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Island Lake, IL Real Estate


According to census data in the year 2000 there were 2,889 housing units in Island Lake. This represents a 74.6% growth from 1,655 in 1990.

Of those housing units, 2,889 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Island Lake is about 90.1%. Island Lake's vacancy rate, including seasonal lodging, is about 2.1%. Average household size is 2.87 people.

The majority of houses, apartments or condos in Island Lake were built after 1988.

Statistics

Housing Size

Housing Units by Size
Studio Type0.40%
One Bedroom2.70%
Two Bedrooms22.90%
Three Bedrooms57.70%
Four Bedrooms14.80%
Five Bedrooms or more1.50%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.94
Median year structure was built1990
Median Value of occupied units$144,300
Median Price asked for vacant units$162,500

Rented Homes, Apartments and Condos

Average Household Size2.2
Median year structure was built1971

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage9.10%
Home Equity Loan12.20%
Simple Mortgage67.20%
Debt Free11.50%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs23.1%