Housing in Island Lake, IL
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$266,000
Median List Price
$273,950
Price Per Sq Ft
$185
Days on Market
52
Active Inventory
12
Months of Supply
2.4
Seller's market
Zillow Home Value
$288,883
ZHVI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
40.0%
Off Market in 2 Weeks
50.0%
Sale-to-List Ratio
98.8%
Buyer's market
Market Activity
Source: RedfinHomes Sold
5
New Listings
8
Pending Sales
8
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$185
Median List $/SF
$231
Island Lake vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Island Lake is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$241,900
Median Rent
$1,855
Total Housing Units
3,045
Vacancy Rate
5.1%
Owner Occupied
81.7%
Renter Occupied
18.4%
Median Property Tax
$6,260
per year
Monthly Cost (w/ Mortgage)
$1,641
Housing Types
The current median sale price in Island Lake, IL is $266,000 according to Redfin data. Homes spend a median of 52 days on the market. 40.0% of homes sold above asking price. The market has 2.4 months of supply. The median price per square foot is $185. The median rent is $1,855 per month (Census ACS). About 81.7% of housing units are owner-occupied. The median year homes were built is 1989. There are 3,045 total housing units.