Cost of Living in Island Lake, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
155.6
100 = national avg
+55.6 vs national average
Living Wage (1 Adult)
$68,475
per year
Living Wage (Family of 4)
$161,850
per year
Cost Index by Category
Housing190.2
Food125.0
Transportation150.0
Healthcare120.0
Utilities133.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Island Lake is 155.6, which is 55.6% above the national average. Housing costs are above the national average at an index of 190.2. A single adult needs to earn approximately $68,475 per year to cover basic expenses.