Round Lake, IL vs Homewood, IL: Cost of Living

Which city costs less?

Homewood, IL has a modeled overall cost index 1.6% higher than Round Lake, IL.

Round Lake, IL · modeled 2BR rent: $1,910 / month
Homewood, IL · modeled 2BR rent: $1,750 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Round Lake, IL and Homewood, IL using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

Current salary in Round Lake, IL

Numbers update automatically as you type

Estimated extra cost: $106/month in Homewood, IL

$150,000 in your current city has a modeled equivalent of $151,277 in Homewood, IL

Regional cost estimates: Round Lake, IL uses Chicago, IL. Homewood, IL uses Chicago, IL. Available city ZIP rent estimates are shown separately.

Overall Cost

↑ 1.6%

More expensive

Monthly Impact

$106

Extra cost

Annual Impact

$1.3K

Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Round Lake, IL

Population:18K

Cost Index:

94.8

100 = national average

Typical Home:$264K

Homewood, IL

Population:19K

Cost Index:

96.4

100 = national average

Typical Home:$236K

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Round Lake, IL

The Prairie State

18K

Population

State Tax

Yes

Located in Illinois, this city has a population of 18K residents.

Homewood, IL

The Prairie State

19K

Population

State Tax

Yes

Located in Illinois, this city has a population of 19K residents.

Cost Breakdown by Category

Estimated monthly spending: Round Lake, IL vs Homewood, IL

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Category	Round Lake, IL	Homewood, IL	Difference	Change
Housing	$2,439/mo	$2,479/mo	↑ $40.04more	1.6%
Other	$1,553/mo	$1,579/mo	↑ $25.50more	1.6%
Transportation	$1,485/mo	$1,509/mo	↑ $24.38more	1.6%
Groceries	$971/mo	$979/mo	↑ $7.94more	0.8%
Healthcare	$561/mo	$566/mo	↑ $4.59more	0.8%
All Utilities	$490/mo	$494/mo	↑ $4.00more	0.8%

Housing

↑ 1.6%

Round Lake, IL

$2,439

Homewood, IL

$2,479

Difference

$40.04

Other

↑ 1.6%

Round Lake, IL

$1,553

Homewood, IL

$1,579

Difference

$25.50

Transportation

↑ 1.6%

Round Lake, IL

$1,485

Homewood, IL

$1,509

Difference

$24.38

Groceries

↑ 0.8%

Round Lake, IL

$971

Homewood, IL

$979

Difference

$7.94

Healthcare

↑ 0.8%

Round Lake, IL

$561

Homewood, IL

$566

Difference

$4.59

All Utilities

↑ 0.8%

Round Lake, IL

$490

Homewood, IL

$494

Difference

$4.00

🏠Rent Comparison

Studio

From$1,590

To$1,450

↓ $140

1 Bed

From$1,700

To$1,550

↓ $150

2 Bed

From$1,910

To$1,750

↓ $160

3 Bed

From$2,460

To$2,250

↓ $210

Round Lake, ILZIP-level data

1BR range: $1,700–$1,700/mo

Homewood, ILZIP-level data

1BR range: $1,550–$1,550/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500

Monthly in Round Lake, IL

$7,606

Monthly in Homewood, IL

$106

Difference

Home Values

Round Lake

Homewood

$264K

Median Value

$236K

↑ +4.4%

YoY Change

↑ +2.4%

↑ +48.8%

5-Year Change

↑ +37.3%

Homes in Homewood are 10% less expensive than Round Lake

Calculate payment - Round Lake Calculate payment - Homewood

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

→ $0

Same taxes

Monthly Difference

Same take-home

Effective Rate Diff

0.0%

Rate difference

Round Lake, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Homewood, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Additional Tax Information

Round Lake, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Homewood, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Round Lake

Homewood

54 Moderate

Air Quality

54 Moderate

35.8%

Good Air Days

35.8%

100 Very High

Climate Risk

100 Very High

🌊🌡🫨

Top Hazards

🌊🌡🫨

▲+3.2°F

2050 Outlook

▲+3.2°F

18 days

Heat Days >95°F

18 days

▲+3.2°F

2050 Outlook

▲+3.2°F

18 days

Heat Days >95°F

18 days

Before moving from Round Lake, IL to Homewood, IL

Use this comparison to shortlist a move, then check the costs that depend on your household.

Compare actual homes. Get current quotes in Homewood, IL for the same bedroom count and included utilities as your home in Round Lake, IL. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Round Lake to Homewood moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Homewood, IL by cost, housing, population and region.

Frequently Asked Questions: Round Lake, IL vs Homewood, IL

How do the cost estimates for Round Lake, IL and Homewood, IL compare?

Homewood, IL has a modeled overall cost index 1.6% higher than Round Lake, IL. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Round Lake, IL, the model estimates $151,277 in Homewood, IL. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Round Lake, IL and Homewood, IL?

The modeled two-bedroom rents are $1,910/month in Round Lake, IL and $1,750/month in Homewood, IL. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.