Cost of Living in Lake Villa, IL
Population 8,707 · Illinois · Data vintage 2023
(100 = US avg)
Lake Villa is a smaller Illinois community of around 9000 residents, where median household incomes of $111,110 and housing costs ($326,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. Unemployment has stayed elevated relative to the national figure — 6.4% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Located 30 miles northeast of Elgin, Lake Villa falls within that metro's commuting orbit. Median home values run roughly 29% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lake Villa
The median home value in Lake Villa is $325,900 — 7% above the national median of $305,000. Median rent runs $1,430/month, 9% higher than the national median of $1,314/month. The median household income of $111,110/year is 49% higher than the US median of $74,580. The local unemployment rate is 6.4%, 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 Villa has a cost of living index of 108 versus the US average of 100, meaning it is 8% more expensive.
Lake Villa 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 Villa, IL?
Lake Villa has a cost index of 108 (100 = national average). It is 8% above the national average.
What is average rent in Lake Villa, IL?
The median gross rent in Lake Villa is $1,430 per month based on 2023 Census data.
What is the average home price in Lake Villa?
The median home value in Lake Villa is $325,900 according to Zillow and Census data.
What is the median income in Lake Villa?
The median household income in Lake Villa is $111,110 per year (2023 ACS 5-year estimates).
What is the sales tax in Lake Villa, IL?
The combined state and local sales tax rate in Lake Villa is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Lake Villa, IL affordable?
Lake Villa is near the national average in terms of cost of living, with an index of 108 (100 = US average).
Lake Villa at a Glance
- Population
- 8,707
- Median Income
- $111,110
- Home Value
- $325,900
- Median Rent
- $1,430/mo
- Unemployment
- 6.4%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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