$2,800 Per Month
- 3 Beds
- 2.5 Baths
- 1,696 Sq Ft
- Apartment for Rent
533 N Red Deer Rd Unit 430302, Round Lake, IL 60073
533 N Red Deer Rd Unit 430302, Round Lake, IL 60073
Frequently Asked Questions
How much does it cost to rent a home in Round Lake, IL?
The median rent for a home in Round Lake, IL is $2,800 per month, though prices vary by neighborhood, size, and property type. As of September 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Round Lake, IL?
To comfortably afford the median rent in Round Lake, IL, a household needs to earn roughly $112,000 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 $2,800 per month in Round Lake, IL, renters typically need to show $8,400 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 Round Lake, IL?
In Round Lake, IL, the price-to-rent ratio is 9.7, 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.
