Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
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What to Know About
Life in Grayslake & Beyond
Grayslake shares many of the great qualities that make Illinois a desirable place to live.
Illinois is known for its rich cultural heritage, lively urban centers, and beautiful countryside landscapes. Explore the state's cultural heritage by visiting renowned museums such as the Lincoln Presidential Library and Museum, the Field Museum of Natural History, the Museum of Science and Industry, and the Art Institute of Chicago. The state also has a thriving theater and art scene, including the renowned Steppenwolf Theatre Company in Chicago. Illinois is also home to respected universities like the University of Illinois at Urbana-Champaign and Northwestern University.
Outdoor enthusiasts will love the scenic beauty of the Shawnee National Forest and the adventure-filled trails of the Starved Rock State Park. Sports fans will be in their element in Illinois, cheering on the Chicago Bears (NFL), Chicago Blackhawks (NHL), Chicago Cubs (MLB), Chicago White Sox (MLB), and Chicago Bulls (NBA). Experience famous attractions like the Willis Tower, Navy Pier, and the Lincoln Park Zoo. Also, enjoy the musicals and plays at Broadway-in-Chicago, festivals throughout the summer months, and culinary tours of the local restaurants.
With its vibrant cultural scene, exciting entertainment options, and top-notch educational opportunities, Illinois offers a high quality of life, making it a great place to live.
Rental Market Trends
Grayslake, IL
As of June 2026, Grayslake's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Grayslake's average rent is 7.1% ($121) lower than the Illinois average of $1,694 and 12.5% ($224) lower than the U.S. average of $1,797.
Average Rent
$1,573
Monthly ChangeMonth Over Month Change
5.5% ($82)
Yearly ChangeYear Over Year Change
49.9% ($1567)
Avg. Days on MarketAverage Days on Market
27
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,306 | 2.4% ($30) | 48.2% ($1217) |
| 2 Beds | $1,578 | 3.5% ($54) | 51.4% ($1671) |
| 3 Beds | $1,880 | 10% ($171) | 48.5% ($1771) |
| Nearby Cities | Average Rent | Avg. Rent vs. GrayslakeAverage Rent vs. Grayslake | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Round Lake | $2,429 | 54.4% ($856) | 28 days |
| Lake Villa | $1,616 | 2.7% ($43) | 29 days |
| Mundelein | $2,122 | 34.9% ($549) | 27 days |
| Wauconda | $1,363 | 13.4% ($210) | 25 days |
| Libertyville | $1,732 | 10.1% ($159) | 28 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Grayslake Rental Market FAQs
Explore rental prices, market trends, and availability in Grayslake, IL.
The average rent in Grayslake, IL is $1,573 per month.
Apartments in Grayslake typically rent for between $914 and $2,444 per month, with an average of $1,573 per month.
In Grayslake, the average rent for a 1-bedroom apartment is $1,306 per month, for a 2-bedroom apartment, $1,578 per month, and a 3-bedroom apartment is $1,880 per month.
The average rent in Grayslake is 12.5% ($224) lower than the national average of $1,797 per month.
The average rent in Grayslake has increased by 5.5% ($82) in the last month and decreased by 49.9% ($1,567) over the past year.
The rental market in Grayslake, IL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Grayslake, IL, the average rental stays on the market for approximately 27 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 4 rental properties available in Grayslake, IL.
Based on the current averages, a household would need an annual income of $63,120 to comfortably afford a 2-bedroom apartment in Grayslake.
