Round Lake, IL—60073
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Round Lake, IL
As of Oct '25, the median home price in Round Lake, IL is $265,000, with a year-over-year change of 4.5%. This indicates that home prices in Round Lake, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $265,000 | 4.5% |
| Single Family | $273,000 | 4.6% |
| Condos | $223,000 | 6.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $134,000 | 2.3% |
2 Bed | $221,000 | 5.2% |
3 Bed | $271,000 | 4.6% |
4 Bed | $373,000 | 5.1% |
| 5 Bed | $366,000 | 4.6% |
% of Housing Stock
Rental Trends — Round Lake, IL
As of July '25, Rentcast reports the average rent in Round Lake, IL is $2,250, with a year-over-year rent change of 8.2%. Per bedroom, the median rent as of July '25 in Round Lake, IL is 1-bedrooms: $1,280, 2-bedrooms: $1,990, 3-bedrooms: $2,230, 4-bedrooms: $2,920. The most common rental property sizes in Round Lake, IL are 2-bedroom and 3-bedroom, accounting for 41.1% and 32.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,280 |
| 2 Bed Rent | $1,850 | $1,990 |
| 3 Bed Rent | $2,300 | $2,230 |
| 4 Bed Rent | $2,900 | $2,920 |
% of Rental Stock
Property Listings — Round Lake, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Round Lake, IL is 30. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $276,000 | 5.0% |
Listing Count | 151 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 30 | -6.0% |
Demographics — Round Lake, IL
As of the latest ACS Survey released in 2023, Round Lake, IL has a population of 62,000, which has remained stable by 0.5% over the past 5 years. Round Lake, IL is a popular place for families, as children make up 28.0% of the population. The area has a moderately educated workforce, with 26.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 62,000 | 0.5% |
% Under 18 | 28.0% | -5.1% |
% Seniors | 8.7% | 4.8% |
% WFH | 10.5% | 150.0% |
% w/ College Degree | 26.7% | 11.3% |
As of the latest ACS Survey released in 2023, Round Lake, IL is a predominantly hispanic area, with 44.6% of the population identifying as hispanic. The hispanic population has grown by 8.5% in the last 5 years. The second most common race or ethnicity in Round Lake, IL is white, making up 40.4% of the population. Foreign-born residents account for 24.6% of the population in Round Lake, IL, and this percentage has increased by 2.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 40.4% | -11.6% |
% Black | 4.5% | -28.6% |
% Hispanic | 44.6% | 8.5% |
% Asian | 6.6% | 22.2% |
% Foreign Born | 24.6% | 2.1% |
Mortgage and Risk — Round Lake, IL
According to HUD data as of 2023, there were 1050 mortgage originations in Round Lake, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Round Lake, IL. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,050 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Round Lake, IL
As of 2024, the percent of homes in Round Lake, IL under the Section 8 program is 14.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Round Lake, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 721 |
Total Units Section 8 | 623 |
% Rentals under Section 8 | 14.2% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $500 | $1,200 | $1,700 |
| 2 Bedroom | $70 | $1,850 | $1,920 |
| 3 Bedroom | $170 | $2,300 | $2,470 |
| 4 Bedroom | $0 | $2,900 | $2,900 |
Affordability — Round Lake, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $265,000 |
| Median Household Income | $95,500 |