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Advertise here →Island Lake, IL · Market Data
Island Lake, Illinois real estate market data.
Real estate market data for Island Lake, IL (McHenry County) — Census median home value $241,900, county listing prices up about 2.0% over the past year.
Island Lake, IL is in McHenry County, Illinois — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 8,023, with a median household income of $98,125. Census data puts Island Lake's median home value at $241,900 (all owner-occupied homes); McHenry County's current median listing price runs $419,000, up about 2.0% over the past year.
At a glance
Island Lake market snapshot
Population
8,023
Median Household Income
$98,125
Median Home Value (city)
$241,900
Median Listing Price (McHenry County)
$419,000
Median Gross Rent
$1,855/mo
Price Trend (YoY)
+2.0%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Island Lake different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Island Lake's median home value — across all owner-occupied homes, not just recent sales — at $241,900. Separately, McHenry County's current median listing price (via Realtor.com data, 2026-06-01) runs $419,000. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
McHenry County's FHFA house price index shows a 5.85% annual change in 2025.
Population & Income
Island Lake has an estimated population of 8,023 and a median household income of $98,125, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Island Lake's Census-reported median home value works out to about 2.5x the area's median household income, and median gross rent runs roughly 23% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Island Lake FAQ
What are home values like in Island Lake, IL?
The Census Bureau's American Community Survey puts Island Lake's median home value at $241,900. McHenry County's current median listing price runs $419,000, up about 2.0% over the past year.
What is the population of Island Lake, IL?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Island Lake's population at approximately 8,023.
What's the median rent in Island Lake, IL?
The Census ACS estimates median gross rent in Island Lake at approximately $1,855 per month.
What is the median household income in Island Lake, IL?
Census ACS data puts the median household income in Island Lake at approximately $98,125.
Is the Island Lake housing market growing?
McHenry County's FHFA house price index shows a 5.85% annual change in 2025.
Is Island Lake, IL affordable relative to income?
Census ACS data puts Island Lake's median home value at about 2.5 times the median household income, with median gross rent equal to roughly 23% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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