| Index | Round Lake | Illinois | National |
| Cost of living | 106 | 98 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 121 | 95 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 99 | 99 | 100 |
| Lifestyle & Entertainment | 101 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 103 | 100 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Round Lake? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Round Lake stands at 106, making it 6% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
The cost of living in Round Lake closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Round Lake can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
When it comes to the cost of living in Round Lake, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 21% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Round Lake affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Round Lake, for instance, where the median home price falls 20% higher than the national average, and monthly rent rates are 23.5% higher than usual. Additionally, median income levels contribute to the equation, with Round Lake flaunting a median household income of $121,525, 49.4% higher than the national norm.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Round Lake, the transportation index is 1.5% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Round Lake, the groceries index is 1.6% lower than the national average.
The Round Lake cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $143,366 | $11,947 | $3,345 | $4,301 |
| Renters | $60,613 | $5,051 | $1,414 | $1,819 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Park City, IL | 7,894 | 82 | 18.2% |
| North Chicago, IL | 30,865 | 95 | 5.0% |
| Round Lake Park, IL | 8,005 | 95 | 5.3% |
| Waukegan, IL | 90,063 | 96 | 4.1% |
| Zion, IL | 24,329 | 96 | 3.7% |
| Round Lake, IL | 18,833 | 106 | 6.3% |
| City | Population | Cost of Living Index | National Avg. |
| Cudahy, WI | 18,834 | 94 | 5.6% |
| Marshfield, WI | 18,840 | 91 | 8.6% |
| Cameron Park, CA | 18,822 | 147 | 46.7% |
| San Carlos Park, FL | 18,854 | 111 | 11.0% |
| White Oak, OH | 18,862 | 93 | 7.1% |
| Round Lake, IL | 18,833 | 106 | 6.3% |
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