Mortgage Rates in Round Lake Beach, Illinois — March 2026
Updated March 2026 | Based on Round Lake Beach market data and regional lending conditions
Round Lake Beach is a growing city in Illinois with a population of 28,175. The current 30-year fixed mortgage rate in Round Lake Beach is 6.69%, which is 0.04% above the national average. With a median home price of $216,000 and a 20% down payment of $43,200, homebuyers can expect a monthly principal and interest payment of approximately $1,114.
Current Mortgage Rates in Round Lake Beach, IL
Below are the current average mortgage rates available in the Round Lake Beach area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.69% | 6.65% | +0.04% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.47% | 6.25% | +0.22% |
| VA | 6.22% | 6.05% | +0.17% |
| Jumbo | 6.94% | 6.85% | +0.09% |
Round Lake Beach Housing Market Overview
The Round Lake Beach housing market offers relatively affordable housing compared to many major cities. The median household income in Round Lake Beach is $57,100, and the cost of living index is 90.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $64,714 to comfortably afford the median-priced home in Round Lake Beach, which exceeds the current median household income.
Monthly Payment Breakdown for Round Lake Beach
Based on the median home price of $216,000 with 20% down ($43,200), here is what you can expect to pay monthly in Round Lake Beach:
15-Year vs. 30-Year Mortgage in Round Lake Beach
Choosing a 15-year mortgage in Round Lake Beach at 5.94% instead of a 30-year at 6.69% would save you $139,500 in total interest over the life of the loan. However, your monthly payment would be $1,453 instead of $1,114 — an increase of $339 per month.
Calculate Your Round Lake Beach Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Round Lake Beach
What are the current mortgage rates in Round Lake Beach, IL?
As of March 2026, the average 30-year fixed mortgage rate in Round Lake Beach, Illinois is 6.69%, while the 15-year fixed rate is 5.94%. FHA loans average 6.47% and VA loans 6.22%. These rates are 0.04% above the national average of 6.65%.
How much is a monthly mortgage payment in Round Lake Beach?
Based on the median home price of $216,000 with 20% down, the estimated monthly mortgage payment in Round Lake Beach is $1,114 for principal and interest. Including property taxes of $396/month, the total monthly housing cost is approximately $1,510.
What income do I need to buy a home in Round Lake Beach?
Using the 28% rule, you would need an annual income of approximately $64,714 to afford the median-priced home in Round Lake Beach at $216,000. The median household income in Round Lake Beach is $57,100. This means most households would need to either earn above the median or consider homes below $216,000.
Is Round Lake Beach a good place to buy a home in 2026?
Round Lake Beach offers a below-average cost of living with a cost of living index of 90.2 (national average = 100). The property tax rate in Illinois is 2.2%, which is above the national average. Round Lake Beach has a population of 28,175 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Round Lake Beach, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.