Elmwood Park, IL vs Island Lake, IL

Elmwood Park is moderately more affordable than Island Lake, with a 9.1% lower cost of living index. Elmwood Park scores 102 compared to 112 for Island Lake, where the US average is 100. This difference means residents of Island Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elmwood Park is $1,295/month compared to $1,855/month in Island Lake — a 30% difference. Interestingly, home values tell a different story: while Elmwood Park has cheaper rent, Island Lake actually has lower median home values ($241,900 vs $325,000).

Median household income in Elmwood Park is $84,121 compared to $98,125 in Island Lake (-14.3%). While Island Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood Park spend roughly 18.5% of their income on rent, less than the 22.7% in Island Lake.

Climate-wise, both cities share similar average temperatures (51.3°F vs 50.8°F). Elmwood Park receives more rainfall at 37.9" per year compared to 32.3" in Island Lake.