilities index in Island Lake is 98.
| Living Expense | Island Lake | Illinois | National Average |
|---|---|---|---|
| Overall | 106 | 98 | 100 |
| Services | 103 | 99 | 100 |
| Groceries | 100 | 99 | 100 |
| Health | 121 | 96 | 100 |
| Housing | 100 | 101 | 100 |
| Transportation | 100 | 99 | 100 |
| Utilities | 98 | 101 | 100 |
Island Lake Cost Of Living Compared To Illinois Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Illinois, check out:
Protect your home budget Compare home warranties in Island Lake Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Island Lake, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Island Lake is $295,209.
The Median Rent in Island Lake is $1,874.
The Median Income in Island Lake is $103,156.
The Home Value To Income in Island Lake is 2.9x.
The Rent To Monthly Income in Island Lake is 0.22x.
| Statistic | Island Lake | Illinois | United States |
|---|---|---|---|
| Median Home Value | $295,209 | $285,735 | $332,700 |
| Median Rent | $1,874 | $1,274 | $1,413 |
| Median Income | $103,156 | $83,390 | $80,734 |
| Home Value To Income | 2.9x | 3.4x | 4.1x |
| Rent To Monthly Income | 0.22x | 0.18x | 0.21x |
Island Lake, IL Costs By Category
Detailed Island Lake Services costs vs. Illinois
| Item | Island Lake | Illinois |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Island Lake Groceries costs vs. Illinois
| Item | Island Lake | Illinois |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Island Lake Health costs vs. Illinois
| Item | Island Lake | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Island Lake Transportation costs vs. Illinois
| Item | Island Lake | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Island Lake Utilities costs vs. Illinois
| Item | Island Lake | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Island Lake SnackAbility
Cost Of Living In Cities Around Island Lake
The cost of living varies in the cities and towns around Island Lake. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 1.2x Island Lake.
Mount Prospect, IL has a cost of living index of 121, 1.1x Island Lake.
Buffalo Grove, IL has a cost of living index of 126, 1.2x Island Lake.
| City | Population | Cost Of Living | Vs. Island Lake |
|---|---|---|---|
| Arlington Heights, IL | 76,005 | 125 | 1.2x |
| Mount Prospect, IL | 55,472 | 121 | 1.1x |
| Buffalo Grove, IL | 42,891 | 126 | 1.2x |
| Vernon Hills, IL | 26,876 | 126 | 1.2x |
| Lake Zurich, IL | 19,832 | 122 | 1.2x |
| Deerfield, IL | 19,518 | 148 | 1.4x |
| Cary, IL | 17,923 | 109 | 1.0x |
| Lindenhurst, IL | 14,417 | 110 | 1.0x |
| Wauconda, IL | 14,027 | 106 | 1.0x |
| Hawthorn Woods, IL | 9,143 | 167 | 1.6x |
