salaryRent is higher than in 51% of U.S. cities. Household incomes are higher than in 88% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 30.6 minutes each way. Most homes (88.2%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $66,920 a year. That is $32 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 205 of 334 cities from cheapest to most expensive.
How much do households earn in Algonquin?
Share of households by yearly income. 54.0% of households earn $100,000 or more.
Rent by apartment size in Algonquin
| Size | Algonquin | U.S. average |
|---|---|---|
| Studio | $1,073 | $1,338 |
| 1 bedroom | $1,271 | $1,324 |
| 2 bedrooms | $2,034 | $1,509 |
| 3 bedrooms | $2,460 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Algonquin overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Algonquin, so the Illinois figure is shown.
Taxes and bills in Algonquin
Life in Algonquin
Is it cheaper to rent or buy in Algonquin?
Renting is cheaper right now: about $762 a month less.
Owning assumes a typical $351,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $35,100 for the down payment.
Frequently asked questions
What is the average rent in Algonquin, IL?
Renting in Algonquin costs a median of about $1,673 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Algonquin?
To keep rent under 30% of income, you need about $66,920 a year, or $32 an hour at a full-time job.
Is Algonquin cheap or expensive?
Algonquin is rated Cheap: rent takes 13.8% of the typical household income of $145,085. It ranks 205th cheapest of 334 Illinois cities we track.
How much are property taxes in Algonquin?
The median homeowner in Algonquin pays $8,025 a year in property taxes, about 2.29% of the median home value.
Is Algonquin more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Algonquin?
The median home value in Algonquin is $351,000, about 2.4 times the typical yearly household income.
30,067 people live in Algonquin. Numbers are typical (middle) values.