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)
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Lake County, Illinois
Lake County rents rank high nationally
Lake County residents spend 15.8% of household income on rent, slightly above the national average of roughly 15%. With a median household income of $108,917—45% higher than the national median of $74,755—Lake County earners have substantially more resources to cover housing costs than typical American households.
Above-average housing costs statewide
Lake County's 15.8% rent-to-income ratio exceeds Illinois's state average of 14.7%, placing it among the less affordable counties in the state. At $1,434 monthly median rent, Lake County tenants pay 71% more than the state average of $837.
Premium pricing in the Chicago suburbs
Lake County's $1,434 monthly rent far outpaces neighboring LaSalle County ($906) and Lee County ($853), reflecting its proximity to Chicago's job market and higher cost of living. Homebuyers face similar premiums: Lake County's median home value of $326,600 dwarfs most Illinois counties, including LaSalle at $154,900.
Housing absorbs meaningful income share
Lake County renters dedicate $1,434 monthly to rent from a median income of $108,917, while homeowners pay $1,891 monthly on mortgages. Together, these figures show housing costs ranging from 16-21% of median income—higher than the affordable housing benchmark of 30%, but manageable for this higher-income county.
Consider Lake County for earnings potential
If you earn near Lake County's median income, housing remains accessible despite premium rents; if you're relocating from a lower-wage area, confirm your salary will keep pace with the 71% rent premium over state averages. Explore suburban alternatives like LaSalle or Lee counties to compare quality-of-life trade-offs.
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
15.8%
of gross income
Max Housing (28% Rule)
$2,541
per month
Owner Cost Burden
20.8%
of gross income
The median home in Lake County may be a stretch
Median home value is $326,600. Estimated monthly cost: $2,607 vs. your max of $2,541.
Rent Affordability Guide
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.