Cost of Living in Lake Villa, IL

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C+
12%
Overall NAT. AVG.
1%
Groceries NAT. AVG.
42%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Lake Villa Illinois National
Cost of living11298100
Groceries100100100
Health care101100100
Housing14295100
Transportation98101100
Utilities9999100
Lifestyle & Entertainment97100100
Household Items100100100
Education & Childcare98100100
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Homes For Sale In Lake Villa, IL

property for sale

25429 W Cedar Crest Ln

Lake Villa, IL
property for sale

974 Deer Trl

Round Lake Beach, IL
property for sale

25493 W Lehmann Blvd

Lake Villa, IL
property for sale

859 Breeze Dr

Lake Villa, IL

Cost Of Living Quick Facts

  • The cost of living in Lake Villa is 14% higher than the Illinois average
  • The cost of living in Lake Villa is 12% higher than the national average
  • Lake Villa housing is 42% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Lake Villa

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      Utilities index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$206,961$17,247$4,829$6,209
      Renters$76,427$6,369$1,783$2,293
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lake Villa, IL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Lake Villa homeowners, is $206,961. This would allow for a maximum of $4,829 per month to be spent on housing costs. For renters, the median monthly income is $76,427 which would result in a maximum of $1,783 to be spent on rental costs.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Park City, IL7,8948218.2%
      Lake Ivanhoe, WI408945.7%
      North Chicago, IL30,865955.0%
      Round Lake Park, IL8,005955.3%
      Waukegan, IL90,063964.1%
      Lake Villa, IL8,90711211.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Edgemere, MD8,90612222.5%
      Kirby, TX8,908945.6%
      Ladue, MO8,90320099.6%
      Coaticook, QC8,901n/a 
      Chatham, NJ8,91318888.3%
      Lake Villa, IL8,90711211.9%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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