Island Lake, IL vs Rolling Meadows, IL

Island Lake, IL and Rolling Meadows, IL have a very similar cost of living, with only a 3.8% difference in their overall index. Island Lake scores 112 while Rolling Meadows scores 108 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Island Lake is $1,855/month compared to $1,563/month in Rolling Meadows — a 19% difference. Interestingly, home values tell a different story: while Rolling Meadows has cheaper rent, Island Lake actually has lower median home values ($241,900 vs $299,700).

Median household income in Island Lake is $98,125 compared to $100,424 in Rolling Meadows (-2.3%). Rolling Meadows offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Island Lake spend roughly 22.7% of their income on rent, more than the 18.7% in Rolling Meadows.

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