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 July 2025, Grayslake's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Grayslake's average rent is 80.1% ($1,397) higher than the Illinois average of $1,743 and 76.9% ($1,365) higher than the U.S. average of $1,775.

Average Rent

$3,140

Monthly ChangeMonth Over Month Change

24.4% ($615)

Yearly ChangeYear Over Year Change

43.4% ($950)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$2,523	No change	59.8% ($944)
2 Beds	$3,249	No change	59.8% ($1216)
3 Beds	$3,651	0% ($1)	59.8% ($1366)

Nearby Cities	Average Rent	Avg. Rent vs. GrayslakeAverage Rent vs. Grayslake	Avg. Days on MarketAverage Days on Market
Lake Villa	$1,525	51.4% ($1615)	29 days
Mundelein	$2,053	34.6% ($1087)	27 days
Wauconda	$1,543	50.9% ($1597)	25 days
Libertyville	$1,610	48.7% ($1530)	28 days
Gurnee	$1,821	42% ($1319)	30 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.

What is the average rent in Grayslake, IL?

The average rent in Grayslake, IL is $3,140 per month.

What is the rental price range for homes in Grayslake, IL?

Homes in Grayslake typically rent for between $1,766 and $4,746 per month, with an average of $3,140 per month.

What is the average rent for different bedroom sizes in Grayslake, IL?

In Grayslake, the average rent for a 1-bedroom home is $2,523 per month, for a 2-bedroom home, $3,249 per month, and a 3-bedroom home is $3,651 per month.

How do rent prices in Grayslake, IL compare with the national average?

The average rent in Grayslake is 76.9% ($1,365) higher than the national average of $1,775 per month.

How have rent prices in Grayslake, IL changed recently?

The average rent in Grayslake has increased by 24.4% ($615) in the last month and increased by 43.4% ($950) over the past year.

How competitive is the rental market in Grayslake, IL?

The rental market in Grayslake, IL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Grayslake, IL?

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.

How many rental properties are available in Grayslake, IL?

There is currently 1 rental property available in Grayslake, IL.

Can I afford to rent a home in Grayslake, IL?

Based on the current averages, a household would need an annual income of $129,960 to comfortably afford a 2-bedroom home in Grayslake.