Cost of Living in Lake County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake County ranks #2,969 of 3,142 counties for affordability (bottom 6%)
Sourced county brief
Lake County Median Gross Rent Reaches $1,477 Monthly
Median gross rent in Lake County was estimated at $1,477 per month, according to the U.S. Census Bureau ACS 2020-2024 5-Year Estimates. This figure is $610 higher than the Illinois unweighted county mean of $867. The official ACS B25071 median gross rent as a percentage of household income (GRAPI) was 29.7%, which differs from the state unweighted county mean official GRAPI of 26.1% by 3.6 percentage points. For homeowners, the median home value was $345,700, while the unweighted county mean across the state was $153,020. Median selected monthly owner costs for all owner-occupied units were $1,919, compared to the state unweighted county mean of $960. Renter-household median income was reported at $60,278. These figures represent the housing cost landscape during the five-year survey period ending in 2024. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Lake County
Affordability Verdict
ACS B25071 estimates median gross rent at 29.7% of renter household income in Lake County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,477 per month; median selected monthly owner costs are $1,919. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $59,080 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Illinois unweighted mean of county median rents is $867 per month. Lake County's $1,477 median is 70.3% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
16.1%
of gross income
Max Housing (28% Rule)
$2,576
per month
Owner Cost Burden
20.9%
of gross income
The median home in Lake County may be a stretch
Median home value is $345,700. Estimated monthly cost: $2,760 vs. your max of $2,576.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Lake County, Illinois?
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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