Total monthly cost of ownership
Cost to Own a Home in Round Lake Heights, Illinois
A $196,000 home here costs
$1,957per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,008. The real number is $949 higher every month — 94% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Round Lake Heights against Lake County and Illinois
| Measure | Round Lake Heights | Lake County |
|---|---|---|
| Median home value | $196,100 | $326,600 |
| Median property tax | $5,121 | $8,743 |
| Effective tax rate | 2.611% | 2.677% |
| Median gross rent | $1,435 | $1,434 |
| Population | 2,585 | 711,885 |
The weather behind that power bill
Round Lake Heights 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 $214 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
Common questions
How much does it cost to own a home in Round Lake Heights?
A $196,000 home in Round Lake Heights, Illinois costs approximately $1,957 per month with 20% down at 6.66%. That is $1,008 principal and interest, $426 property tax, $77 homeowners insurance, $282 utilities and $163 set aside for maintenance.
What is the property tax rate in Round Lake Heights?
Round Lake Heights has an effective property tax rate of 2.611%, based on a median home value of $196,100 and median real estate taxes of $5,121. That is lower than the Lake County average of 2.677%.
What is the average home price in Round Lake Heights?
The median owner-occupied home value in Round Lake Heights, Illinois is $196,100, against $326,600 across Lake County.
Is it cheaper to rent or buy in Round Lake Heights?
Median gross rent in Round Lake Heights is $1,435 a month, against $1,957 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Round Lake Heights — 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.