Cost of Living in Gages Lake, IL
Population 10,706 · Illinois · Data vintage 2023
(100 = US avg)
Gages Lake is a smaller Illinois community of around 11000 residents, where median household incomes of $105,114 and housing costs ($291,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. At 7.0%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Located 30 miles northeast of Elgin, Gages Lake falls within that metro's commuting orbit. Median home values run roughly 15% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Gages Lake
The median home value in Gages Lake is $291,200 — 5% below the national median of $305,000. Median rent runs $1,741/month, 32% higher than the national median of $1,314/month. The median household income of $105,114/year is 41% higher than the US median of $74,580. The local unemployment rate is 7.0%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Gages Lake has a cost of living index of 110 versus the US average of 100, meaning it is 10% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Gages Lake, IL?
Gages Lake has a cost index of 110 (100 = national average). It is 10% above the national average.
What is average rent in Gages Lake, IL?
The median gross rent in Gages Lake is $1,741 per month based on 2023 Census data.
What is the average home price in Gages Lake?
The median home value in Gages Lake is $291,200 according to Zillow and Census data.
What is the median income in Gages Lake?
The median household income in Gages Lake is $105,114 per year (2023 ACS 5-year estimates).
What is the sales tax in Gages Lake, IL?
The combined state and local sales tax rate in Gages Lake is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Gages Lake, IL affordable?
Gages Lake is near the national average in terms of cost of living, with an index of 110 (100 = US average).
Gages Lake at a Glance
- Population
- 10,706
- Median Income
- $105,114
- Home Value
- $291,200
- Median Rent
- $1,741/mo
- Unemployment
- 7.0%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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