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Homes & Apartments for Rent in Island Lake, IL

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What to Know About

Life in Island Lake & Beyond

Island Lake 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

Island Lake, IL

As of November 2026, Island Lake's rental market is stable, with rentals spending about 29 days on the market, about the same as in Illinois (29), and rents up 2.3% over the past year. Island Lake's average rent is 9.8% ($239) lower than the Illinois average of $2,439 and 8.1% ($164) higher than the U.S. average of $2,036.

Average Rent
$2,200
Monthly ChangeMonth Over Month Change
Increased0.26% ($6)
Yearly ChangeYear Over Year Change
Increased2.3% ($50)
Days on Market
29
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $2,029 Increased0.31% ($6) Increased5.0% ($97)
2 Beds $2,344 Increased0.23% ($5) Decreased1.5% ($36)
3 Beds $2,734 Increased0.12% ($3) Decreased1.1% ($31)
Nearby Cities Average Rent Avg. Rent vs. Island LakeAverage Rent vs. Island Lake Days on Market
Wauconda $2,396 Increased8.9% ($196) 29 days
Cary $2,326 Increased5.7% ($126) 28 days
McHenry $2,027 Decreased7.9% ($173) 29 days
Fox River Grove $2,634 Increased19.7% ($434) 29 days
Crystal Lake $2,500 Increased13.6% ($300) 28 days
Based on rentals advertised on RentalSource in and around Island Lake.
Frequently Asked Questions
Island Lake Rental Market FAQs

Explore rental prices, market conditions, and affordability in Island Lake, IL.

The average rent in Island Lake, IL is about $2,200 per month.
In Island Lake, the average rent is about $2,029 per month for a 1-bedroom home, about $2,344 for a 2-bedroom home and about $2,734 for a 3-bedroom home.
The average rent in Island Lake is 8.1% ($164) higher than the national average of $2,036 per month.
The rental market in Island Lake, IL is currently stable, with rentals spending about 29 days on the market, about the same as in Illinois (29), and rents up 2.3% over the past year.
Based on the current averages, a household would need an annual income of about $93,800 to comfortably afford a 2-bedroom home in Island Lake.
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