Safe Rate Local
Learn about the people, housing, costs and businesses in Island Lake, Illinois
Real local data across mortgage, insurance, natural hazard, and place.
FHA, VA, Conventional & Jumbo · Purchase & Refi rates in Island Lake.
True all-in cost — P&I, taxes, insurance & utilities for homes in Island Lake.
Find and compare lenders active near Island Lake.
FEMA flood zones and flood insurance estimates for Island Lake.
Seismic risk and earthquake insurance estimates for Island Lake.
Wildfire exposure and insurance estimates for Island Lake.
As of today, the 30-year fixed mortgage rate for Island Lake is approximately 6.999% (7.008% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.
View current rates for Island LakeThe median home value in Island Lake is $275k. The median monthly rent is $1,756. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.
Home values in Island Lake have increased 18.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.
Based on a typical all-in ownership cost of $1,654/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $71k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Island Lake is $98k/year.
Calculate your buying powerThe largest employment sectors in Island Lake are public administration (21%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.