| Index | Vernon Hills | Illinois | National |
| Cost of living | 126 | 98 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 185 | 95 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 99 | 99 | 100 |
| Lifestyle & Entertainment | 101 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 103 | 100 | 100 |
Understanding the cost of living in Vernon Hills can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Vernon Hills cost of living index is 126, which is 26% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Vernon Hills is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Vernon Hills falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs make up a big chunk of the cost of living in Vernon Hills, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 85.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Vernon Hills an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Vernon Hills is 89.6% higher than the national average, while the average monthly rent prices are 74.6% higher than average. The affordability of any location can also be influenced by median income levels. Vernon Hills has a median household income of $152,310, which is 87.3% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Vernon Hills, the groceries index is 1.6% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Vernon Hills, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.
The Vernon Hills cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $182,508 | $15,209 | $4,258 | $5,476 |
| Renters | $107,400 | $8,950 | $2,506 | $3,222 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Park City, IL | 7,894 | 82 | 18.2% |
| North Chicago, IL | 30,865 | 95 | 5.0% |
| Round Lake Park, IL | 8,005 | 95 | 5.3% |
| Waukegan, IL | 90,063 | 96 | 4.1% |
| Round Lake Beach, IL | 28,313 | 98 | 1.7% |
| Vernon Hills, IL | 27,417 | 126 | 25.6% |
| City | Population | Cost of Living Index | National Avg. |
| Batavia, IL | 27,425 | 117 | 17.2% |
| Alton, IL | 27,407 | 84 | 16.0% |
| Winona, MN | 27,459 | 94 | 6.4% |
| Xenia, OH | 27,373 | 86 | 13.9% |
| Wooster, OH | 27,464 | 92 | 7.9% |
| Vernon Hills, IL | 27,417 | 126 | 25.6% |
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