Cost of Living in Loves Park, IL
Population 23,185 · Illinois · Data vintage 2023
(100 = US avg)
Loves Park is a smaller Illinois community of around 23000 residents, where median household incomes of $58,633 and housing costs ($145,000 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 — 7.8% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Geographically, Loves Park sits roughly 6 miles northeast of Rockford. Median home values run roughly 20% higher than Rockford's $121,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Loves Park
The median home value in Loves Park is $144,900 — 52% below the national median of $305,000. Median rent runs $1,102/month, 16% lower than the national median of $1,314/month. The median household income of $58,633/year is 21% lower than the US median of $74,580. The local unemployment rate is 7.8%, 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, Loves Park has a cost of living index of 62 versus the US average of 100, meaning it is 38% less 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 Loves Park, IL?
Loves Park has a cost index of 62 (100 = national average). It is 38% below the national average.
What is average rent in Loves Park, IL?
The median gross rent in Loves Park is $1,102 per month based on 2023 Census data.
What is the average home price in Loves Park?
The median home value in Loves Park is $144,900 according to Zillow and Census data.
What is the median income in Loves Park?
The median household income in Loves Park is $58,633 per year (2023 ACS 5-year estimates).
What is the sales tax in Loves Park, IL?
The combined state and local sales tax rate in Loves Park is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Loves Park, IL affordable?
Yes, Loves Park is generally considered affordable, with a cost of living index of 62 — about 38% below the US national average of 100.
Loves Park at a Glance
- Population
- 23,185
- Median Income
- $58,633
- Home Value
- $144,900
- Median Rent
- $1,102/mo
- Unemployment
- 7.8%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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