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 Type | 0.40% |
| One Bedroom | 2.70% |
| Two Bedrooms | 22.90% |
| Three Bedrooms | 57.70% |
| Four Bedrooms | 14.80% |
| Five Bedrooms or more | 1.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.94 |
| Median year structure was built | 1990 |
| Median Value of occupied units | $144,300 |
| Median Price asked for vacant units | $162,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.2 |
| Median year structure was built | 1971 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 9.10% |
| Home Equity Loan | 12.20% |
| Simple Mortgage | 67.20% |
| Debt Free | 11.50% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 23.1% |
