Rent to own Homes in Round Lake, IL
Round Lake was originally a railroad center and resort town for employees of the Armour packing plant. Today, this charming lakeside village boasts a year-round population of 18,481. Round Lake's residents enjoy predictably chilly winters and balmy mild summers, with January highs around 29 and July highs in the low 80s. Located just 41 miles from Chicago, Round Lake has a thriving residential and business community, and is home to Grieve Corporation, an internationally-known equipment manufacturer.
Round Lake, IL is a great place for affordable rent-to-own homes! With a median household income of over $82,550 and a median rent of $1,171, the Round Lake, IL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Round Lake, IL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Round Lake, IL Property Resources
Rent to own Homes in Cities Near Round Lake, IL
- Antioch
- Bannockburn
- Bohners Lake
- Bristol
- Browns Lake
- Bull Valley
- Burlington
- Camp Lake
- Carpentersville
- Eagle Lake
- East Dundee
- Fox Lake
- Gages Lake
- Genoa City
- Grayslake
- Green Oaks
- Hainesville
- Hawthorn Woods
- Highland Park
- Highwood
- Holiday Hills
- Indian Creek
- Knollwood
- Lake Barrington
- Lake Catherine
- Lake in the Hills
- Lake Ivanhoe
- Lakemoor
- Lake Villa
- Lily Lake
- Lincolnshire
- Long Lake
- McCullom Lake
- Paddock Lake
- Palatine
- Pell Lake
- Port Barrington
- Powers Lake
- Richmond
- Rochester
- Round Lake
- Salem Lakes
- Solon Mills
- Sturtevant
- Trevor
- Twin Lakes
- Union Grove
- Volo
- Wilmot
- Winthrop Harbor
Neighborhoods in Round Lake, IL
Round Lake Beach Hillside rent to own homes Round Lake Beach Garden rent to own homes Remington Trails rent to own homes Round Lake View rent to own homes Round Lake Beach Woodland rent to own homes Lakewood Grove rent to own homes Madrona Village rent to own homes Valley Lakes rent to own homesPopular Zip Codes in Round Lake, IL
60073 rent to own homesBuying a Home in Round Lake, IL
Round Lake, IL is seeing rapid growth and Round Lake, IL's' housing market remains optimal with an average home price that is -2% below the 2024 national average. Round Lake, IL is part of Lake county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Lake is 2.19% which is above the national average, which is 0.99%.
Median Home Price in Round Lake, IL
Median Rent in Round Lake, IL
Enjoy Lakeside Living in Round Lake, Illinois
Rising home values! Over the past year, Round Lake home values have risen a whopping 8.6 percent, with the median selling price currently at $186,615. In the area of Seneca Trail, a huge four-bedroom, three-bath house can list for less than $200,000, while homes around Tomahawk Trail can list for less than $115,000. This make Round Lake a great place to invest in real estate.
Cheaper rents than Chicago! Round Lake median rent prices are $1,400, which makes rentals and rent to own homes significantly cheaper than in nearby Chicago. In the area of West Forest Avenue, a two-bedroom lists at less than $1,050, while in the neighborhood of West Chatham Lane, a modern three-bedroom townhouse can list for less than $1,450.
Great local restaurants! Dining is mostly casual here, with many locally-owned eateries serving up delicious signature dishes. Check out a local favorite, Rancho Nuevo, for fantastic huevos rancheros and enchiladas. Another winner is Iron Horse Grill, which specializes in homemade soups and country fried steak.
Fun and fitness! The Round Lake Sports Center features a regulation-size soccer field and volleyball/basketball court, as well as a challenging indoor climbing wall. For water lovers, the Aquatic Center has a public pool with affordable daily rates.
Parks for hiking, biking and playing! Located in the heart of town, Fairfield Park offers trails for hiking and biking, plus an excellent course for disc golf. Likewise, nearby Kingsbury Park is an urban oasis with a basketball court and a beautiful pond that's perfect for picnics.
The great outdoors! A favorite destination for locals and vacationers, Nippersink Forest Preserve is a magnificent nature sanctuary with wooded lakefront nature walks and forests teeming with wildlife. For more recreational fun just minutes from town, check out Kristof's Entertainment Center, an indoor-outdoor facility with go-karts, mini golf and a huge arcade.