Market Overview
Home Prices in Round Lake Park, IL
The median home value in Round Lake Park, IL is $233,304 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.5% compared to a year ago and up 2.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Round Lake Park are priced43% below average. Round Lake Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Round Lake Park home values have risen by approximately31.7%, reflecting strong long-term appreciation in this market.
Price History
Round Lake Park Home Price Trend
City Comparison
Round Lake Park vs. National Median
At $233,304, homes in Round Lake Park cost 43% below the national median of $410,000. This makes Round Lake Park a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Round Lake Park?
20% Down Payment
$46,661
on $233,304
Monthly P&I
$1,217/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,546/mo
incl. taxes & insurance
Income Needed
$61,840
gross annual (30% rule)
10% Down Option
$23,330
+ PMI applies
Loan Amount (20% dn)
$186,643
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Round Lake Park, IL?
The median home value in Round Lake Park is $233,304 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.5% year-over-year.
How much have home prices changed in Round Lake Park?
Over the past year, home values in Round Lake Park have increased by 4.5%. Over five years, prices have risen approximately 31.7%.
How much do I need to earn to buy a home in Round Lake Park?
To comfortably afford the median home price of $233,304 with a 20% down payment ($46,661) at today's rates (6.8%), you'd need a gross annual income of approximately $61,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Round Lake Park compare to the national average home price?
The national median home value is approximately $410,000. At $233,304, homes in Round Lake Park are 43% below the national average.
What metro area is Round Lake Park part of?
Round Lake Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.