Cost of Living in Lake Barrington, IL
Population 5,400 · Illinois · Data vintage 2023
(100 = US avg)
Lake Barrington sits on the smaller end of the Illinois city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible.
Geographically, Lake Barrington sits roughly 14 miles northeast of Elgin. Median home values run roughly 79% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lake Barrington
The median home value in Lake Barrington is $451,400 — 48% above the national median of $305,000. Median rent runs $3,060/month, 133% higher than the national median of $1,314/month. The median household income of $132,857/year is 78% higher than the US median of $74,580. The local unemployment rate is 5.7%, 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, Lake Barrington has a cost of living index of 182 versus the US average of 100, meaning it is 82% more expensive.
Lake Barrington has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 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 Lake Barrington, IL?
Lake Barrington has a cost index of 182 (100 = national average). It is 82% above the national average.
What is average rent in Lake Barrington, IL?
The median gross rent in Lake Barrington is $3,060 per month based on 2023 Census data.
What is the average home price in Lake Barrington?
The median home value in Lake Barrington is $451,400 according to Zillow and Census data.
What is the median income in Lake Barrington?
The median household income in Lake Barrington is $132,857 per year (2023 ACS 5-year estimates).
What is the sales tax in Lake Barrington, IL?
The combined state and local sales tax rate in Lake Barrington is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Lake Barrington, IL affordable?
Lake Barrington is above average in cost of living, with an index of 182 — about 82% higher than the national average.
Lake Barrington at a Glance
- Population
- 5,400
- Median Income
- $132,857
- Home Value
- $451,400
- Median Rent
- $3,060/mo
- Unemployment
- 5.7%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
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