Total monthly cost of ownership
Cost to Own a Home in Round Lake Beach, Illinois
A $191,000 home here costs
$1,954per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $84,000 a year.
A standard mortgage calculator would have told you $1,050. The real number is $905 higher every month, 86% more than the payment most buyers budget for.
Compare Lake County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Round Lake Beach against Lake County and Illinois
| Measure | Round Lake Beach | Lake County |
|---|---|---|
| Median home value | $191,200 | $326,600 |
| Median property tax | $5,632 | $8,743 |
| Effective tax rate | 2.946% | 2.677% |
| Median gross rent | $1,382 | $1,434 |
| Population | 27,081 | 711,885 |
The weather behind that power bill
Round Lake Beach sits in Lake County, which averages a high of 83.5°F in its hottest month and a low of 16.3°F in its coldest, with 39.51" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 806 cooling and 6,366 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Lake County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Talk to someone who works this market
These are Round Lake Beach averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Round Lake Beach every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Round Lake Beach I already own here and may sell
Common questions
How much does it cost to own a home in Round Lake Beach?
A $191,000 home in Round Lake Beach, Illinois costs approximately $1,954 per month with 20% down at 7.32%. That is $1,050 principal and interest, $469 property tax, $75 homeowners insurance, $202 utilities and $159 set aside for maintenance.
What is the property tax rate in Round Lake Beach?
Round Lake Beach has an effective property tax rate of 2.946%, based on a median home value of $191,200 and median real estate taxes of $5,632. That is higher than the Lake County average of 2.677%.
What is the average home price in Round Lake Beach?
The median owner-occupied home value in Round Lake Beach, Illinois is $191,200, against $326,600 across Lake County.
Is it cheaper to rent or buy in Round Lake Beach?
Median gross rent in Round Lake Beach is $1,382 a month, against $1,954 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Round Lake Beach?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Round Lake Beach, Illinois at today's rate takes a household income of roughly $84,000 a year. That covers the full $1,954 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Round Lake Beach, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Illinois.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.