Island Lake, IL vs South Elgin, IL

Island Lake, IL and South Elgin, IL have a very similar cost of living, with only a 2.5% difference in their overall index. Island Lake scores 112 while South Elgin scores 109 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 $1,619/month in South Elgin — a 15% difference. Interestingly, home values tell a different story: while South Elgin has cheaper rent, Island Lake actually has lower median home values ($241,900 vs $296,100).

Median household income in Island Lake is $98,125 compared to $123,744 in South Elgin (-20.7%). South Elgin 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 15.7% in South Elgin.

Climate-wise, both cities share similar average temperatures (50.8°F vs 49.7°F). South Elgin receives more rainfall at 33.2" per year compared to 32.3" in Island Lake.