Round Lake Park, IL
Population 7,833 · Illinois
About Round Lake Park, IL
Round Lake Park is a small town located in Illinois with a population of 7,833 residents according to the latest US Census Bureau American Community Survey data. The median household income is $57,486 per year, which is 24% below the national median of $75,149. The median age of 46.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Round Lake Park features a median home value of $157,900, which is 36% below the national median of $244,900. This positions Round Lake Park in a moderately priced market relative to the rest of the country. Median monthly rent is $1,320, 13% above the national average of $1,163/month. Of the 3,351 total housing units, 86% are owner-occupied (2,659 units) and 14% are renter-occupied (416 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Round Lake Park shows an unemployment rate of 8.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 11.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Round Lake Park have an average one-way commute time of 32 minutes.
Education & Demographics
16.3% of Round Lake Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 36.4% White, 4.6% Hispanic or Latino, 4.5% Black or African American, and 3.9% Asian residents, with 22.9% of the population being foreign-born.
Cost of Living in Round Lake Park, IL
Compared to national averages, Round Lake Park has a median household income of $57,486 (24% below the national median of $75,149). Home values average $157,900, which is 36% below the national median. Monthly rent at $1,320 is 13% above the US average of $1,163. Within Illinois, Round Lake Park's income is 23% below the state average of $75,072, and home values are 5% below the state median of $165,779.
Why Live in Round Lake Park, IL?
Round Lake Park offers affordable housing with a median home value of $157,900, below the US average of $244,900, and a low poverty rate of 11.5%, better than the national average.
Potential considerations include median household income ($57,486) that falls below the national average. However, Round Lake Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Round Lake Park has a population of 7,833 with a median age of 46.4 years. Compare Round Lake Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Round Lake Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Princeton | 7,829 | $57,682 | $131,300 | Compare |
| West Dundee | 7,867 | $104,750 | $342,900 | Compare |
| Broadview | 7,898 | $60,139 | $240,600 | Compare |
| South Beloit | 7,930 | $81,836 | $160,800 | Compare |
| Lincolnshire | 7,937 | $179,735 | $625,800 | Compare |
| Silvis | 7,939 | $67,569 | $161,300 | Compare |
| Island Lake | 8,023 | $98,125 | $241,900 | Compare |
| Oak Brook | 8,028 | $171,123 | $867,900 | 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 Round Lake Park With Other Cities
Frequently Asked Questions about Round Lake Park
What is the population of Round Lake Park, IL?
The population of Round Lake Park, IL is 7,833 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Round Lake Park?
The median household income in Round Lake Park, IL is $57,486 per year, which is 24% below the national median of $75,149.
What is the median home value in Round Lake Park?
The median home value in Round Lake Park, IL is $157,900, which is 36% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Round Lake Park?
The median monthly rent in Round Lake Park, IL is $1,320, which is 13% above the national average of $1,163/month.
What is the unemployment rate in Round Lake Park?
The unemployment rate in Round Lake Park, IL is 8.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Round Lake Park, IL a good place to live?
Round Lake Park offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 7,833 and a median age of 46.4, the city appeals to established professionals and retirees.
How educated is Round Lake Park, IL?
16.3% of residents in Round Lake Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Round Lake Park?
Key cost-of-living indicators for Round Lake Park, IL: median home value is $157,900 (36% below national), median rent is $1,320/month, and median household income is $57,486. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Round Lake Park?
The poverty rate in Round Lake Park, IL is 11.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Round Lake Park, IL?
Round Lake Park's population is 36.4% White, 4.6% Hispanic or Latino, 4.5% Black or African American, 3.9% Asian, and 1.8% two or more races. 22.9% of residents are foreign-born.