$3,300 Per Month
- 4 Beds
- 2.5 Baths
- 2,344 Sq Ft
- House for Rent
1657 Fairport Dr Unit 13, Grayslake, IL 60030
1657 Fairport Dr Unit 13, Grayslake, IL 60030
Frequently Asked Questions
How much does it cost to rent a home in Grayslake, IL?
The median rent for a home in Grayslake, IL is $2,300 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Grayslake, IL?
To comfortably afford the median rent in Grayslake, IL, a household needs to earn roughly $92,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,300 per month in Grayslake, IL, renters typically need to show $6,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Grayslake, IL?
In Grayslake, IL, the price-to-rent ratio is 12.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Grayslake, IL are best for renting a home?
The best neighborhood for renting in Grayslake, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include South Libertyville and Southwest Waukegan, each with its own character and price range.
