1

Studio Apartment for Rent in Round Lake, IL

Section Image
  • /13

    $1,250

    Total Monthly Price

    • Studio
    • 1 Bath
    • 740 Sq Ft
    • Condo for Rent

    35356 N Summit Place Unit LAKEFRONT Apartment/Cottage, Round Lake, IL 60073

    -- Enjoy swimming in clean waters off of YOUR private sand beach; fishing/ice fishing/ boating (rowboat available on-site). Enjoy nearby scenic bike trails; jogging trails; or just kick back and enjoy watching the Saturday morning sailboat races on your private dock or picnic table or bench. The view shown above is what YOU can wake up to every morning. FREE LAUNDRY facilities on-site; free

    35356 N Summit Place Unit LAKEFRONT Apartment/Cottage, Round Lake, IL 60073

Why Live in Round Lake

Round Lake in north-central Lake County, Illinois, is a small community founded in 1909 as an ice-cutting town on its namesake lake. With just under 18,500 residents, it is the second-largest of the Round Lake Area communities and has its own village government and identity. Home values here are generally more affordable than the Lake County median, and many longtime residents have been renovating older properties. Round Lake High School, which serves all four Round Lake Area communities, has a relatively high rating and features a Business Incubator Program where juniors and seniors work with mentors to develop products or services. Commuters use the Metra line for a roughly 90-minute ride to Chicago Union Station, and Pace Bus Route 570 stops throughout the community and connects to the College of Lake County about 5 miles away. Nippersink Forest Preserve sits in the middle of town and features 329 acres of oak woods, lakes, marshes, and 3 miles of trails, while the nearby Chain O’Lakes and Long Lake expand local water recreation features. Indoor activities center on the Robert W. Rolek Community Center, which also functions as a senior and child development center. Shopping and dining are limited in Round Lake itself, but the one-block downtown includes Twisted Burger and La Luz Bakery Panderia y Pasteleria, with more options in Round Lake Beach and Fox Lake. Residents also head about 5 miles southeast to the Lake County Fairgrounds for the annual Fair and year-round events.

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.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,800
Median Single Family Home Rent
$2,300
Median Townhouse Rent
$2,175
Median Condo Rent
$2,200
How to Rent a Home