salaryRent is lower than in 51% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (78.2%) are owned, so rentals can be hard to find. It is a highly educated city: 58.5% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $65,240 a year. That is $31 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 192 of 334 cities from cheapest to most expensive.
How much do households earn in Grayslake?
Share of households by yearly income. 44.2% of households earn $100,000 or more.
Rent by apartment size in Grayslake
| Size | Grayslake | U.S. average |
|---|---|---|
| 1 bedroom | $1,072 | $1,324 |
| 2 bedrooms | $1,733 | $1,509 |
| 3 bedrooms | $2,382 | $1,698 |
| 4 bedrooms | $2,310 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Grayslake overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Grayslake, so the Illinois figure is shown.
Taxes and bills in Grayslake
Life in Grayslake
Is it cheaper to rent or buy in Grayslake?
Renting is cheaper right now: about $517 a month less.
Owning assumes a typical $309,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,950 for the down payment.
Frequently asked questions
What is the average rent in Grayslake, IL?
Renting in Grayslake costs a median of about $1,631 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Grayslake?
To keep rent under 30% of income, you need about $65,240 a year, or $31 an hour at a full-time job.
Is Grayslake cheap or expensive?
Grayslake is rated Cheap: rent takes 15.9% of the typical household income of $122,919. It ranks 192nd cheapest of 334 Illinois cities we track.
How much are property taxes in Grayslake?
The median homeowner in Grayslake pays $10,000+ a year in property taxes, about 3.23% of the median home value.
Is Grayslake more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Grayslake?
The median home value in Grayslake is $309,500, about 2.5 times the typical yearly household income.
20,929 people live in Grayslake. Numbers are typical (middle) values.