At $2,317/mo, rent takes about 24% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,317 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
30% of the median household income ($113,972) is $2,849 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,530); a 4-bedroom is $2,970.
From Zillow's monthly rent index (ZORI) for Grayslake. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Grayslake, IL is majority owner-occupied, has a median income above the national average, 58.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Grayslake, IL has changed in 5 years
On the earnings side, the typical household in Grayslake, IL now reports about $113,972, up from $109,975 in 2021. The renter share has eased from 26.3% to 21.8%, with owner-occupied housing accounting for the remainder.
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Can you afford rent in Grayslake on your salary?
At $2,317/mo, how Grayslake rent compares to typical pay (30% rule).
Grayslake rent by bedroom count
Median rent for each apartment size in Grayslake. Click any size for full breakdown.
Tips for renters in Grayslake
Last updated: October 17, 2026
The median rent in Grayslake is $2,317/mo as of October 2026. A studio apartment averages $1,630/mo while a 2-bedroom runs $1,970/mo. One-bedroom apartments average $1,740/mo and 3-bedroom units go for $2,530/mo.
At 24% of local median household income ($113,972/yr), Grayslake ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
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How does Grayslake rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Grayslake?
At $2,317/mo, rent takes ~24% of Grayslake's median household income ($113,972/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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