RentDataNowRentDataNow
City Report · IL

Grayslake

Pop. 20,929·21st most expensive in Illinois·Rental market data updated monthly for Grayslake, IL
Median rent (all units)
$2,461/mo
Year-over-Year
Stable
Month-over-Month
+7.0%
vs US Median
+$496
Rising (Monthly)
Be the first to discuss Grayslake rents ↓
Most AffordableMost Expensive
Grayslake · $2,461
More expensive than 78% of US cities · National median $1,965/mo
Affordability
26% of income
AFFORDABLE
0%30% benchmark60%+

At $2,461/mo, rent takes about 26% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$98,000/yr
Local median income
$113,972/yr
Based on the 30%-of-income rule using Grayslake's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,630
1 BR
$1,740
2 BR
$1,970
3 BR
$2,530
4 BR+
$2,970
Research median
$1,970/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$29,532/yr
At $2,461/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +7.0% MoM), not inventory.
Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population
20,929
Median income
$113,972
Median age
37.2
Renters
21.8%
Age distribution
23.5%
23.9%
24.9%
13.7%
14.1%
Under 1823.5%
18–3423.9%
35–5424.9%
55–6413.7%
65+14.1%
Gender
51.6%
48.4%
Male51.6%
Female48.4%
Race & ethnicity
74.9%
White74.9%
Black8.6%
Hispanic10.2%
Asian5.2%
Other1%
Education (25+)
13.3%
25.3%
58.5%
No HS diploma3%
HS diploma13.3%
Some college25.3%
Bachelor's+58.5%
Housing tenure
78.2%
21.8%
Owner78.2%
Renter21.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Grayslake, IL has changed in 5 years

Income
$109,975 → $113,972
up 3.6%
Population
20,827 → 20,929
up 0.5%
Renter share
26.3% → 21.8%
-4.5 pts
Bachelor's+
59.7% → 58.5%
-1.2 pts
Median age
37.7 → 37.2
-0.5 yrs

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.

Community

Discussions about Grayslake

No discussions yet. Start the conversation.

View Grayslake rent history (2015–2026) →
Salary vs rent

Can you afford rent in Grayslake on your salary?

At $2,461/mo, how Grayslake rent compares to typical pay (30% rule).

By apartment size

Grayslake rent by bedroom count

Median rent for each apartment size in Grayslake. Click any size for full breakdown.

Local insights

Tips for renters in Grayslake

About renting in Grayslake, IL

Last updated: July 20, 2026

The median rent in Grayslake is $2,461/mo as of July 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 26% 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.

FAQ

Frequently asked questions

Is Grayslake an affordable city for renters?

Grayslake is considered affordable for renters. At $2,461/mo, rent takes approximately 26% of the local median household income ($113,972/yr). The standard benchmark is 30%. Grayslake falls comfortably within that range.

How much income do you need to rent in Grayslake?

To keep rent at or below 30% of gross income, you would need to earn at least $98,000/year (~$47/hour full-time) to afford the median rent of $2,461/mo in Grayslake. The local median household income is $113,972/yr, meaning the typical Grayslake household meets that threshold.

Is rent going up or down in Grayslake?

Rent in Grayslake has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Grayslake rent compare to other cities in Illinois?

Grayslake is one of the pricier cities in Illinois for rent, ranking #21 out of 142 tracked cities at $2,461/mo.

Which nearby cities are cheaper to rent in than Grayslake?

Several nearby cities have lower median rents than Grayslake ($2,461/mo): Gurnee ($1,965/mo), Round Lake Beach ($2,142/mo), Round Lake ($2,350/mo).

What percentage of Grayslake residents rent vs. own?

According to Census data, approximately 21.8% of Grayslake households are renters, while 78.2% are owner-occupied. Grayslake leans toward homeownership, which can mean a smaller rental inventory.

How does Grayslake rent compare to the national average?

Grayslake's median rent of $2,461/mo is $496 (25%) above the US national median of $1,965/mo. Within Illinois, it ranks #21 out of 142 tracked cities.
Income Affordability
26%
AFFORDABLE

At $2,461/mo, rent takes ~26% of Grayslake's median household income ($113,972/yr). The standard benchmark is 30%.

Grayslake 26%Benchmark 30%
State income tax4.95%
Run the Grayslake affordability calculator →
Lowest-rent ZIP codes in Grayslake
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Grayslake, IL

Recent submissions

Be the first to submit your rent for Grayslake.

Recent discussions

No discussions yet.