Above, you will see a summary of real estate in Island Lake, IL. On average, homes in Island Lake, IL cost $154,900, a value that is 11% lower than the average in Illinois. In general terms, this results in Island Lake, IL real estate being more affordable than Illinois real estate. On average, people who rent houses in Island Lake, IL pay $1,349; this value is 46% higher than the average amount renters pay in Illinois. 82.9% of Island Lake, IL residents own their own homes and, on average, each of the homes has 2.5 occupants. Island Lake, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Island Lake, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.