Grayslake, IL
Population 20,707 · Illinois
About Grayslake, IL
Grayslake is a mid-sized city located in Illinois with a population of 20,707 residents according to the latest US Census Bureau American Community Survey data. The median household income is $113,697 per year, which is 51% above the national median of $75,149. The median age of 35.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Grayslake features a median home value of $293,900, which is 20% above the national median of $244,900. This positions Grayslake in a moderately priced market relative to the rest of the country. Median monthly rent is $1,434, 23% above the national average of $1,163/month. Of the 8,268 total housing units, 76% are owner-occupied (6,056 units) and 24% are renter-occupied (1,883 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Grayslake shows an unemployment rate of 5.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Grayslake have an average one-way commute time of 27.4 minutes.
Education & Demographics
59.1% of Grayslake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 7.7% White, 2.7% Hispanic or Latino, 2.0% Black or African American, and 2.5% Asian residents, with 10.0% of the population being foreign-born.
Cost of Living in Grayslake, IL
Compared to national averages, Grayslake has a median household income of $113,697 (51% above the national median of $75,149). Home values average $293,900, which is 20% above the national median. Monthly rent at $1,434 is 23% above the US average of $1,163. Within Illinois, Grayslake's income is 51% above the state average of $75,072, and home values are 77% above the state median of $165,779.
Why Live in Grayslake, IL?
Grayslake offers a strong local economy with a median household income of $113,697, well above the national average, and a well-educated community where 59.1% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.6%, better than the national average.
Grayslake has a population of 20,707 with a median age of 35.9 years. Compare Grayslake with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Grayslake
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| East Moline | 20,837 | $63,328 | $135,300 | Compare |
| Park Forest | 20,898 | $62,305 | $106,200 | Compare |
| Libertyville | 20,493 | $162,270 | $499,300 | Compare |
| Dolton | 20,979 | $58,706 | $140,500 | Compare |
| Frankfort | 20,417 | $153,714 | $461,600 | Compare |
| South Holland | 21,016 | $87,378 | $201,200 | Compare |
| Montgomery | 21,205 | $96,985 | $270,700 | Compare |
| Geneva | 21,299 | $136,621 | $415,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Grayslake With Other Cities
Frequently Asked Questions about Grayslake
What is the population of Grayslake, IL?
The population of Grayslake, IL is 20,707 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Grayslake?
The median household income in Grayslake, IL is $113,697 per year, which is 51% above the national median of $75,149.
What is the median home value in Grayslake?
The median home value in Grayslake, IL is $293,900, which is 20% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Grayslake?
The median monthly rent in Grayslake, IL is $1,434, which is 23% above the national average of $1,163/month.
What is the unemployment rate in Grayslake?
The unemployment rate in Grayslake, IL is 5.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Grayslake, IL a good place to live?
Grayslake offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 20,707 and a median age of 35.9, the city appeals to a broad range of residents.
How educated is Grayslake, IL?
59.1% of residents in Grayslake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Grayslake?
Key cost-of-living indicators for Grayslake, IL: median home value is $293,900 (20% above national), median rent is $1,434/month, and median household income is $113,697. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Grayslake?
The poverty rate in Grayslake, IL is 5.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Grayslake, IL?
Grayslake's population is 7.7% White, 2.7% Hispanic or Latino, 2.0% Black or African American, 2.5% Asian, and 8.6% two or more races. 10.0% of residents are foreign-born.